How This Statistic on Job Hopping Will Make Professional Development a Priority in Your Company
New year, new career? According to Monster.com, job hopping potential in 2023 has given employees cause to start searching for higher pay, less toxicity in the workplace, and growth opportunities. In this article, Leadology leans into professional development and workplace training to help retain those superstar employees.
Recently, I was skimming the news when I stumbled across a staggering statistic on MSNBC: according to a recent report, a whopping 96% of workers are looking for a new position in 2023, largely in search of better pay.
Why 96% of workers are looking for new positions
According to this poll, workers were largely in search of better pay to help support rising costs due to inflation. Others said that they have no room to grow in their current role or that they were suffering from a toxic work environment, thus leading them to look for employment elsewhere. I don’t know about you, but thinking about how much of the U.S. workforce is unhappy in their current job was pretty sad. It also got me thinking about how adequate compensation, plentiful opportunities for growth, and a non-toxic workplace are all still top incentives for workers to passively– or actively– job search elsewhere. Job hopping in 2023 needs to be considered if you wish to retain your superstar team members!
Money might be the main catalyst for a decision to change workplaces, but there are plenty of factors to consider
While money is certainly a driving force in thinking about a career move, most employees weigh countless factors when embarking on a job hunt, this includes opportunities for advancement, flexibility, and a culture that prioritizes work-life balance. Organizations that invest in their employees' experiences will have a leg up when it comes to reduced turnover and employee satisfaction. Just look at this LinkedIn Workforce Learning Report, which states that 94% of employees say that they would stay at a company longer if it simply invested in helping them learn.
Not only are professional development opportunities vital for the individual advancement of employees, but it ultimately creates a workforce better equipped to contribute to the collective success of their organization. Years of research also supports the idea that employers have simply needed to invest in workforce training comparable to that of other industrialized economies in order to boost and maintain high levels of employee retention and minimize job hopping.
How Leadology is filling the gap in professional development
Even the most sought-after employers have room to grow, and what they have to offer in terms of professional development opportunities is a fantastic place to start. Considering the fact that a majority of employees may already have their eye on job boards or have even started submitting applications, it’s never a bad idea to reevaluate how your company is already investing in its employees and what you can do better.
Over the years, through our premier leadership program Activate, we’ve walked alongside workplace leaders from around the world as they’ve undergone formative professional development experiences and afforded the same opportunities to their employees. Each cohort will engage managers in purposeful conversations and prepare them with toolkits for leadership to ultimately transform their organization’s relationship with learning and development.
Eager to see your employees grow in their current roles? Schedule a strategy call with us to learn more about how Activate is equipping leaders with the resources to boost employee retention and engagement in their own organizations.
To high performance… not high turnover!
– Carrie & Team Leadology
