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As a business leader, you will know the value of putting people at the centre of everything you do. Whether it’s building customer-centric strategies or prioritising employee well-being, investment in people is sure to pay off.
But when it comes to your own workforce, creating long-term engagement and retention are harder than ever, as exemplified in the 'quiet quitting' and 'Great Resignation' trends. Attitudes have clearly shifted since the pandemic - but what exactly are people looking for?
To find out, PageGroup conducted a global talent survey of 70,000 white-collar workers, asking them whether they were open to new roles, and if so, what would persuade them to move.
The results make clear that an 'Invisible Revolution' has transformed the relationship between workers and employers. Here, we break down our key findings and explain exactly what they tell us about successful approaches to leadership in this new era.
View the full report here
It's becoming common knowledge that employee attitudes have evolved, and it may feel like jobseekers want it all. This is, to an extent, true.
Our study confirmed three key things:
These claims may surprise you. But the results of our survey make clear that workers are more aware of their value than ever - and are willing to change employers to get a better deal.
In fact, an astonishing 86% of respondents said they were open to a new role, with 50% actively looking or planning to do so in the next six months.
Why are so many people open to moving? Our research suggests that the workforce's priorities have shifted and expectations have grown. Above all, standing out as an employer of choice in today's market requires a focus on work-life balance. For instance, our research showed that 8 in 10 workers would now choose mental health and wellbeing over career success.
But that's not all. We also found that workers are looking for a mixture of three key factors:
We call these shared priorities the 'Work-Life Equation', and optimising it is an essential step for leaders looking to rejuvenate their employer branding and talent retention.
If you want to successfully hire top people and protect your own from being poached, you will need to ensure that the priorities discussed above are being addressed at all levels.
It may be tempting to hope that things will return to the way they were pre-pandemic. But our data shows that things are if anything moving even further in the same direction as time goes on. Among U.K. respondents, 44% said they switched jobs in 2022, almost triple the rate of resignations we saw in 2021, when the 'Great Resignation' was in the headlines.
So, what’s at the heart of this change, and what can you do to help your organisation navigate it?
We found that the diminishing levels of company loyalty we’re seeing in the workforce are due to the fact that workers have largely stopped looking to their jobs for emotional fulfilment. The sense of accomplishment and happiness they used to seek in work is now coming from their family, friends, loved ones, hobbies, or other areas of their personal lives.
This is why work-life balance and the Work-Life Equation have become so key. Professionals want to be paid appropriately for their work, have the opportunity to advance and grow, but also be empowered to achieve success on their own terms. Getting this dynamic right is paramount, as it is your best bet when addressing either retention or talent acquisition.
Creating an environment that embraces personal growth and autonomy, and rewards those who succeed in these conditions, is going to be imperative for leaders in 2023 and beyond. This all starts at the top, with the senior leadership and the C-suite, so be sure your messaging aligns with this strategy.
Adopting this people-centric mentality is not going to boost attraction and retention rates overnight, but it is an essential first step.
Another action we recommend in our report is to carry out a comprehensive audit of your Employee Value Proposition (EVP). This should go way beyond pay and flexibility and get to the heart of the issue: at a time when loyalty is at a premium, how and why should people connect with their employer on a human level? Reflecting worker priorities in an EVP could be a great differentiator when it comes to hiring new staff or retaining existing talent.
To learn more about the "Invisible Revolution” and our recommendations for navigating it, please download the full report today.
If you’re ready to hire, please request a call back to speak to one of our expert recruitment consultants.
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