According to a new survey, 32% of employees plan to change jobs in the next 2 years. The report also highlighted that in the last six months, one-quarter of the employees surveyed have been recruited by another company while only 16% are planning to stay with their current employer in the five years.
Benefits are the main driver influencing employees to shift from one company to another, with 34% moving to another company based on the belief that they would get better core benefits. The survey also highlighted that 29% changed their employer to get access to better childcare benefits, and 33% changed companies to acquire better ancillary benefits.
The findings of this survey should act as a wake-up call to companies who have been trivializing and ignoring the importance of benefits to their employees. The findings clearly show that the majority of employees are moving based on the possibility of better benefits in another company.
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41% of employees would stay with better benefits
The sway held by better benefits over employees was also highlighted by 41% of employees who said they would stay with their current employer if they were offered better benefits. Apart from benefits, the possibility of promotion shortly discouraged 36% of employees from moving to another company. This underscores why it is important for companies to appreciate and reward the most hardworking and talented employees in the form of increased benefits or promotions to discourage them from leaving.
Another survey conducted by Indeed indicated that 28% of employees believed they would be freer to control their schedule if they moved to another company. Of the 32% who plan to change jobs in the next 2 years, 39% say they will be moving to another company to acquire a more senior role within the same profession. On the other hand, 34% will look for a position that is similar to their current role, while 19% said they would be seeking to change careers altogether.
52% of employers doing everything they can to retain
One of the strategies that can be used by companies to retain the best talent is to put extra effort to deter the best from leaving. According to the survey, 52% of the employees surveyed said their employer is doing everything they can to retain top talent, while 32% did not believe employers were doing enough. Additionally, employers can retain talent by paying their best employees more with 63% of correspondents to the Indeed survey saying they would resign if they are paid more. The finding indicates why companies should “keep up with job salaries to remain competitive and dissuade workers from going elsewhere,” argued Indeed.
The fact that workers are some employees move to other companies gain more experience means that employers can hold on to their employees by offering more training and flexibility in their employment tenure. Also, “employers must develop a workplace culture that values up-skilling and career development, for them to attract and retain talent,” says Indeed.
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