A new survey provides insight into the factors that professionals consider when making career decisions.
The Execu|Search Group, a provider of recruitment, temporary staffing, and workforce solutions, surveyed job seekers, working professionals, and hiring decisions makers in order to help employers navigate an evolving employer-employee relationship.
Key findings from the survey include:
- Hiring is becoming increasingly difficult.
- 69 percent of employers plan on hiring new staff in 2018—a 13 percent year-over-year increase.
- Companies must offer more professional development.
- Working professionals rank professional development as the most important element of company culture, yet employers don’t perceive it to be a high priority for employees.
- 46 percent of employees do not think their leadership skills are being developed.
- Collaboration + transparency are key to retention.
- “Lack of advancement opportunities” is one of the top reasons employees would leave a company.
- Professionals aren’t happy with their work-life balance.
- 45 percent of professionals feel that their company does not promote a healthy work-life balance.
- 54 percent of professionals’ career choices are motivated by seeking a healthy work-life balance.
Other findings of note include:
- Tenure with company is shorter.
- 65 percent of working professionals plan to stay with their employer for five years or less.
- A counteroffer may not be an effective retention strategy.
- 65 percent of employers say they would extend a counteroffer in order to keep their best employees; however, 60 percent of employees say they would reject a counteroffer from their current employer.
- Job seekers have options.
- 55 percent of professionals were interviewing for 2+ other roles while they were interviewing for their current position.
- Employers need to invest in training.
- One in four employers has not made any effort to address the skills shortage at their company.
- Temporary employees, contractors, and consultants can fill open positions.
- 62 percent of professionals are open to freelance or contract work.