In today’s job market, it’s crucial to understand what drives different segments of employees to consider jumping ship, even if they’re happy – or worse, stay even when they’re not happy – and what it takes to keep a diverse talent pool engaged and performing at their best throughout their careers. Ceridian partnered with The Nielsen Company to survey full-time employees in North America and compared their answers based on age, career stage, and tenure with their company.
One of the most striking lessons in the research is that cultivating loyalty and engaging employees must begin at the very outset.
When asked how many more years they would like to work for their current employer, there is a significant drop between those within their first year of service and those in the first to fifth years. In other words, the honeymoon ends and they start to weigh their options.
When asked why they remain at their current job (and respondents could choose multiple options), benefits were the commonly cited reason (30%), just ahead of pay (29%), their relationships with colleagues (28%), and job security (27%).
Only 52% of employees surveyed think their companies give promotions when deserved. Moreover, respondents cite two years, on average, as a reasonable timeframe to receive a promotion with their current employers, yet report that they themselves have received a promotion in five years, on average.
Only 41% of respondents say they are aware of any formal or informal succession planning. For many organizations, succession planning appears to be a gap to address. If employees are seeking career growth, and feel they need to leave the organization to find it, discussions about career trajectory and succession planning need to take place at every level.