The Greatest Mass Resignation in Modern Times Isn't Just About COVID or Burnout
A new survey commissioned by Lattice shows over half of employed Americans are looking to change jobs in favor of more meaningful work and to see a clear path forward in their careers.
SAN FRANCISCO, Aug. 24, 2021 /PRNewswire/ -- Today Lattice, a leading software platform used by more than 3,000 companies to help manage and motivate employees, released the results of a new employee survey. Simply put, while employees are still grappling with the pivot and resulting burnout from the many changes impacting the world of work since early 2020, this isn't their primary motivator for leaving their current jobs. "Employees want to understand how they impact the bigger picture and what they can do to successfully accomplish their career goals," said Jack Altman, CEO of Lattice.
Among survey highlights: 54% of ALL employees surveyed say they are looking to change jobs, and 43% of employees say their career paths have either stalled or slowed to a crawl since the beginning of 2020. Consequently, employees want to know exactly what their career path looks like in the future, with 47% of those surveyed saying they are currently looking for a new job that provides clarity and growth opportunities.
"People are a company's most important asset, and the cost of turnover is high. Managers need to prioritize visibility for employees on their career progression, as well as provide the mentorship and tools to help them move forward, to ensure they're retaining their best talent," said Lattice CEO, Jack Altman.
The survey found that the job hunt is not only widespread but an immediate priority, with 17% of respondents looking to move into a new job as soon as possible. There are currently more than 127 million full-time employees in the United States which equates to 21 million people currently exploring opportunities. That's roughly 13 cities the population size of Manhattan all looking to change jobs. This unprecedented shift began in May when more than 3.6 million people quit their jobs -- officially becoming 'The Great Resignation.'
The survey also looked into the reasons employees felt like their careers had stalled. Some highlights include: 24% of those surveyed said a lack of mentorship, 21% said a lack of clarity about a career path and tools to track and get there, and 16% said that a decrease in facetime/one-on-one meetings with their supervisors was a key reason they felt career stagnation.
The youngest Americans are by far the most likely to change careers because of stalled careers. 38% of Gen Z workers said they are looking for jobs with greater transparency around job path and development, and 26% of Millennials are looking for new jobs, which is more than three times that of Baby Boomers.
About Lattice:
Lattice is the people management platform that enables people leaders to develop engaged, high-performing teams. By combining continuous performance management, employee engagement, development, and growth in one solution, HR and People teams get powerful, real-time analytics that leads to actionable insights turning managers into leaders, employees into high-performers, and companies into the best places to work. Based in San Francisco, Lattice serves over 3,000 customers including Slack, Cruise, and Reddit, and was ranked on the Inc. 5000 Fastest Growing Private Companies list two years in a row. Learn more about Lattice by visiting: www.lattice.com.
In Fall 2020, Lattice launched Grow, a new career development product within the Lattice platform that provides transparency to employees' career journeys by surfacing advancement paths and actionable development plans while providing managers with trackable data insights. To learn more about Grow, visit: https://lattice.com/grow.
About the Research
The research was conducted by Censuswide, surveyed 2,012 employees in the US medium to large companies (100+ employees) over 6 days ending on July 20, 2021. Censuswide abide by and employ members of the Market Research Society which is based on the ESOMAR principles.
SOURCE Lattice
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