Employees 'hungry for skilled leadership, more training, and more opportunities'
A new white paper is urging organisations to prioritise their retention strategies as global uncertainty forces employees to stay put.
The paper, from integrated talent solutions provider LHH, reveals that 73% of employees plan to remain in their jobs in 2024 as 52% believe external factors have "more control over their career than they do."
But their decision to stay doesn't mean they're not eager for new opportunities, according to LHH president Gaëlle de la Fosse.
"Amid rising prices, international conflict, and the emergence of AI, professional workers are in search of more control over their future," de la Fosse said in the report. "And these employees — especially high performers — are hungry for skilled leadership, more training, and more opportunities."
The LHH president said the current global situation provides employers with the opening to invest in their talent, or they risk falling behind with a disengaged workforce or those lacking the skills for the future of business.
"By investing in their workforce, companies can turn their holistic talent acquisition and retention strategies into their biggest competitive advantage," she added.
Investing in employees
According to the report, investing in employees also create a sense of stability for them. More than four in five respondents (86%) are confident that they can find a new job within six months, but 51% said they remain with their current employer under the condition of career progression and upskilling.
"This means that employers that don't invest in their top talent are likely to see them decamp for other opportunities once they regain a sense of certainty," the report read.
A better salary can also be a critical factor for retention, but it won't be the solution for employee engagement.
"Because even if salary is the top reason to change jobs, workers care about a whole lot of other things too," the report read.
It pointed out that employees also want jobs that are empowering and fulfilling, as well as offers the chance to expand their careers.
"To build the company of the future, employers must lean into providing more holistic support for employees or risk losing them to companies that do," the report read.
Employers can find out more on how to maximise this opportunity in this full white paper available here.
