According to the finding of Capgemini Research Institute’s latest report, the report finds that 34% of all employees are planning to leave their current company within a year.
Of this group of employees who intends to leave, two in three (66%) plan to do so in the next three to nine months. Only 28% of non-supervisory employees say that they are satisfied at work, compared with 80% of leaders who believe that their employees are satisfied.
Even though adequate and appropriate pay is a key driver of employee satisfaction, more than half of all employees (52%) surveyed said that is still likely to leave even if they are offered the same job at a different company with the same compensation, highlighting the need for organizations to act quickly to increase retention of their key talents.
In contrast, of those employees who have a positive experience at work, 97% intend to stay at their current company for the next year, and 96% of them feel engaged and motivated.
In fact, approximately half (48%) of leaders from organizations where managers report positive experiences say they have seen increased customer satisfaction as an indirect result of an improved experience.
Employees need clarity of purpose and a manageable work-life balance
While 92% of leaders believe the employees they manage are happy at work, the report finds that only 30% of employees feel the same way.
Establishing a work-life balance remains a critical concern for all, with 65% of employees and 61% of managers citing it as the most important aspect of their work experience.
The need to carve out a manageable balance is still top of mind for employees with only 29% feel that they are able to take time away from work, and only 28% saying that their work schedule is flexible enough to balance family and personal life.
Organizations tread a fine line with remote working
As organizations balance remote and in-person working models, greater attention needs to be placed on flexible working, cites the report. Nearly half (48%) of individual contributors and 87% of managers who are satisfied with remote-working opportunities are happy at work.
This reflects previous research which found that 66% of employees who feel they are being micromanaged also claim to feel burned out in a remote set-up. This highlights that instilling a sense of autonomy and trust amongst employees is critical for the success of remote working.
Upskilling opportunities matter
Learning and skill development also ranks highly in employees’ minds with 65% stating that it is the most important aspect of their work. Yet, only 28% said that their job enables them to learn and develop new skills, thereby highlighting a clear opportunity for organizations to close this gap.
Re-defining the people strategy
The report recommends that organizations must develop an enterprise-wide people strategy that offers an inclusive experience to all employees regardless of demographics, roles, and permanency.
The report, which surveyed 2,250 employees from 750 organizations, also highlights 10 key actions that organizations and their leadership need to take to bridge this gap between employee satisfaction and leader perception in order to remain competitive and retain talent.