Workforce on the move
Employee turnover rate has been on the rise for the past several years. A recent survey conducted by The Voice of the American Workforce shows just how much things are changing.
- 46% of employees are actively seeking new jobs
- 23% of employees are passively seeking or willing to consider a new job
- therefore 69% of the workforce is now considering making a move.
What is causing employee turnover?
Of course, it’s no surprise that pay remains the top motivator. Two thirds of employees in the survey say that low wages are the main reason they are considering changing jobs.
66% say pay is the most important factor when looking for a job and 64% say that pay is the most important reason for staying on the job.
What about having to learn new skills?
By far the largest number of people who answered the survey were willing to learn a skill to make it possible to earn more pay.
Another interesting fact that came out of the survey is that when asked specifically, 45% of hourly workers say they are willing to invest their free time to learn a new skill.
Logistics and manufacturing
Both logistics and manufacturing respondents were concern that jobs in their industry would be eliminated. Many of them have already begun taking action. Roughly 11.7% of these workers are looking to transition out of their current industry. A whopping 40% of the respondents in manufacturing want to learn a new skill to prepare them for new jobs or possibly a promotion in their current industry.
This survey included data from both logistics, and manufacturing.
How to develop employee loyalty
In addition to increased pay, what can employers do to develop employee loyalty?
Treated with respect
By far the largest number of respondents wanted to be treated with respect. Many workers feel taken for granted and treated as expendable. Ignoring employees contributions leads to low morale, low motivation and the phenomenon of ‘quiet quitting’.
Paid time off
The percentages in both logistics and manufacturing were fairly close when it came to having paid time off. 39.4% in the logistics section, 38.3% in manufacturing.
Personal Obligations
Many employees want their personal life to have a higher priority. 21.3% in logistics and 20.7% in manufacturing said that understanding personal obligations was very important to them.
Advancement opportunities
Both logistics and manufacturing cited advancement opportunities as one of the major factors in strengthening employee loyalty. Another strong factor was performance recognition.
Company culture and 401K
Several other factors that really didn’t get responses over 15% from either group were consistent work opportunities, a flexible work schedule, and the health insurance contribution. And surprisingly enough good company culture got a larger response than either of the last three categories mentioned. Providing a 401(k) got in 18.1% response from logistics and a 19.1 response for manufacturing.
Current data indicate that this trend is not going away any time soon. Employers who want to recruit and keep good workers would be wise to develop a working partnership with a competent staffing firm who is staying abreast of these trends.
Cynthia Becker
Life Coach/Wellness Coach
NLP Master Practitioner and Trainer
Professional Psychic
Ad-VANCE Talent Solutions has been helping people move into exciting new professions for over two decades. This ranges from varied and exciting seasonal work to temp positions with the potential to become full-time. We’ve created staffing partnerships with a number of industries in the governmental, healthcare, and hospitality sectors. Perhaps if you’re interested in hospitality jobs Sarasota has the answer.