The employment scene has undergone a sea change since the pandemic, from mass layoffs to the Great Resignation, a lot has happened over the last two years.
Pandemic obliterated the line between work and home with most people literally living at work. Employees started working more during lockdown while weathering a national health and economic crisis. They felt burned out, stressed, and completely off-balance. All this led them to reassess their careers choices and priorities, resulting in more & more people switching jobs, leaving current employers for better opportunities. Here are more reasons for employees switching jobs post-pandemic!
Better Employer Benefits
Employees are looking for better benefits like retirement plans, health and life insurance, paid family medical leave, and emergency saving programs for their financial resilience. 40% of employees said they are likely to consider an offer from a company that offered them better benefits.
Remote Work A Priority
Remote work culture is here to stay. As per the Prudential Survey – 87% of American workers, who have been working remotely since the pandemic would prefer working from home at least once a week post-Covid. 68% of employees prefer a hybrid work model. 42% of employees are of the opinion that they will change their current job if the company does not support remote working and join the one that supports it.
As per Prudential report, 26% of the employees who feel their careers have stalled during a pandemic are planning to switch jobs, to advance their careers. As per Rob Falzon, Vice Chairman at Prudential, the pandemic has led to a “very real experience that employees have had around a lack of career progression and a concern around skills development.” Employees feel that despite working hard their companies have not given them opportunities for growth.
Company Culture Not Aligned
Company culture would be another reason for a job switch. Employees will prefer companies that offer a thriving culture of internal mobility, continuous learning, and other benefits to support employees.
Better Work-Life Balance
Employees prefer companies that offer a better work-life balance. According to a survey by Joblist – over 30% of employees are willing to sacrifice a part of their pay for a better work-life balance, with parents willing to take a 5% pay cut.
More Flexible Working Options
As per a survey, employees are considering leaving their jobs because they think their companies did not care about their concerns during a pandemic. They are looking for flexibility – flexibility by location, by when they work, or how they work. They are willing to leave an employer if it is not provided to them.
Liz Fealy, EY Global People Advisory Services Deputy Leader, and EY Global Workforce Advisory and Solutions Leader, says:
“Employees’ willingness to change jobs in the current economic environment is a game-changer. The COVID-19 pandemic has shown that flexibility can work for both employees and employers, and flexible working is the new currency for attracting and retaining top talent. Employers who want to keep the best people now and in the next normal will need to put flexible working front and center of their talent strategy. ”
Pressure to Keep Skillset Fresh
As per Prudential research, 72% of people who want to find a new job are worried about their skill set. Pandemic pushed companies to automate their processes at a faster pace than ever anticipated. Employees now feel if they do not refresh their skills they would not be ready for the market in the future.
Working Parents are Quitting More
Working parents are more affected by the pandemic. Taking care of children and their educational needs combined with hectic working hours resulted in fatigue and exhaustion. Thus, working parents are joining the organizations that are offering them more fulfilling environments and better work-life balance.
Hybrid Culture is the future of work. An inflexible, location-centered approach to work is likely to make employees leave their current companies and find a job elsewhere. Those who are thinking of going to live somewhere else, while maintaining their current job, might also find themselves thinking of quitting if they are not allowed to work remotely.
Klotz says that companies can retain employees who are burned out by giving them a break and more support. Experts say they can offer employees more accommodating work arrangements, including remote work, hybrid work, and flexible schedules. And they can listen to what employees say they want and need instead of making tone-deaf, top-down decisions.