Mass resignations are expected to continue over the next six months as almost 30 percent of workers say they will look for new jobs.
The research by Slack further revealed that industries most likely to be affected by this mass migration are Legal firms, IT & Telecoms followed closely by Sales and Marketing.
According to the messaging app, almost one in five of those who want to quit say it’s because their employer forces them to come into an office when they are able to work from home.
Twenty percent feel their employer gives preferential treatment to colleagues in the office over those who work remotely.
In contrast, the study of 1000 workers found that companies offering hybrid or remote work were more likely to have employees stay in their current role.
Key Findings
Unsurprisingly, one of the key reasons for resignations continues to be dissatisfaction with current wages, lack of bonuses and pay rises.
However, despite wanting to leave, workers are delaying their resignations due to uncertainty over the pandemic. Many say they are yet to find another job, or do not want to lose their current flexible working structure.
How can companies improve their retention rates?
In order to attract and retain talent, HR Managers are being urged to show that they value their employees and their needs.
The second most important motivator, after salary increases and bonuses, is flexible or remote working, followed by extra holidays and days off.
Head of Customer Success EMEA at Slack, Chris Mills said: “With the significant worker reshuffle expected to continue this year, businesses must be in tune with what workers really want.”
Following the announcement of a research trial of four day working weeks at some UK companies, the market insights provider, Momentive looked into whether employees preferred a shorter work week, with longer hours on days they worked.
It found that most workers still want to stay home or have a hybrid or flexible working pattern.It says businesses should be careful about instinctively returning to ‘old’ ways of working if they want to retain and attract staff.
Graham Douglas, Managing Director of EMEA at Momentive said: “If you’re not asking what employees need to be successful and productive, you will miss out on a unique chance to innovate for them and retain key talent.”
Meanwhile the UK business innovation consultancy, Wilson Fletcher, said its experience of the 4 day week has been wholly positive. Three years ago, the company offered staff a four-day week, with no reduction in pay or extension of daily hours. Each member is able to take Friday as a personal day that can be used for anything that is not work-related. The company says — from catching up on some reading or learning something new to spending time with the kids, sleeping or enjoying a relaxing three-day weekend.
Wilson says: “The experience has been overwhelmingly positive for us: we produce better work, we have improved our team’s wellbeing and the working culture and, most reassuring of all, we have increased overall productivity.”
