A third of white-collar professionals have stated that they are ‘very likely’ to leave their job in the coming months, unless more understanding and assistance is directed toward personal matters which impact their work.
Also, employers must do more as a preventative method before staff hit ‘crisis point’, as 8 percent of professionals are resorting to a ‘side hustle’ to manage living costs.
This is according to research by global recruiter Robert Walters, which also shows that 30 percent feel working from home has had a negative impact on their mental health.
“Companies need to be more in tune with the issues impacting their employees if they want to avoid ‘The Great Reshuffle,” warns CEO of Robert Walters, Toby Fowlston.
According to the research, there are also three major ‘living crisis’ that will further drive The Great Reshuffle which companies need to be tuned into in order to attract & retain talent:
1. Rising Cost of Living
2. Post-pandemic Mental Health ‘timebomb’
3. Purpose before Profession
Cost of Living
According to a survey of 6,000 professionals by Robert Walters, 48 percent feel that their pay is not an accurate reflection of the work that they do – with a further 45 percent stating they feel underpaid.
When asked around pay in relation to cost of living, just 5 percent stated that they had a generous disposable income – with the vast majority (41%) stating that they live sensibly to cover their cost of living – and just over a quarter make enough to warrant savings. Worryingly almost a fifth (14%) of white-collar workers live ‘pay cheque to pay cheque’.
Mental health
Worryingly, 30 percent have stated that the long-term working from home has had a negative impact on their mental health – citing lack of physical interaction with the team (69%), inability to separate home & working life (59%), and distractions at home (47%) as the leading reasons.
Despite this, 87 percent of professionals are still reluctant to give up the option to work from home – with a third stating that they want to maintain homeworking for at least one day of the week.
“The crucial act here is for employers to listen and play an active role in alleviating some of the personal issues in employees lives before they reach that irreversible ‘crisis’ point,” says Mr Fowlston.
Purpose before profession
In a survey conducted by Robert Walters, 51 percent of professionals state that it is important that a company’s social values align with their own – citing workers rights (66%), diversity, inclusion & equality (62%), mental health awareness (59%), climate control (34%), political matters (29%), and charitable causes (27%) as the primary values a professional would decline a job offer on.
“Increasingly we are seeing more professionals be more selective about where they work – not because of the salary, job role, or career path, but because of what the company stands for. It is no longer ‘I work for an employer, but that employer works for me,” says Mr Fowlston.
“This expectation is being driven upward, where CEO’s who once sat behind their desk are increasingly expected to be more visible and vocal on topics that are important to themselves and their employees – such as inclusivity in the workplace. Young professionals want a CEO who is authentic and passionate, and willing to step forward on values close to the heart,” adds Mr Fowlston.
Amelia Brand is the Editor for HRreview, and host of the HR in Review podcast series. With a Master’s degree in Legal and Political Theory, her particular interests within HR include employment law, DE&I, and wellbeing within the workplace. Prior to working with HRreview, Amelia was Sub-Editor of a magazine, and Editor of the Environmental Justice Project at University College London, writing and overseeing articles into UCL’s weekly newsletter. Her previous academic work has focused on philosophy, politics and law, with a special focus on how artificial intelligence will feature in the future.
