PROVO, Utah and SEATTLE, June 23,
2021 /PRNewswire/ -- Qualtrics (Nasdaq: XM), the world's No.
1 Experience Management (XM) provider and creator of the XM
category, today released a new study revealing that 53% of managers
and directors, and 51% of executives plan to look for a new job in
the next 12 months, with nearly half of the U.S. workforce planning
to do the same.
The United States Department of Labor recently found that more
people are leaving their jobs this year than have in the last 20
years. Many wonder why, so Qualtrics set out to find the answer.
According to Qualtrics' new study, employees are looking for new
jobs because they feel burnt out, stressed, and want more growth
opportunities. Additionally, managers, directors, and executives
are even more likely than individual contributors to say they'll
leave their jobs, which could prove costly for companies.
With job openings in the U.S. reaching a high of 9.3 million,
businesses will need to rely on insights like these to make changes
that will help them retain and engage their existing employees and
also effectively recruit candidates looking for new opportunities.
As organizations compete for top talent, companies will need to
take time to understand what employees are thinking and feeling,
then act on that feedback to design programs that fit best for
their workforce.
Key Takeaways from Qualtrics Study:
- Burnout and stress are causing leaders to look for new
jobs: More than half of managers and directors (53%) and
executives (51%) say they will look for a new job in the next 12
months, while only 37% of individual contributors say the same.
Burn out and high-stress jobs are two of the top reasons employees
say they're making the switch.
- Growth is the top driver for new career
opportunities: The number one reason employees say they are
leaving is because they want more growth opportunities, which
doesn't come as a surprise, considering 60% of employees say their
employer didn't offer any professional development or training last
year, and 64% say they were not offered networking or mentoring
opportunities.
- Mentoring and training opportunities were not available
to women: Seventy-two percent of women say their employers
did not offer networking or mentoring opportunities during the
global pandemic, compared to 55% of men. Additionally, 65% of women
say they were not offered professional development and career
training opportunities vs. 53% of men.
- A gap in the push for diverse leadership: Many
companies are focused on diversifying leadership, but a racial and
generational gap still exists, with 40% of Black respondents saying
diversity in leadership matters to them when looking for a new
place to work vs. 18% of white respondents. When looking for a new
job, Gen Z and Millennials say diverse leadership matters more to
them than Gen X and Baby Boomers (31% of Gen Z, 29% of Millennials,
18% of Gen X, and 13% of Baby Boomers).
- Tech industry has different priorities: Employees
in the tech industry are some of the most likely to be looking for
a new job, with 52% of respondents saying they will do so in the
next 12 months (compared to 41% of retail employees and 19% of
government employees). Tech employees looking for new jobs are also
more likely to say they're looking for better leadership rather
than higher salaries (one of the top drivers among employees in
other industries). Tech employees also say it's important to feel
like their work is a priority and get to know their teams before
accepting a job.
"There is no one-size-fits-all approach to the future of work.
Every industry, employee, and leader will find experiences that are
unique to their culture and workforce," said Julia Anas, Chief
People Officer, Qualtrics. "The key to getting experiences right is
to listen frequently and take action based on what you learn."
Qualtrics EmployeeXM
Companies who focus on
understanding the hearts and minds of employees will be able to
deliver differentiated experiences and keep a competitive advantage
in the market. Organizations around the world use Qualtrics
EmployeeXM™ to understand employee sentiment and
identify which actions HR leaders and managers can take to improve
the everyday experiences of their workforce.
To access the full study, please visit: https://www.qualtrics.com/blog/labor-shortage-study/.
About Qualtrics
Qualtrics, the world's No. 1
Experience Management (XM) provider and creator of the XM category,
is changing the way organizations manage and improve the four core
experiences of business—customer, employee, product, and brand.
Over 13,500 organizations around the world are using Qualtrics to
listen, understand, and take action on experience data
(X-data™)—the beliefs, emotions, and intentions that
tell you why things are happening, and what to do about it. The
Qualtrics XM Platform™ is a system of action that
helps businesses attract customers who stay longer and buy more,
engage employees who build a positive culture, develop breakthrough
products people love, and build a brand people are passionate
about. To learn more, please visit qualtrics.com.
Contact: press@qualtrics.com
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SOURCE Qualtrics