7 in 10 tech workers are considering quitting their jobs in the next year – that’s survey data from TalentLMS and Workable. About 4 in 10 say its due to limited career progression. Just under a third say it’s lack of remote working options. Eighty five percent say they felt their company focused more on attracting new employees than investing in existing staff. About 30% say burnout is the reason they are leaving – despite 58% saying they were suffering from job burnout.
This as the US economy has hit the tipping point on the shift from an industrial to an information economy, per a study by the Interactive Advertising Bureau with researchers. The report finds that the internet-supported economy over the past decade has shifted from jobs that related mostly to technical internet functions, like coding, to jobs that help deliver information and facilitate communication through data.
Work is dispersing too – this concept of a third workspace is creating new versions. Saks Fifth Avenue with theirs – a program called SaksWorks, bringing co-working space. It’s $300 a month or a $50 day pass.
Why do we care?
This is all data to feed those working on helping small customers be effective in the changing world of work. That’s another day.
There’s a powerful lesson here about keeping your employees. Business owners know its easier to keep a customer than gain one. It’s also easier to keep an employee than hire a new one.
The Washington Post has an article talking to employees about their new job searches, but two items struck me. First, the line “Don’t stay where you’re not heard”. And the second, “Company loyalty goes both ways.”
This is an area where both managers and small business owners can shine. Does loyalty go both ways? Are you expecting loyalty but not delivering it? Right now, with people so scarce, it’s a good time to be asking really hard questions… if it’s not too late.