The main reason for looking for new work was to find better compensation and benefits, but 25% said they were seeking a better work/life balance. (Image: Shutterstock)
A new study finds that more than half of Americans expect to look for a new job in 2021. The report's findings suggest that despite growing optimism that the worst of the COVID-19 pandemic is behind us, the economic fallout from the events of 2020 is still weighing heavily on American workers.
The Employee Engagement & Retention Report, commissioned by the Achievers Workforce Institute, showed that American workers are still facing uncertainty about their work/life balance, their current employment and their future careers.
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"This year's Employee Engagement & Retention Report revealed how the pandemic is affecting today's workforce, with work-life balance – or lack thereof – being a key component as to why an employee might be motivated to seek other career opportunities," said Dr. Natalie Baumgartner, Chief Workforce Scientist, Achievers Workforce Institute. "Understanding what is important to your employees and acting on feedback they provide is essential to creating a company where employees thrive, rather than simply survive."
Half the workforce up for grabs?
The topline finding of the report is startling: 52% of employees say they intend to look for a new job in 2021. The magnitude of that reset is hard to imagine, but as the report noted, it suggests that the American workforce has turned a page, and that there's no going back to the old normal.
"We suspect that going through a crisis has highlighted company values and culture, causing employees to become more discerning about the type of organization they want to work for," Bamgartner said.
The report, which surveyed 2,000 U.S. workers, finds workers re-examining their relationship with their employers and their expectations around work. The main reason for looking for new work was to find better compensation and benefits (35%) but 25% said they were seeking a better work/life balance. Only 21% of respondents said they were very engaged with their company and planned to stay for a long time.
Other reasons for considering a change reflected issues that became more prominent in 2020: more than half (52%) of employees said they'd be more engaged at work if their company improved its commitment to diversity and inclusion, 49% would be more engaged if their employer took a stand on racial and social injustice issues, and 37% would be more engaged if there were more people at work who looked like them.
A downside to remote work
Although research has suggested many employees want to continue to work remotely at least part of the time following the pandemic, there are emerging issues with remote work that employers should be aware of.
This survey found that employees in many cases feel stressed by remote work: of those employees currently working from home, 51% said they worried that management doubted their productivity while working remotely. The study said this may contribute to employee burnout, noting that 44% of respondents say these concerns have led them to log-in early or stay online later with their work.
In addition, 2020 saw a trend toward workers feeling less connected to their company. The report found that nearly half (46%) of employees say they feel less connected to their company or colleagues since the start of the pandemic. In contrast, 38% said they feel more connected since the pandemic began. In addition, 42% said company culture has diminished since the beginning of the pandemic.
The study said that lack of recognition may be a problem for many employees. In addition, "inaction fatigue" was listed as a problem—employees said they give input to their companies, but that leadership seldom takes action. The report found that 19% of employees responded that their company was "horrible" about responding to feedback.
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