More than half of managers, directors, and executives looking for new job in next 12 months
A new Qualtrics study is predicting increased job turnover for the next 12 months after speaking with dozens of managers, directors, executives, and company employees.
More than 50% of executives and 53% of managers and directors said they planned to look for a new job in the next year, according to the Qualtrics study.
The majority of respondents cited stress and burnout as the reasons they were deciding to leave their current roles, with others saying they planned to move on in search of more growth opportunities. More than 63% of respondents said they were not offered any networking or mentoring opportunities last year, and 60% said they were given no professional development or training in that same time period.
This was particularly noticeable among women who responded to the survey. Qualtrics researchers found that 72% of women said they were not offered chances for mentorship or networking during the pandemic, while just 55% of men said the same.
Diversity was an important reason for many people switching jobs, with 40% of Black respondents citing it as an important factor in their choice for where they plan to work next. Gen Z and millennial respondents had a similar desire for diverse leadership compared to Gen Xers and baby boomers.
The industry with the most expected turnover is tech, where 52% of all employees said they were looking to change jobs in the next year. Tech workers told the survey they were looking for strong leadership and higher paychecks in the next organization they join.
Julia Anas, chief people officer at Qualtrics, said there was "no one-size-fits-all approach" to the future of work, and that each industry, employee, and leader "will find experiences that are unique to their culture and workforce."
In the survey, over half of those with more than a bachelor's degree said they were looking for new jobs, while the numbers dropped below 50% for those with a bachelor's degree or less. About 60% of Gen Z and millennial respondents said they planned to switch positions. A majority of those in tech and travel, hospitality, and food service planned to find new opportunities, while every other industry fell below 50%.
"Most employees prefer to experience the hiring process in person. 57% prefer in person; 15% prefer hybrid; 13% prefer remote via phone only," the report said. "When looking for a new job, what matters most to candidates when looking at a company: benefits/perks (59%), purposeful work (52%), flexibility (50%)."