Inside Employees’ MindsTM study shows 37% of all employees, regardless of satisfaction level, looking to leave
- Senior managers of all ages and Millennials most likely to seek new opportunities
- ‘New normal’ requires employers to refashion their employee value propositions, rethink workforce strategies
Nearly one out of two employees who said they are very satisfied with their organizations and their jobs (45% and 42%, respectively) are also looking to leave, according to Mercer’s latest Inside Employees’ Minds™ research that surveyed 3,000 people representing a complete cross-section of the US workforce.
The new survey from Mercer, a global consulting leader in advancing health, wealth and careers, and a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), also found that 37% of all workers — regardless of their satisfaction level — are seriously considering leaving their organizations, up from 33% of the workforce who were considering leaving in 2011.
“The survey confirms what employers have been seeing first-hand — a workforce in transition and, increasingly, one on the move,” said Patrick Tomlinson, North American Business Leader for Talent at Mercer. “The new twist is that the inclination to leave is increasingly detached from employees’ satisfaction with jobs, pay, and even growth opportunities. Employers need to shift their talent strategies to understand the modern terms of engagement from the most productive employees.”
The findings are more pronounced for various demographic groups within the workforce (see Figures 1 and 2). For example, 63% of senior managers surveyed are seriously considering leaving their current roles, compared to 39% of management-level employees and 32% of non-management workers.
The leave/stay decision varies across age groups
Older workers, who typically face an array of family and financial commitments, say they are less likely to be looking. Only 29% of workers ages 50–64 are seriously considering leaving at the present time. But it’s a different story with younger generations of workers, particularly Millennials, who bring a “here and now” philosophy to their careers, according to Tomlinson. As a group, they seem to value accelerated career paths and diversity (in the workplace and the work itself) over job security and tenure. Mercer’s new survey reflects these trends, noting that 44% of workers age 18–34 are seriously considering leaving their organization, compared to 37% for the overall US workforce, despite the fact that they are generally more positive about many aspects of work (see Figure 3).
Tomlinson continued: “If employers want to remain competitive in today’s market, they need to create a strategic workforce plan — one that aligns to an evolved value proposition — based on the dynamics of this rapidly changing talent landscape. The plan must consider both engaged and disengaged workers, who account for about a fifth of the overall workforce, according to our research. Perhaps more than those who leave, this group has the potential to harm morale and productivity. If your employees stay, you want them engaged and productive.”
“The future of successful work relationships between employer and employee will depend on the trifecta of health, wealth and career — and how you make them all flexible to reflect the way people want to work today and what they are looking for in the employment relationship,” Tomlinson added.
For a more detailed look at the survey findings, download the survey report.
Notes for editors
The Inside Employees’ Minds™ Survey was an online survey of 3,010 US workers, 18+ years old, never retired, working full time or part time at for-profit organizations. The survey was conducted from December 22, 2014 through January 21, 2015. It was weighted to US Census targets for age, gender, race, education and income. Stratified random sample emphasized employees of larger companies, weighted back to universe proportions to preserve projectability. Results reported here are for organizations with 200 or more employees.
Mercer is a global consulting leader in talent, health, retirement and investments. Mercer helps clients around the world advance the health, wealth and performance of their most vital asset — their people. Mercer’s more than 20,000 employees are based in 43 countries and the firm operates in over 140 countries. Mercer is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), a global professional services firm offering clients advice and solutions in the areas of risk, strategy and people. With 57,000 employees worldwide and annual revenue exceeding $13 billion, Marsh & McLennan Companies is also the parent company of Marsh, a leader in insurance broking and risk management; Guy Carpenter, a leader in providing risk and reinsurance intermediary services; and Oliver Wyman, a leader in management consulting. For more information, visit www.mercer.com. Follow Mercer on Twitter @Mercer.