Can COVID-19 push people to start looking for more meaningful jobs? Bring Out Your Person
- COVID-19 has had a huge impact on the job market.
- Robert Half’s research found that more than one-third of staff said the pandemic had stopped their careers.
- What does this mean for employee retention? And how can companies ensure their staff feel they are valued?
COVID-19 caused the highest global unemployment rate at 21st century
However, those who stay in their jobs do not enter a post-COVID world completely unscathed. Robert Half’s research found that 38% of professionals said their careers had stalled since the pandemic began.
Robert Half’s survey of 2,800 U.S. workers found that employees felt stuck due to lack of wage growth (54%), issues with their career advancement (47%), an inability to grow their professional network in lockdown (47%) and problems developing new skills (44%).
These numbers have become more pertinent to Generation Z – 66% of 18 to 24 year olds have reported career failures in the past year.
Clearly career stalls are true since 59% of 2,800 senior managers told Robert Half they postponed promotions because of the pandemic.
[Read more: COVID-19 didn’t dampen job satisfaction – here’s why]
Impact on employee retention
Issues with career failures create concerns about employee behavior, which can be unreliable. expensive for companies.
Of the employees Robert Half surveyed, nearly a third said they are now considering looking for a more meaningful or fulfilling job. While 78% of senior managers reported that they were concerned with employee retention.
As a result of these findings, Robert Half weighed in with some advice for companies that do not want to lose their staff in the near future.
Robert Half senior executive director Paul McDonald said: “As the job market continues to rise, employers need to worry about retention.
“Younger professionals, especially, want to be challenged and may leave if they are not satisfied.
“Now is the time for managers to invest in reinforcement, evaluate performance goals and develop mentoring programs that will benefit all employees.”
Robert Half also suggests a better recognition and reward system, including rethinking and regular adjustment of salaries.
“Even if your business can’t raise fees right now, consider whether you can provide other forms of compensation, such as bonuses, paid off time [or] retirement plans, ”the report said.
The final important option is to enable individuals to have a better work-life balance, including by offering flexible employment arrangements and encouraging companies to take vacations and set work boundaries.