The last few years of disruption have driven employers and employees to different priorities, pressures and preferences. Organizations are now less reactive to the lingering consequences of the COVID-19 pandemic.
Employers are focused on combatting challenges related to attracting and retaining talent, incorporating flexibility into the workplace, aligning with employee expectations and leveraging emerging technologies. Employees are more concerned with wellbeing and combating burnout, enhanced total rewards packages and flexibility in the workplace.
As employees and employers look to adjust to this new work environment, the workforce itself is shifting, with baby boomers retiring and Generation Z (Gen Z) continuing to enter the workforce. The survey shows that 38% of Gen Z employees are more likely to quit in the next 12 months, compared to only 23% of baby boomers. While each generation of employees has a unique perspective on quitting, employers stated that 54% of their overall employee base is likely to quit in the next 12 months.
This gap between employees and employers can partially be explained by a difference in priorities. Younger generations, millennial and Gen Z employees, demand more flexible work arrangements, prioritize their wellbeing, and overall differ culturally from their peers and managers that may be of an older generation.