With nearly half of workers saying they feel stagnant in their careers, we’ve entered the Great Dissatisfaction. Here’s three ways to help, writes Chetan Patel
The past six months have posed significant challenges for employers, who are now facing pressures that were largely uncommon just five years ago. Growing your workforce has become increasingly difficult with hiring hurdles, post-Budget tax pressures, technological advancements, legislative changes and the need to adapt to new ways of working – and that’s just the beginning.
Our latest research, drawing on responses from over 10,000 employers and professionals, highlights critical changes that businesses need to address to maintain a satisfied and productive workforce next year.
The ‘Great Dissatisfaction’
Workers are experiencing what we’ve coined as the ‘Great Dissatisfaction’. Nearly half of workers (48 per cent per cent) say they’ve experienced a lack of career progression opportunities within their organisation, up from 32 per cent last year. This stagnation is causing employees to feel stuck, demotivated and unable to advance their careers either within or outside their current roles. It’s a real risk for employers – as soon as workers feel more confident to move jobs, we’re likely to see part two of the Great Resignation.
Now is the time to address dissatisfaction within your workforce before it spirals. Employers should focus on creating clear career paths – employees need to see their future direction, even if promotions and pay rises aren’t on the horizon right now.
In the meantime, help your staff grow by offering learning opportunities and fostering a supportive mentorship culture. Investing in employee growth can boost morale, productivity and retention.
Hybrid work is still relevant
Despite the never-ending debate, hybrid working remains popular. According to our research, 43 per cent of workers are currently working in a hybrid way, compared to 41 per cent who are in the office full-time.
London remains the most popular location for hybrid work, with over half (57 per cent) of professionals working in a hybrid way and 29 per cent working fully in the office.
Although there are nuances across professions, we know that offering flexibility through hybrid work can support employee wellbeing and attracts and retains top talent. Plus, over half (51 per cent) of workers polled earlier this year told us that they wouldn’t accept a job without hybrid working.
By embracing flexible working, businesses can foster a more inclusive and adaptable work environment that meets the diverse needs of their workforce.
AI and future employment
AI advancements are making workers nervous, with 41 per cent worried about losing their jobs. Yet, in reality, only 12 per cent of employers think AI will replace roles in their organisation. There’s a clear disparity in how staff and employers view the impact of AI.
To alleviate this, employers should tap into the strong interest in upskilling. Nearly three-quarters of professionals want to upskill in AI, giving employers a chance to build AI expertise within their teams and empower their staff.
While there are other key areas for employers to focus on, like pay transparency and skills strategies, these three critical areas are vital for growth in the coming year. By prioritising career development, flexible work arrangements, and AI upskilling, employers can build a resilient and motivated workforce in preparation for next year.
Chetan Patel is managing director of Hays, London City