Results of Latest Yoh Survey Spotlight Some Employees’ Dissatisfaction with Current Employment, Reasons for Voluntary Departure
Philadelphia, PA – Despite recent data from the Bureau of Labor Statistics showing a labor market trending in the right direction, many employed Americans feel quite differently about their job futures, according to a new survey from Yoh, a leading international talent and outsourcing company owned by Day & Zimmermann.
Even with economists’ assessments of a strong labor market and signs that wage growth is finally outpacing the cost of living, only 28% of employed Americans say they love their job and would not leave their company for any reason. In fact, nearly 1 in 7 employed Americans (14%) say they would like to leave their current job for a new one in the next 12 months. The survey was conducted online by The Harris Poll on behalf of Yoh among 1,175 Americans ages 18+ who are employed full- or part-time.
Uncovering the Bounds of Employee Loyalty
For some employees, loyalty to their company has its limits, and according to data from the Yoh survey, certain perks would lead them to consider leaving their current position in favor of something new. Survey findings demonstrate:
- The prospect of increased compensation is most compelling for some employees. Over 1 in 4 (26%) of employed Americans would leave their current job in the next 12 months only if they received a higher salary and/or better benefits.
- Opportunities for new work – or a new boss – without any chance for a bump in compensation may not be enough to move the needle. Only 7% of employed Americans would leave their current job in the next 12 months if they received the same pay but got to work on more exciting projects. Similarly, only 6% of employed Americans would leave their current job in the next 12 months if they received the same pay but no longer had to work for their current boss.
- For some employees, leaving their company now is necessary to ensure future career success. Over 1 in 8 (14%) of employed Americans believe it would benefit their career long-term to leave their current job for a new one.
“The findings from our latest survey serve as a valuable reminder that just because the economy may be trending upward, employee sentiment may not follow suit,” said Emmett McGrath, President of Yoh. “Companies should have a finger on the pulse of their workforce and avoid assuming the best when it comes to their feelings, perceptions, and attitudes. The data demonstrates that a significant slice of workers currently hold at least some reservations about their job. Employee engagement efforts continue to be valuable tools to connect with workers, listen to their concerns and needs, and take meaningful actions to ensure employees are satisfied in their current roles and remain loyal to their employers.”
Additional findings from the Yoh/Harris Poll survey of employed Americans include:
- Salary demands continue to drive turnover. Among workers, 14% believe they will need to look for a job in the next 3 years in order to get the raise they feel they deserve. Similarly, over 1 in 10 (11%) of employed Americans have been unsatisfied with their annual raises, or lack thereof, and would consider another job because of it.
- Older employees remain more loyal to their current employer than their younger colleagues. Over two in five (42%) employees aged 55+ say they love their job and would not leave their company for any reason, while less than 1 in 5 (19%) of employees aged 18-34 say the same.
- Few employees believe artificial intelligence threatens their current employment in the near future. Only 8% of employees say they will need to look for a new job in the next three years because they fear their job will be replaced by artificial intelligence (AI).
- College graduates are more likely to be satisfied with their job and show more loyalty to their company. Employees with a high school degree or less (24%) are less likely to say they love their current job and would not leave their company for any reasons compared to college graduates (32%).
To learn more about the complete survey findings and Yoh’s staffing solutions, visit www.yoh.com.
YOH/HARRIS POLL SURVEY METHODOLOGY
This survey was conducted online within the United States by The Harris Poll on behalf of Yoh from August 29-31, 2023, among 2,041 adults ages 18 and older, of whom 1,175 are employed. The sampling precision of Harris online polls is measured by using a Bayesian credible interval. For this study, the sample data is accurate to within + 2.7 percentage points using a 95% confidence level. For complete survey methodology, including weighting variables and subgroup sample sizes, please contact Nick Puleo at Nick@gobraithwaite.com.