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Investing in the workforce is more important now than ever before, according to data revealed by LHH.
"With the profound shifts reshaping the global workforce, the importance of leadership, skills training, and opportunities for internal mobility cannot be overstated,” says Gaëlle de la Fosse, president of LHH. “Our latest Global Workforce of the Future Report shows that employee satisfaction and retention is closely related to how a company builds a culture that fosters career growth and invests in skills development."
Key takeaways:
- Global uncertainty is causing workers to stay put in their current roles for longer, but this should not be mistaken for complete satisfaction. Workers feel a lot less control over their careers than they did at the height of the Great Resignation, with 52% of workers pointing to external factors and 51% citing a "fear of the unknown" as holding back their professional growth. They also cite barriers such as economic climate (23%), age (22%), and limited opportunities within their own industries (20%). Due to these conditions, nearly three in four workers (73%) plan to stay in their jobs in 2024.
- A majority of workers (86%) are confident they could find a new job within 6 months up from 61% in 2022, whether it's through their own networks (74%), independent job search (71%), or a staffing agency (68%). They're especially optimistic about a tech-enabled future and their outlook on digitalization, with 65% of workers feeling that it will have a positive impact on their jobs, up from 37% in 2022.
- Nearly half (46%) of workers say they want to change careers but don't know which path to take. Employees agree – 64% say businesses should upskill and train employees for roles across the company before hiring externally, and half of workers globally (50%) see their employers as owning the obligation to ready them for new workplace realities.
