Ceridian (NYSE: CDAY; TSX: CDAY), a global leader in human capital management (HCM) technology, today released results from its 2023 Pulse of Talent report revealing that workers don’t only want flexibility in where and how they work – but in their careers, too.
Nine in 10 surveyed employees say they’ve felt stuck in their role over the past year, with one-third (33%) feeling that way often or always. The good news? Employers offering clearly defined career paths – aligning to employee aspirations – can win big in retaining talent: 84% of employee respondents who have a clear career path say it makes them more committed to their employers.
The report, which surveyed 8,833 workers across eight countries and in companies with at least 100 employees, also showed:
- Less than half (45%) of respondents said their employer understands their career aspirations.
- More than one-third of surveyed employees (35%) find a change in career paths within their company appealing.
- Among flight-risk employees, just over half of employee respondents (51%) would consider staying if their employer provided opportunities to change career paths within their company.
- More than four-in-ten surveyed employees (43%) are interested in moving into a new role in a different department or team, and 49% said they want to contribute skills to new projects from within their current role.
The report underscores the need for employers to respond to employee needs and aspirations. This is critical as only half of today’s surveyed workforce (52%) feel committed to staying with their current employer for at least three to five years.
“What’s clear from our research is that employees have commitment issues with their employers,” said Susan Tohyama, CHRO, Ceridian. “There is an opportunity for employers to counter this trend, with their own long-term commitment to employee work/life, career flexibility, and engagement. This includes opening up opportunities for employees across an organization, while giving them greater control about where, when, and how their job gets done to truly meet the needs of a modern workforce.”
Compensation alone will no longer keep employees
When asked what employees value most in a job, surveyed workers globally cited compensation – yet that factor remained flat year-over-year at 55%. Survey data shows flexibility/work-life balance rose to 49% (up from 41%) overtaking job security, which dropped to 36% (down from 47%). Notably, respondents aged 18-24 selected flexibility as their most important job attribute at 44% (ranking it above compensation at 41%, and job security at 26%).
Download the 2023 Pulse of Talent report: The Rise of the Flexible Career Experience: www.ceridian.com/resources/2023-pulse-of-talent.
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