Talent retention is a top priority for
companies worldwide, a recent study sheds light on concerning
trends regarding the loyalty of younger employees.
DALLAS, May 7, 2024 /PRNewswire/ -- According to the
study, conducted by WorkProud, only 23% of workers aged 42 years or
younger expressed a strong interest in remaining with their current
employers long term. This further declines to a mere 18% for
workers aged 30 years or younger.
Even more alarming is the revelation that only 16% of workers
aged 42 or younger would choose to remain loyal to their companies,
even if presented with better compensation for the same job
elsewhere. This number again declines to 11% for workers aged 30 or
younger, underscoring the challenges companies face in retaining
young talent.
Employees 30 years or younger with 'High Company Pride'
are 6X more likely to stay with their current company
for their career.
Employees 30 years or younger with 'High Company Pride' are
8X more likely to stay with their current company if offered
more money somewhere else.
"These findings underscore the evolving nature of workplace
loyalty, particularly among younger employees," said Lead
Researcher Dr. Rick Garlick. "As the younger workforce
continues to prioritize factors such as work-life balance and
company culture, employers must adapt their retention strategies to
meet the evolving needs and expectations of this demographic."
The research, which surveyed 1,000 full-time employees across
various industries, provides valuable insights into the shifting
dynamics of employee loyalty in the modern workplace. It serves as
a wake-up call for companies to reevaluate their approaches to
talent management and employee engagement to foster a more loyal
and committed workforce.
About WorkProud
At WorkProud, we believe in
empowering workforces through pride. That's why we build globally
recognized employee recognition and rewards platforms to energize
company cultures by inspiring, appreciating, and engaging
employees. We offer solutions that promote connections and
cultivate a workplace where employees take pride in their work and
company. Trusted by millions of users at some of the world's most
recognized employer Brands. Discover more.
Media Contact
Emylie
Samuelson - Marketing Manager
emylie.samuelson@workproud.com
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SOURCE WorkProud