More employees seek better opportunities in 2024

The number of employees looking to change jobs in 2024 has increased, with most attributing the act to seeking higher pay and compensation
By: | January 8, 2024

More than one out of four employees are looking to leave their current employer within the year.

This is according to a new survey by the Boston Consulting Group (BCG), which polled 11,000 employees globally. The survey saw 28% of respondents say they were looking to leave their current positions for other jobs outside of the organisation, with 63% citing higher pay and compensation as their number one reason. Other reasons cited by respondents included better benefits and perks (28%), work-life balance (26%), looking to do work that they enjoy (20%), and better career progression/learning opportunities (17%).

Among employees looking to change jobs, roughly half expressed dissatisfaction with their current manager (56%), feeling that there was no equal and fair playing field to success (51%), and a lack of opportunities and resources to help them be successful (50%). Another 46% said they did not feel any support from senior employees.

Respondents 35 years and younger were nearly twice as likely to leave within a year than those aged 35 and older (56% and 33%, respectively), particularly when they see no leadership opportunities available to them at their current organisation.

“Most companies think they are already investing in building their frontline leader capabilities, but what is required is a step change in thinking — fundamentally rethinking what great managers do and how they do it and investing in true enablement to sustainably build manager skills,” said Deborah Lovich, Managing Director and Senior Partner at BCG, in a press release.

READ MORE: Do you have a strong hybrid work policy in place?

“Investing in developing better managers who can deliver the connection, support, appreciation and motivation all employees — and frankly, all humans — crave is a no-regrets investment,” she concluded, reported Benefits Canada.