COVID-19 has changed everyone’s career at different levels. According to the research conducted by Career Progression Survey in partnership with Censuswide, 43% of employees say their career paths have either stalled or significantly slowed down during the pandemic. Moreover, nearly half (47%) of them are either actively looking or considering looking for a new job that will provide them with the growth opportunities they need to take as the next step in their careers and self-development. Some job seekers are even planning to make a move soon. 17% of survey respondents reported that they were trying to find a new job as soon as possible. For companies, this means that they are about to lose their best talents. In fact, a significant proportion of these companies have already lost them. Considering that the key strength of companies is the talent and ability of their employees, the great resignation trend worldwide poses a significant threat to the survival of companies.
Well, what are these job seekers looking for? Why do they feel like their current job lacks growth opportunities? Let’s cover these first and then discover how companies can support their employees in growing their careers so that they don’t lose talents.
Without career progression, employees say “we’re out”
Most employees are feeling frustrated that their careers have stalled since the pandemic. 54% of employees surveyed are either actively looking for a job now or would consider looking for a job in the next year. Moreover, 30% stated that they were more likely to quit their job now than before the pandemic. 76% of employees said they would be very likely to leave a company due to feeling dissatisfied with the career growth opportunities available.
Among these employees, younger workers, who are still in the early years of their working lives, are more willing to leave their current roles in favor of a job with more growth opportunities. 37% of Gen Z employees and 25% of Millennial employees surveyed are looking for companies and positions that support their careers and offer career progression transparency, that is, a job with clear growth opportunities. This rate is 18% for Gen X and 7% for Baby Boomers. Although the percentages are lower for older generations, companies need to offer more growth opportunities considering that Gen Z will steer the future of the business world.
What’s making them feel like their careers have stalled?
The research highlights three reasons:
- A lack of mentorship (24%),
- A lack of tools that can shape the future of their careers (21%),
- A decrease in one-on-one meetings with their manager or supervisor (16%).
Apparently, managers are not taking an active enough role in supporting their employees’ career progression. 26% of the employees say that they and their managers do not talk about their career progression opportunities. 18% said that, although they speak to their manager regularly, their company does not have any tools to track their career progression, causing them to feel like they do not make any progression.
Survey respondents also reported a lack of career progression transparency and that this is a significant issue for them. The percentage of employees who said they did not have a clear view of the career progression opportunities within their company is notable: 29%. 40% of that 29% think that the lack of transparency within their company is a significant issue.
The survey results make clear that companies need to offer employees growth opportunities and get their opinion by paying attention to these opportunities transparently to ensure they are retaining their best talent for a long time. How?
Support your employees’ career journey with the OKR method
Let’s recall the primary points that need to be acted upon in an agile way, which the employees reported in the research: Lack of a mentor, career growth tools, and one-on-one meetings.
If your company also needs to improve these issues, transitioning to the OKR methodology will not only boost employee satisfaction and productivity but also reduce the number of resignations significantly.
With the OKR methodology, each manager becomes a mentor
The OKR method transforms managers into mentors who know their employees well, channel their talents accurately, recognize their growth, and get their opinion for further development. Working in close interaction with mentors, employees will be more willing to move out of their comfort zone, reach higher levels of performance, and feel valued at work.
OKR methodology allows employees to have a clear view of their future
OKR is a performance management approach based on transparency. With solutions and digital tools developed according to the day and unique needs of the company, it transparently reveals the point employees have reached both for the company and their success journey. It also removes the uncertainties in the employee’s success map via thorough analysis reports and a feedback-supported working environment. Moreover, OKR boosts employee motivation, thus contributing to the growth and reputation of the company.
The OKR method builds working environments with powerful communication
Stimulating communication and enhancing the interaction of employees among themselves and with their managers are among the primary benefits of OKR. The OKR system enables organizations to build steady, sustainable, and constructive feedback mechanisms. The term ended is jointly evaluated with the check-in periods. For employees, coming together with their manager in a sustainable way and having two-way communication have become even more significant, particularly in remote work. Thus, supporting check-in periods and establishing a communication ground suitable to provide feedback at any time besides the check-in periods are critical benefits offered by OKR.
With Twiser, experience the benefits of OKR in your company!
Twiser is ready to adapt the OKR methodology to your organization and advance on your success journey together. With WOKR‘s next-gen performance management platform, you can support your employees’ career journey and enhance your company’s success story.