It’s no secret that employee and leadership well-being has taken a nosedive since the pandemic. With economic turbulence fueling layoff fears, inflation and a historically tight labor market, there’s no shortage of stressors that are impacting your employees and taking a toll on employee satisfaction.
As existing talent worries about layoffs and financial health, business leaders are taking a hit, too, as they struggle to find – and keep – top talent.
This all adds up to a disengaged and unsatisfied workforce and can quickly lead to disengagement trends like quiet quitting. In fact, a new global report from Kelly Services shows that nearly half (45%) of talent are participating in quiet quitting, and a similar number of executives (47%) report that they’ve been affected by quiet quitting in the past year.
Amid a historically dynamic labor market and economic uncertainty, it’s no wonder that employee satisfaction is declining as employers struggle to help employees combat burnout and improve engagement.
Disengagement and dissatisfaction
Kelly’s report – which surveyed senior executives and talent alike – found that there’s a significant disconnect between workers and leaders.
For example, nearly a third (28%) of workers reported they are “very likely” to leave their job in the next year due to poor work-life balance and lack of development opportunities, while executives believe that employees are leaving due to low compensation.
Employees that reported they were likely to leave were also likely to report a lack of inclusivity, with 62% of those planning to leave reporting non-inclusive behavior at work.
A decrease in employee satisfaction can have real impacts on a business, from high turnover to low productivity, leading to executives struggling to keep and retain top talent.
The report found that:
- 46% of executives say that difficulty sourcing talent is leading to missed business opportunities
- 42% admit that they are failing to unlock the full potential of their workforce, and
- 26% say they lack a clear view of the talent and skills they will need over the next two years.
How to cultivate workforce resilience
Employee dissatisfaction and business leaders’ struggle to find talent all culminate in a workforce that struggles to adapt to a rapidly changing world.
In fact, less than half of executives (47%) believe their workforce is resilient, meaning that they don’t believe they have the talent they need to achieve business goals long-term and adapt to market changes.
Kelly’s report found that executives focusing on three essential areas had increased productivity, profitability and customer satisfaction over the past year. They found that a resilient workforce needs three essential pillars: workforce agility, DEI and workforce capacity.
“Now more than ever, employers are struggling to keep up with the evolving needs of talent, and risk falling behind if they don’t bridge the growing divide related to workplace expectations,” said Tammy Browning, senior vice president at Kelly. “As organizations enter a post-pandemic era, those that prioritize building a resilient workforce by focusing on the three pillars will be better equipped to adapt to the future of work and thrive in changing market conditions.”
To create a more resilient workforce, consider implementing these practices followed by organizations leading the way in workforce resilience:
- Implement strategies to build workforce agility
- Automate repeatable tasks to allow talent to do more meaningful work and take on upskilling opportunities
- Keep commitments to DEI, and
- Prioritize talent development and training.