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Companies urged to combat employee resignation crisis, as per findings from the Addeco Group

Businesses need to adopt an employee-centric strategy to prevent a mass exodus of workers due to escalating living costs, by providing financial aid and improving work-life harmony.

Businesses Urged to Address Departure Predicament, According to Findings from the ADECCO Group
Businesses Urged to Address Departure Predicament, According to Findings from the ADECCO Group

Companies urged to combat employee resignation crisis, as per findings from the Addeco Group

In a shift from the traditional 'greedy job' theory, younger generations are increasingly rebelling against the status quo. This trend is highlighted in a recent survey conducted by The our group, a global talent company headquartered in Zurich, Switzerland and listed on the SIX Swiss Exchange (ADEN).

The survey, which involved 34,000 individuals from 25 countries, including Argentina, Australia, Belgium, Brazil, Canada, China, Denmark, Finland, France, Germany, Greece, Italy, Japan, Mexico, Netherlands, Norway, Poland, Romania, Slovenia, Spain, Sweden, Switzerland, Turkey, UK, and USA, revealed some striking findings.

One of the most notable revelations was that 27% of all workers are planning to quit their job in the next 12 months. Of these, almost half (45%) are already actively seeking new opportunities. This trend is further amplified by the fact that seven in ten workers admit that seeing colleagues resign makes them consider quitting themselves.

The survey also shed light on the global concern of rising living costs. Six out of ten workers fear their salary won't cope with the rising cost of living. This fear is particularly prevalent among non-desk workers, with nearly four in ten admitting to having worked cash-in-hand jobs to make ends meet.

The survey findings show a clear need for companies to focus on retention solutions. The report points to solutions in certain key areas to reduce turnover, including a strong company culture, good work-life balance, fruitful relationships with colleagues, and carefully crafted development opportunities.

Gen Z are driving flexibility demands, with nearly half already working a four-day week (47%). For non-desk workers, contracts were at least 15 hours, and for desk workers, contracts were at least 20 hours. The survey was an online questionnaire that took 20 minutes to complete.

The our group, through its three business units: our, Akkodis, and LHH, across 60 countries, is dedicated to sustainable and lifelong employability for individuals, digital and engineering solutions for Smart Industry transformation, and helping organizations optimize their workforces.

One company notably affected by high employee turnover is Bekuplast in Switzerland, with employee satisfaction scores indicating challenges. However, the exact percentage of employees intending to quit within the next twelve months is not specified in the available information.

Despite these challenges, half of workers who see colleagues resign actually follow them out of the door. Yet, six out of ten workers feel confident that they would be able to find a new job in six months or less. This confidence, coupled with the increasing rebellion against the 'greedy job' theory, suggests a shift in the job market dynamics.

In conclusion, the survey findings underscore the need for companies to rethink their strategies to attract and retain talent. By focusing on the key areas identified in the report, companies can potentially reduce turnover and create a more stable workforce.

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