Employees and employers are facing a critical moment of Talent Stagnation crisis in the Workplace !

?? Employers are not looking internally and, thus, overlooking the potential to upskill and elevate their existing workforce to solve business needs, hindering progression for both workers and organizations.

?? One-third of workers feel unrecognized by company leadership.

?? Over half of employees (53%) and employers (52%) view workers as easily replaceable

?? 74% of workers recognize the necessity of learning 74% new skills to stay ahead in their career

?? Employees are able to increase their annual salary when employers invest in boosting career optimism.

? Employees feel both more productive and satisfied with their work when they are given flexibility.

By providing clearer and more personalized opportunities for workers to advance internally, employers have the opportunity to develop the dynamic talent they need from within, according to a new interesting research published by 美国凤凰城大学 using data ?? from an online survey of 5000 US employees of top 20 designated market areas between December 5, 2023 to January 13, 2024.

?The Threat of Talent Stagnation

Employees are more than twice as likely to feel like they do not have the ability to advance in their current role when their company does not provide :

? A mentorship program (49% vs. 18%)

? Skills development opportunities (55% vs. 23%),

? Internal mobility (55% vs. 19%)

? Career path guidelines (53% vs. 19%)

?Flexibility has an impact on productivity and satisfaction

Researchers found a link between flexibility and productivity at work:

• 78% of workers feel more productive at their job when they have more flexibility
• 67% of workers would be willing to work more hours if they could have more flexibility in choosing when those hours are.

?Customization of skills learning

Employees are also customizing their approach toward training to fit their work and schedules:

?? Near half of employees prefer to get these skills through training provided by their job

?? 40% of them prefer to get these skills through learning on their own without a course

?Failing to resolve talent stagnation can miss out on significant business savings

Researchers discovered that when workers who are optimistic about the future of their career:

?? realize up to a $5,270 increase in their annual salary compared to workers who are not.

??can save employers up to $8,053 per employee per year

Taking action to increase career optimism among employees can benefit employers by influencing the following areas:

• $6,521 saved through Increased Productivity

Workers who are more optimistic in their jobs are more productive

• $916 saved through Decreased Turnover

Optimistic workers are less likely to leave their current job

• $616 saved through Decreased Healthcare Costs

Workers who are optimistic in their jobs are healthier

Beside researchers found that improving career optimism can benefit all size of businesses:

?? Finally researchers conclude that employers can unlock talent potential by proposing the actions below:

1?? Personalization: Offer flexible working arrangements to boost productivity and mental well-being.

2?? Clear career paths: Provide visibility into upward mobility, networking, and mentorship opportunities

3?? Invest in upskilling: Prioritize workers' desire for ongoing skill development through accessible educational resources.

4?? Financial incentives: Invest in career optimism which can lead to significant savings for both employers and workers.

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This outstanding research demonstrate that we are at the stage of Talent Stagnation crisis in the workplace but it's an opportunity for employers to capitalize on that optimism and develop the dynamic talent they need from within by providing more opportunities for their workforce to advance internally.

Thank you ?? 美国凤凰城大学 researchers team for these insightful findings: John Woods Chris Lynne Cheryl M. Naumann, SPHR, NACD.CD

Dave Ulrich

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