Job development and skills training key to employee retention

About 34% of respondents say their career development has been stunted by a lack of mentorship, advocacy and/or professional networking at their jobs.

(Credit: peshkov/Adobe Stock)

According to a new survey from the University of Phoenix Career Institute, though 4 in 5 employees say they’re optimistic about their own career futures, more than half of all workers report they’re looking for a new job or expect to be looking for a new job within the next six months. Additionally, more than 1 in 5 workers say they’re unhappy with their current roles.

Other key findings of the report include:

The study also found that financial instability is up amongst employees, with 65% of workers now saying they live paycheck to paycheck compared to 56% a year prior – a more than 16% increase.

The solution? According to the survey, companies should invest in professional development, mental health support, mentorship programs, and intra-organization engagement strategies.

“With an unstable economy, retention has become critical – especially for top talent – and employers are looking for solutions beyond office perks and happy hours,” says John Woods, Provost and Chief Academic Officer, University of Phoenix, in a press release. “What we’re finding in our Career Optimism Index® study is the American workforce is resilient, persistent – and taking their careers seriously. They want opportunities for mentorship and advocacy, investment in new skills and internal career advancement. If they aren’t getting these opportunities from their current employer, they’ll easily walk.”

He adds, “There’s a growing gap between how employers think they are doing with these foundational career-building opportunities and how employees perceive their employers are doing, which should serve as a wake-up call.”

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