Seven in ten UK employees feel that they are ‘stuck in a rut’ when it comes to considering the state of their career, a new report from CEB has found. This growing level of job frustration is costing the average employer £16,000 per employee in staff turnover.
The CEB interviewed over 12,000 employees and found that today’s flat organisational structures are hindering career progression and that lack of opportunity was the main reason why people left their existing role.
The report also found that employers need to offer staff the opportunity of moving around the organisation, for example, to different teams and international offices, to improve job satisfaction and cut turnover.
Organisations that provide better career opportunities for their employees could decrease turnover by 33 percent, saving an organisation with 10,000 employees £4.9 million per year, according to CEB.
Traditional, top down, linear career paths where hard-working employees climb the career ladder one promotion at a time, have fallen out of favour in recent times. CEB estimates that people are now spending three more years in each job than in 2010, then moving sideways rather than upwards.