A new report has found that employers being mindful of employee values is a critical component to retaining talent during the pandemic.
New research by MetLife has documented that over half of workers surveyed (59 per cent) said they would look for a new job if their work values are not being accommodated.
This comes after previous research found a third of employees (32 per cent) reporting a weakened relationship between themselves and their employer, showing that being receptive to the work values of employees is more important than ever before.
Staff have been very watchful of the way their employers have handled issues during the pandemic, having a large impact on their view of the company.
On one side, seven in 10 employees (70 per cent) stated they would work harder for an employer that makes them feel their job is secure.
Conversely, over half of respondents questioned (52 per cent) also noticed an unfair allocation of work, which had a negative impact on their productivity levels.
As such, over half of workers (54 per cent) stated they were considering leaving their employer over the next 18 months. This illustrates that employers may need to realign with employee needs to retain and attract the best talent after the pandemic.
The top priorities which influenced employees’ decision to consider remaining at their current organisation included higher pay (65 per cent) and job security (62 per cent).
However, the report states that whilst these factors are largely out of employers hands due to the uncertain situation, there are other areas which HR can focus on.
The third main factor which would convince an employee to stay on was if the employer demonstrated more care towards the staff member’s physical wellbeing (40 cent). This was swiftly followed by employees desiring to see their company care more about their mental wellbeing (39 per cent).
This also largely reflects in the output of the workers. Three quarters (73 per cent) said they would work harder for an employer that cares about them. Over two-thirds (68 per cent) of workers also stated that an employer that cares for their staff would attract the best talent.
Adrian Matthews, EB Director at MetLife UK, comments:
It’s clear that employees’ values and priorities both personally and professionally have changed as a result of the pandemic. A chance to reflect and step back, 2021 has the possibility to be the year that businesses re-shape the world of work.
Employees who feel that their needs are not being met are showing that they are not afraid to look elsewhere for the support they need from an employer, striking a better work life balance for them and their families. While a certain amount of change after such a life-changing year is inevitable, employers can’t afford their best talent to walk away, especially in cases where they could have done something to stop it.
Pay and job security will naturally remain the main motivators, but demonstrating care for an employee’s physical, mental and emotional wellbeing will play an important part in guaranteeing an employee’s loyalty for the long term.
These results were obtained from MetLife’s Re:Me report – Chapter 3: Reassure. MetLife surveyed 900 employees and 300 employers across the UK.