Study: Employees Less Loyal As Job Market Recovers
LOS ANGELES (CBS) — While millions of Americans are still without full-time work, a new study says those fortunate enough to be employed are more likely to ditch their current job as the economy sputters toward a stronger recovery.
A survey conducted by MetLife on employee benefits trends shows after over three years of career paralysis over the fear of layoffs, stagnant wages and heavier workloads, worker loyalty is on the decline.
Despite soft hiring and an uncertain jobs outlook, more than a third of the U.S. workforce hoping to find a new employer in the next 12 months.
Dr. Ronald Leopold, a vice president with the firm behind the survey, explains to there may be a psychological factor behind why the currently-employed may be feeling more confident in this shaky job market.
An estimated 73 percent of American workers say they expect to leave their current job in the future, with over 1 in 3 predicting a move in three years of less.
Amid uneven growth recently in the U.S. economy, the gains many employers have reported over the past few years appears to have come at the cost of worker loyalty, as “very strong” employee loyalty plunged to 47 percent from 59 percent just three years ago.
“The short-term gains employers realized from greater productivity appear to be short-lived and now pose bottom-line challenges as key talent considers other employment opportunities that have arisen as a result of the improving economy,” said Anthony Nugent, MetLife’s executive vice president of the U.S. business unit.
The survey by MetLife also highlighted the role that workplace benefits can play in fostering employee loyalty.
Over 71 percent of respondents who are satisfied with their benefits feel loyal to their employers compared to a mere 25 percent of those who are “very dissatisfied”.
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