Research from LHH finds that although many employees plan to stay in their current jobs this year, they are unfulfilled.

By Maggie Mancini

Three years after The Great Resignation upended the world of work, employees are searching for stability in their careers. Research from LHH finds that more than half of workers in the United Kingdom point to external factors (54%) and fear of the unknown (59%) as holding them back in their careers. While workers across the globe cite barriers like the economic climate, age, and limited opportunities within their own industries, nearly three in four workers (73%) plan to stay in their jobs in 2024.  

Half (51%) of employees who have decided to stay in their jobs are doing so for career progression and upskilling opportunities. And although stability is keeping talent in place for now, higher salaries could convince them to search elsewhere, the research finds.  

Even though nearly three-quarters of workers plan to stay in their current role through the end of the year, nearly half (47%) are looking at open roles, and 33% think about their career plans daily or weekly. For those who are looking to change jobs, workers often cite better salaries, entrepreneurial aspirations, lack of career progression, and lack of fulfillment as their top reasons to leave.  

Those who are planning to stay, however, cite stability, work-life balance, positive relationships with colleagues, and healthy working conditions as their top reasons to remain in their positions.  

The report reveals three ways that HR and business leaders can nudge their passive talent pool and improve retention.  

• Companies should demonstrate that they prioritise learning and development for multigenerational workforces. Some employees (19%) feel they are not using all their skills in their current role. Even if they lack some hard skills, workers are often willing to transition into new industries like healthcare, e-commerce, and clean tech if they have opportunities to reskill, the report finds.  
• Employers should shift to skills-based hiring. While candidates may have professional experience that makes them look like a great fit on paper, it’s important to seek out talent that can develop new skills and adapt to rapid workforce changes.  
• Employers should invest in career empowerment paths and internal mobility programmes. While many organisations have recently made investments in internal mobility solutions, LHH data indicates that technological solutions alone are inefficient. Almost half (47%) of candidates are searching for jobs through external programmes.