Experience management firm Explorance has issued a new report into the factors driving the so-called Great Resignation, a surge in employee turnover following COVID-19 affecting a host of different industries.
The poll of 2,000 part- and full-time US workers was carried out by Wakefield Research in late August 2021.
Among the key findings were that 78% of employees are eager to take company surveys, with 38% saying a survey is their preferred method for sharing feedback. However, 45% of respondents and 40% of executives said that their feedback didn’t lead to meaningful change. Perhaps as a result, 41% said they were looking for a new job.
Other standouts included the fact that:
- 53% of Millennials are looking for a new job, followed by 49% of Gen Z and 24% of Baby Boomers
- Half of employees haven’t received an employee survey in the past year
- 52% of respondents believed surveys provided an opportunity to drive positive change
- 43% said they never saw the results of surveys, with 56% of executives saying the same
“The three greatest challenges business leaders are facing today with respect to talent are attraction, performance engagement, and retention,” said Samer Saab, founder and CEO of Explorance. “This data not only reveals new insights as to why employees are looking to change jobs, it also shows that responding to employee feedback by making meaningful changes can improve employee inclusion and retention.”
The company said that the research suggested a key driver of employee turnover was a failure to act on feedback.
“Clearly, the biggest issue isn’t the surveys themselves, but the perception, true or otherwise, that not enough is being done with the results,” said Saab. “Many business leaders simply lack the tools to effectively analyze text-based employee feedback and speed the insight to action cycle.”
Explorance recently debuted a machine learning employee experience tools for comment analysis.
