Mercer Survey: The Great Resignation or The Great Reckoning?
25 Ottobre 2021 - 3:00PM
Business Wire
- Employees have left their employers at record rates this year.
Looking ahead, new survey findings indicate that this will continue
for certain segments of the workforce and become more stable for
others.
- Pandemic caused frontline, low-wage, minority and lower-level
employees to consider leaving their employers at rates
significantly higher than historical norms, according to new Mercer
survey.
The pandemic has highlighted a stark divide in how different
demographics experience work, according to Mercer’s 2021 Inside
Employees’ Minds study that surveyed over 2,000 US-based employees
on what has been termed “The Great Resignation.” The findings
showed that attraction and retention challenges are likely to
continue in certain segments of the workforce, where there is a
disconnect between what employees want and what employers are
offering. While the “Great Resignation” implies a mass exodus of
workers across demographics, a “Great Reckoning” signifies that
only particular groups of workers – those who feel their employers
are not meeting their needs – are considering leaving their
job.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20211025005124/en/
(Graphic: Business Wire)
Only 28% of respondents reported they were considering leaving
their current employer, which is consistent with historical
patterns – typically about 3 in 10 workers are considering leaving
at any given point. However, certain groups are experiencing work
much differently than others; frontline, low-wage, minority and
lower-level employees are more likely to leave, at rates
significantly higher than historical norms (see figure 1).
“In many organizations, frontline and lower-level employees have
been underinvested in and not considered a priority. Wages have
historically stagnated behind inflation as employers competed to
hire these workers at the lowest possible cost. But the pandemic
has shown that this same group of workers not only kept business
afloat, but were critical in keeping our nation running,” said
Melissa Swift, Mercer US Transformation Leader. “Employers now need
to think differently about frontline and lower-level workers and
deliver a compelling value proposition that addresses their
needs.”
A component of this survey was to understand what employees’ top
concerns are, both inside and outside of work. The findings show
that, among all demographics, concerns over the Delta variant have
pushed physical health to the top of the list. Second on the list
is work-life balance and workload – employees say burnout is a key
reason for them to consider leaving their employer, behind pay and
benefits. Mental health is the third top concern amongst all
demographics, but it is most pronounced amongst younger workers,
women, low wage workers and Black and African American
employees.
According to the survey, low wage workers – employees making
less than $60k annually – are more worried about covering monthly
expenses, physical and mental health, and financial wellness
(retirement and debt). Higher wage workers are most worried about
their health, work/life balance and personal fulfillment and
purpose. In the survey, women were much more likely to be low wage
workers than men (61% vs. 39%). These findings demonstrate the
divide in the workforce and how employees on the lower-end of the
wage spectrum have very different experiences at work and require
different support to meet their individual needs.
The survey also found significant differences in the concerns of
workers across ethnicity groups – for Black and African American
workers in particular. Black workers rated personal safety above
all other concerns, well ahead of other minority groups. Concerns
over physical safety are in response to both systemic and
emboldened racism stemming from events such as the capitol
insurgency and racial violence, as well as psychological safety at
work as Black workers are more likely to experience micro
aggressions or retaliation at work.
Four key considerations to help employers navigate the
hyper-competitive labor market
Prioritize hourly, front-line and low-wage workforces.
Employers need to focus on how they can enhance the economic
stability of their workforce and make frontline/hourly jobs more
attractive – perks and other benefits won’t matter if these
employees can’t address basic needs. Pay is one priority employers
should consider, as well as other benefits that enhance the take
home pay of this workforce, such as affordable healthcare and
resources to enhance their financial wellness such as retirement
savings programs and budgeting tools.
Burnout is a major issue and employees are struggling with
mental health. Mercer’s 2021
Health on Demand research found while 59% of US employees
say they feel some level of stress, one-quarter report being highly
or extremely stressed. Offering a diverse set of wellbeing and
mental health benefits will help manage a number of people risks,
including employee exhaustion, rising health costs and employee
turnover.
Make sure your company is a place where Black employees feel
safe, accepted and able to be their authentic selves.
Organizations must move beyond attracting diverse talent, to
ensuring their systems and structures within the organization
enable them to thrive. Examining your data to understand where the
experience is falling short is a great place to start. Another
powerful action employers can take is to train and equip managers
to be strong allies to these employees. Managers who can
confidently identify and stand up against workplace inequities and
micro-aggressions are in the best position to increase levels of
inclusion and safety.
Flexibility remains critical. With work/life balance
ranking second as an employee top concern across all demographics,
flexibility is a top priority and a necessity for most employees,
and employers who fail to embrace this new reality are likely to
face continued challenges when it comes to attracting and retaining
talent.
“Given the challenges that employees have faced on the front
lines of this pandemic over the summer, and through the social
unrest that we saw last year – employees are saying, in many cases
due to what they are paid in low wage jobs, it’s just not worth it.
And they are looking for more from their employer,” added
Swift.
About Mercer Mercer believes in building brighter futures
by redefining the world of work, reshaping retirement and
investment outcomes, and unlocking real health and well-being.
Mercer’s approximately 25,000 employees are based in 43 countries
and the firm operates in 130 countries. Mercer is a business of
Marsh McLennan (NYSE: MMC), the world’s leading professional
services firm in the areas of risk, strategy and people, with
81,000 colleagues and annual revenue of over $19 billion. Through
its market-leading businesses including Marsh, Guy Carpenter and
Oliver Wyman, Marsh McLennan helps clients navigate an increasingly
dynamic and complex environment. For more information, visit
mercer.com. Follow Mercer on LinkedIn and Twitter.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211025005124/en/
Micaela McPadden 201-694-9719
Micaela.mcpadden@mercer.com
Grafico Azioni Marsh and McLennan Compa... (NYSE:MMC)
Storico
Da Mar 2024 a Apr 2024
Grafico Azioni Marsh and McLennan Compa... (NYSE:MMC)
Storico
Da Apr 2023 a Apr 2024