Businesses risk losing a whole generation of talent as nearly half (49%) of 18-34 year olds plan to quit their jobs in the next twelve months.
The research from SME HR software company Personio also found 59% of younger workers (18-34 year olds) felt they also missed out on promotions they felt they were due.
Two thirds (66%) say the pandemic has held them back in their career – suggesting that serious concerns around their career development and progression are influencing their decision to move on.
And 70% of younger workers saying they do not receive ‘enough recognition’ from employers on their performance over the pandemic, compared to 38% of those aged over 45.
Ross Seychell, chief people officer at Personio, said: “As businesses up and down the country battle with skills shortages, these findings highlight just how important it is for them to reconnect with their people, and recognise their efforts over the last few years. Especially those earlier on in their careers.
“With young people feeling alienated and overlooked at work, HR managers and employers must understand more about their concerns and what they are looking for from the world of work.
“The bottom line is that if businesses fail to implement a holistic people strategy that meets the demands of their entire workforce, they will face the consequences of discontentment – and in the worst cases, an exodus of valuable young talent.”
Despite more than two-thirds (64%) of HR managers reporting that retention is currently their biggest issue, only 19% are reviewing their employee experience and just 29% are looking to improve work life balance.
