Despite recent data from the Bureau of Labor Statistics showing a labor market trending in the right direction, many employed Americans feel quite differently about their job futures, according to a new survey from Yoh and The Harris Poll. In fact, only 28% of employed Americans say they love their job and would not leave their company for any reason. In fact, nearly one in seven employed Americans (14%) say they would like to leave their current job for a new one in the next 12 months.
Uncovering the Bounds of Employee Loyalty
For some employees, loyalty to their company has its limits, and according to data from the Yoh survey, certain perks would lead them to consider leaving their current position in favor of something new. Survey findings demonstrate the following.
- The prospect of increased compensation is most compelling for some employees. Just over one in four (26%) employed Americans would leave their current job in the next 12 months only if they received a higher salary and/or better benefits.
- Opportunities for new work – or a new boss – without a raise may not be enough to move the needle. Only 7% of employed Americans would leave their current job in the next 12 months if they received the same pay but got to work on more exciting projects. Similarly, only 6% of employed Americans would leave their current job in the next 12 months if they received the same pay but no longer had to work for their current boss.
- For some employees, leaving their company now is necessary to ensure future career success. Over one in eight (14%) of employees believe it would benefit their career long-term to leave their current job for a new one.
- Salary demands continue to drive turnover. Among workers, 14% believe they will need to look for a job in the next three years in order to get the raise they feel they deserve. Similarly, 11% of employees have been unsatisfied with their annual raises, or lack thereof, and would consider another job because of it.
- Older employees remain more loyal to their current employer than their younger colleagues. Over two in five (42%) employees aged 55+ say they love their job and would not leave their company for any reason, while less than one in five (19%) employees between the ages of 18 and 34 say the same.
- Few employees believe artificial intelligence threatens their current employment in the near future. Only 8% of employees say they will need to look for a new job in the next three years because they fear their job will be replaced by artificial intelligence (AI).
- College graduates are more likely to be satisfied with their job and show more loyalty to their company. Employees with a high school degree or less (24%) are less likely to say they love their current job and would not leave their company for any reason compared to college graduates (32%).