John Morgan2:39
Now there was another astounding finding in the survey, I felt, and that was that more than half of the responders said that external factors had more control over their career than they felt they had. Think about that for a minute. More than half of the people who responded, 30,000 employees responded. More than half of them feel like their career progression and growth, it's in the hands of external factors and they do not feel that sense of control. That's a little daunting. I find that very concerning because we know that mindset is one of the biggest determining factors of performance. And so if we don't reengage and if we don't help empower, well, I don't need to say where we go from there, right? It's not positive. So it's a critical opportunity for us. We now at this moment have a workforce who is not satisfied. We have employees who don't feel that they have a sense of control over their development and their future growth. Silent quitters, anybody recognize this? Seen it somewhere? Folks who stay and aren't engaged. However, if we do invest, we have the opportunity to reengage, to support, and to enable the workforce.
So we know that our roles, regardless of our role and whatever the market influences are, that we all, every one of you here, me, Stephanie, we absolutely want future prospects for our career. I mean it is our livelihood. We want to make sure that we know where we can go, where our skills are going to be moving us. Our report is as you see, I think one of them up there says that 72% of employees globally contemplate their career plans quarterly and what's not up here. So I guess that's right here. What's not up here is the 18- to 24-year-olds as well as the 50-year-olds plus are contemplating their careers weekly. Weekly? A lot of contemplation. They're really looking at what am I doing? Where is my career going? And so that's a lot of them thinking about what's happening, where they're moving.
So while there's a lot of contemplation, what we're finding and what the study shares is that there is lack of career progression. So as an organization, that is consistently one of the top five reasons that employees leave up front. Okay. Is that there is no career progression for them. What are the other four? Salary obviously right up there, well-being, sense of purpose, and then for those that want to potentially become their own boss. Sometimes that sounds better than it actually is in many ways from a career standpoint. We can talk to that. But again, 50% of employees say that their employer, the company, is responsible for understanding the changing nature of their jobs. So think about that. That's different. Most employees realize their career is thereof, you know, they need to navigate, they need to network, you need to move within the organization. But now they're saying, I don't know what's coming. I don't know what jobs are out there, what's around that corner. I'm relying on you, my company, my employer, to tell me what the future looks like, what the jobs look in the future here. So again, 50% of employees are saying that. And then on the other side, 42% of the survey respondents share that the company, again, is responsible for upskilling them, to making their skills be relevant. You know, again, that they are doing the job, that they don't know about what's coming, but that we're upskilling and helping them navigate those waters. So very different dynamic from owning your own career path to really putting a lot on you and the company from an employment perspective with how they can move forward with their careers.
With that, 61% of employees are extremely confident. They're confident that their skills are transferable to other industries. So again, they're looking at you, the company to help them navigate what jobs are coming. They want you to upskill and help them understand and get better in their role and also give them those stretch assignments and opportunities. But now they also are feeling very comfortable and confident, different than it was quite a while ago, that their skills are going to be transferable to different industries. So with that, from an employee-employer perspective, this means that your talent retention strategies need to be rooted in three things. You need to be rooted in mobility. Mobility is key, giving opportunities within the organization that also helps a lot with cost, retention, redeployment, all of that. Giving them the skills that they need to do the jobs, not only today, but in the future, as well as growth. Giving them opportunity for growth.
Yeah, really good insights. Thanks, Meredith. You know, LHH has helped individuals with their career navigation for decades. That's what we're originally known for. Helping an organization create their strategy for internal mobility. It's a little bit different, but we do know that there are some common factors that help to ensure success. So you may be wondering, what are those? How do we get started? LHH was the first to formalize an approach and a structure, if you will, to help align individual career aspirations and goals with an organization's and a workforce requirements package that essentially we have the career transition and mobility practice that we are a part of. But in that we've been able to define specific roles and responsibilities that ensure success. We have employees, managers, and the organization. Three legs of the stool. Without one, it doesn't work. All three are critical. Employees from the perspective that they own their career. They need to be enabled to own their career. Managers because they need to enable, they need to have critical conversations, and they need to be willing to support. And the organization needs to create the framework, the structure, to allow mobility to occur. Now this could look different in each organization, but those three aspects are critical.
Further, we know there are four aspects that help ensure success. First is define your talent mobility or your internal mobility strategy, your framework. What does that mean for you? What's the infrastructure? How are you providing line of sight and visibility and transparency for internal positions and roles? How are you equipping and helping people who don't own their career progression? How are you looking at your current workforce as your talent pool? That's the first thing. The second are the tools, the processes, the resources that you provide to employees to empower them to own their career. Self assessments, reflection activities, various types of tools that they can then look at their own skills, their interests, their motivations, their value, what they bring to an organization and their style, and helping them think not just about that next role, but think broader about their career, where they are, where they want to go. The third, of course, is the organizational support and the communication. Transparent communication about how the organization is supporting. This was interesting. When we surveyed, most of the organization said that they have an internal mobility strategy. Here to guess how many employees said that they felt their organization supported? Anyone want to guess? Well, very low. 33% of the 30,000 employees responded said that they felt their organization supported internal mobility. That's a big gap between what organizations think and what the employee experience really is. So it's a tremendous opportunity. The fourth, of course, is the role of the manager. There is not a talent strategy where the manager doesn't play a critical role. They're critical in all aspects. We need the manager to be having the right conversations. But the challenge is most managers are not comfortable with the performance conversations as well as career progression. So that leads us in a tough spot, a really tough spot.
Yeah, absolutely, Stephanie. So managers, I'm going to just speak to that. Managers are critical. I mean they are the people that are in the path of any career development for any individual. I mean, it is their direct leader, your boss, supervisor, manager, and employees have repeatedly told us in this survey as well that we hear it all the time, is that they expect their organization to guide them toward the workplace of the future, which we shared earlier. But where does that guidance come from? That guidance comes from their manager. So those managers need to be trained in the progression of how do you have career development conversations. How do you help the employee population navigate and have the joy and enjoy what they're doing and movement and activity that they're going to be staying with the organization? So managers that are trained to identify and promote skills growth is key. It also is, I'll say on the survey, it was unfortunately the number one critical mobility barrier that employees saw was their manager. So you know, as you've seen over careers, it's like most time you're not leaving the organization, you're leaving your direct manager. Many times for employees, 46% of workers share that they don't feel that their managers would support them in a move in their goal. That's almost 50% of the employee population that feels that their direct boss would be in their way of movement. A manager. So what is that word? I guess that's hoarding. It's a hoarding of talent, is really critical. And it is one area where, you know, it's a bit short-sighted as the managers have a job to do. They have a role, they've got their team that are helping them progress with what their goals are for the organization. But many times it's easier to keep your best talent because they make your life easier and then they're not moving around. But that is extremely short-sighted for the overall organization. So if you think about the happiness of that employee of giving them the new skills that they can learn in a new role, it's developing their talent and their career expectations. It's really putting a limiting factor on the opportunity for you to keep that person and the opportunities that they bring to the organization. So, you know, we see a lot of hoarding and I'm sure you do as well.
I think as an organization and an employer, you need to give those managers the skill sets to know that it's beneficial to them when they're helping those people that they work with every day move forward in their career and be happy with them. Hoarding is tough and I will say personally, like letting go of great talent is also really, really tough. So you've worked in this space for—we won't mention yours or for a little bit of time, right? You got some experience for that area. So I'm curious what sort of personal experiences have you had when it comes to internal mobility and the manager's role?