Dive Brief:
- According to KPMG researchers, a “Great Reconsideration” is underway. An August report titled “Looking for More” suggests that retention is tenuous at many U.S. companies, due to increased workload. Sixty-two percent of individuals responding to a survey noted this additional strain and 33% said their happiness had somewhat or significantly declined.
- Building on what HR pros already know about the labor market, KPMG reported about a third of survey-takers said their desire to stay at their job has decreased; another third said they are actively thinking about leaving their organization.
- “That one-third of active job seekers could be the critical third of your business that you need to ensure successful, sustainable growth,” the report said. “To help mitigate this, you need to understand who that one-third of your business are and their concerns, and work toward meeting their expectations.”
Dive Insight:
Why is it called the Great Reconsideration? According to the firm, HR leaders are reassessing “what transformations have worked, what have not, and what needs to be done to ensure that employees are satisfied, engaged, and committed.” In turn, workers are reconsidering their career goals, employer expectations and “their loyalty to their organization,” the report said.
While the branding is different, this era of the U.S. labor movement shares a crucial pain point with the last: hybrid work. More on-site respondents to KPMG’s survey reported wanting to leave their jobs than remote workers. And people still would quit if barred from remote work; 24% told KPMG as much.
More than half (56%) said they would like to see their company “provide more remote work.” About half (46%) wanted some mix of in-office and remote work. This echos the a recent Worklife Ventures study that suggested many employees miss their coworkers, among other things.
At the end of the day, while there’s some give and take, the power seems to remain in workers’ hands. On one hand, hiring growth has slowed, but experts say it’s still an employee’s market. In fact, the predicted recession likely won’t change that, PwC U.S. Chair and Senior Partner Tim Ryan said during a Washington Post Live session.
Additionally, a survey of union-related data shows worker dissatisfaction has come to a head; union participation has perked up after a decline and approval for labor organizing is the highest it’s been since 1965, according to Gallup research. An August 2022 report also suggested that most hourly workers would join a union if given the chance.
