Three quarters of Millennials likely to leave jobs within next year, survey finds

Employers who’ve been hoping the impending recession will mitigate the impacts of the Great Resignation might not want to get their hopes up. According to a new study from Amazon and market research firm Workplace Intelligence, a full two-thirds of all employees say they’ll likely leave their job in the next year, and that figure sits at nearly three-quarters for Gen Z and Millenials. The reason for their potential departures? A lack of opportunities for career advancement and development in their current roles.

The research, which surveyed 3,000 workers, finds that employees are looking to advance their careers and develop their skills. For instance, though nearly 4 in 5 employees have recently benefited from career programs offered by their employers, they still desire additional benefits, like college tuition reimbursement and more networking opportunities.

The data also shows that many employees worry their skills aren’t up to par. According to the survey, 78% of employees are concerned they lack the necessary skills to advance their careers, and a further 71% are worried they lack the appropriate education. The pandemic may have been a factor in reducing employees’ confidence, as more than half say it’s negatively affected their skills.

To rectify this, nearly 9 in 10 employees say they’re motivated to improve their skills, with nearly as many already working on how they can get better. Top reasons employees say they were motivated to advance their career include better pay and better work life balance.

Read more: Upskilling and reskilling: The blueprint for success in a competitive hiring market

Dan Schawbel, a Managing Partner at Workplace Intelligence, commented on the findings in a press release, saying, “In today’s employee-driven job market, employees feel empowered to seek out an employer that truly supports their long-term career goals and ambitions. Companies who recognize this and provide a high level of support — from more time for skills development during the workday, to better learning benefits and programs — are going to stay one step ahead in the ongoing war for talent.”