New research has revealed that there have been 48% fewer promotions during the pandemic and more than a third (38%) are planning to resign.
Learning and development platform HowNow’s research found a lack of growth was one of the main reason’s employees wanted to quit (42%).
However, the most popular reason was stress related (60%), followed by a clash with management (51%).
Retaining key staff:
Speaking to HR magazine, Nelson Sivalingam, CEO and co-founder of HowNow, said this trend could cause talent shortages for businesses.
He said: “Employers don't want key skills and talents heading out the door because their staff decide to quit.
“That's how leaky talent buckets get created, with organisations having to relearn the things they used to know to plug those holes.”
Sivalingam said that given the speed of change, employers can't afford to lose top talent and HR therefore needs to prioritise engaging and retaining employees.
More than half (52%) said their training had stopped completely since the pandemic, while a further 23% said that it had ‘significantly decreased’.
Sivalingam added: “People value progress, the opportunity to grow and develop their role within the company and when they can't do it with you, that's when they start to look elsewhere.
“And that's why upskilling and learning and development should be priorities for employers, especially in these uncertain times.”
The research also found that when broken down into ages, those between 35 and 44 years’ old were the most likely (35%) to receive a promotion and employees aged 55 and over are the least likely (14%).
People aged between 25 to 34 were most likely to be looking to quit their job as more than half of them (54%) stated that they were actively looking for other opportunities.
HowNow surveyed 2,040 working UK professionals in February 2021.