Will "flight risk" translate into the increased importance of relocation?

Nearly 4 million Americans left their jobs this past April, according to data from the Bureau of Labor Statistics — an unprecedented number in the two decades the government has been tracking this data, pushing the "quits" rate 24% higher than it was before the pandemic. And now HR Grapevine reports that June data from WorkL surveys indicates that over 25% of employees are a "flight risk!" With more than a quarter of a million individuals having taken the workplace survey (about 5,000 employees a week), the test measures factors such as working environment, relationship with line manager, sense of purpose and career progression. The level of flight risk gets calculated from four questions in the WorkL "happy at work" survey and scoring below 60% flags an employee as a potential flight risk. Those specific questions are:

1. Does the employee feel they are fairly paid?
2. Does the employee have a good relationship with their manager? 
3. Does the employee enjoy their job?
4. Does the employee feel they are being developed?

When broken down by industry, those working in retail are most likely to be a flight risk with a 32.33% risk. Next in line are travel and leisure workers, followed by hospitality. But many are also concerned about employees in any industry who are in positions where they deal with service-delivery stress, on top of the stress being experienced in day-to-day life (fears from the pandemic, along with economic, social and environmental issues).

This survey data comes along after we had seen Microsoft's 2021 Work Trend Index report which shared that almost half of the global workforce was considering a job switch, with younger workers even more likely to head elsewhere. Work flexibility was not directly asked about in the WorkL happy at work survey, but was definitely an element in the Microsoft study. 

Should companies be unable to effectively change a situation that is creating the flight risk increase, they will need to replace those walking out the door. That's where mobility has the chance to support talent management and recruitment. We suggest partnering now with them to improve the company's competitiveness in attracting and securing talent. Consider re-designing your relocation policies to add flexibility and unique benefits. Consider creating effective communication pieces and offering candidate counseling sessions to help talent understand the degree of support they will receive when they take on a new position where relocation is needed. Need a few more ideas? Try: "Three ways global mobility can help to attract and retain key talent in the midst of the 'Great Resignation.'" Some of the ideas go beyond just attracting new talent to fill the bucket back up but also look at programming to help develop and retain these great people once you have them!