IBM study finds COVID hasn’t stopped employees from seeking new jobs

The disruptions caused by the COVID-19 pandemic aren’t stopping employees from trying to advance their careers.

The economy saw the loss of global working hours equivalent to 255 million full-time employees in 2020, according to the International Labour Organization, yet voluntary job changes and skills development are still top of mind for employees, according to a recent study by the IBM Institute for Business Value. Indeed, one in five employees surveyed voluntarily switched employers in 2020 and one in four employees plan to switch jobs in 2021.

Employees — especially millennials and Gen-Z — are becoming more vocal about the things they expect from their employers. No longer is it enough to simply provide a salary and health benefits. Employees want support in their everyday lives and they are willing to change jobs, even in a rough economy, to get it.

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“The COVID-19 pandemic has changed employees' expectations of their employers, and leaders should take a more empathetic and personalized approach to attracting and retaining talent,” Amy Wright, managing partner for IBM talent and transformation, said in a release. "That can include developing tailored learning plans and career paths for employees, fostering inclusive and flexible cultures and removing bias in hiring with the help of technologies like AI."

More than anything employees want work-life balance and career advancement opportunities. Twenty-eight percent of the employees surveyed who said they plan to change jobs in 2021 cited the need for a more flexible work schedule and increased benefits that support their well-being as their reasons for wanting to leave their current company.

Additionally, over 40% of employees also said the ethics and values of their employer were important to engage them, and 36% of consumers surveyed said they valued continuous learning opportunities. This desire for greater learning has highlighted a problem in the way employers perceive employees’ skill levels, the study found.

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Forty-five percent of the organizations surveyed said they can't find the skills they need. However, 87% of employees surveyed say they already have the necessary skills to meet their employment goals.

As a result of this skewed perception of employee skills, IBM has expanded its SkillsBuild program to the U.S. SkillsBuild is a free, online learning program to help professionals improve their job proficiency through different courses.

"The COVID-19 pandemic, combined with rapid technological developments, is profoundly changing the workplace, Justina Nixon-Saintil, IBM vice president and global head of corporate social responsibility, said in a release. “At the same time, businesses are increasingly seeking to build strong and diverse talent pipelines. IBM SkillsBuild is designed to give professionals a powerful set of resources to help them cultivate meaningful careers.”