5 Interesting Facts About Work Today

Did you know that the average employee spends approximately one-third of their life at work? That adds up to roughly 90,000 hours. Given that enormous commitment, it’s easy to see why career development plays such a powerful role in employee retention.  

As the expectations of the modern workforce shift, individuals are increasingly seeking opportunities for growth, purpose, and impact within their roles. Companies that prioritize and invest in their employees’ professional development will not only foster a more engaged and committed workforce, but also position themselves to attract top talent. 

Career Growth and Retention Drivers 

As you plan your organization’s career development strategy going forward, keep in mind these five career facts from our ongoing research. 

1: Professional Development Is More Important Than You Think

 Professional development is an essential element of employee satisfaction. Employees in our client organizations consistently cite growth as the number one thing that would improve their job satisfaction. 

2: Most Organizations Do Not Hire from Within

According to a 2023 report from The Josh Bersin Company and AMS, internal hiring rates have fallen to their lowest points in years. Internal hires now make up a dismal 24% of all hires, which is down significantly from 40% in 2020. If your organization fails to hire from within, you are essentially telling your employees that you do not value their development, which makes it very likely that you will lose them.  

3: Employees Are Often Unaware of Career Opportunities 

While 13% of employees feel they do not have career opportunities, more than a third neither agree nor disagree. These findings indicate a certain degree of ambivalence around career and the need for organizations to provide more clarity and guidance on the opportunities available to their employees. 

4: Lack of Opportunities Can Hurt Your Retention Rate 

 Career is the second most common reason employees consider leaving their organization, and those who feel they do not have career opportunities are four times more likely to leave in the next year. 

5: Development Means More Than Promotions & Raises 

Employees cite skills development and growth and formal career opportunities as top drivers of job satisfaction. This is consistent with findings in GP Strategies’ career research, which indicates that 85% of the workforce sees no problem with staying in careers that are interesting. As long as they can continue to develop their skills, these employees are content to remain in their current roles.  

The Strategic Power of Career Development in Employee Retention

GP’s research indicates that focusing on your employees’ career and professional development is a significant competitive advantage. Career has the power of driving deeper engagement and commitment to your organization, while setting the stage to attract outside talent looking for an inspiring workplace where they can make a difference. 

Learn more about equipping employees and managers with the skills they need to help build a culture of career growth. 

[1] Cappelli, Peter. May-June 2019. “Your Approach to Hiring Is All Wrong,” Harvard Business Review, Issue 3, p. 51. Available at: https://hbr.org/2019/05/recruiting. 

About the Authors

Colleen Casey

When I was about 8 years old, I made the obligatory pilgrimage of every born and bred New Jersey native to the Thomas Edison museum. The other children and I pummeled our patient tour guide with innumerable questions (mostly pertaining to whether or not Mr. Edison had died on the premises). Upon learning that Mr. Edison had not received much in the way of a formal education, I inquired “But how was he so smart if he never went to school?!” The simple and astute response of the guide – “He asked a lot of questions.” My career in public opinion and employee polling has led me to do just that – ask a lot of questions in order to better understand how others see the world and what shapes those perceptions. In my current role, I use the insights that I gain from engagement surveys to help our client organizations better understand how their employees view their work, their leaders and the organization’s culture in order to enable them to implement meaningful change based on employee feedback. I feel that my time spent studying sociology and living in France provided me with a unique opportunity to see the world through a different lens and understand how culture informs the way we view ourselves, the world around us, and the institutions that shape us. These academic and personal experiences have been highly valuable to me in my career, heightening my sensitivity and awareness of the necessity to bring a unique approach to client measurement strategies, an approach that aligns with and reflects their unique organizational culture.