E X E C U T I V E S U M M A R Y & KEY THEMES Avoiding the retentionclif requires focusing on career development It’sworthnotingthatthisistrueat all ages — for Gen Z andMillennials as for older workers. Inboth of those cohorts, 72%saidthey would 3 out of 4 employeeswould prefer prefer toadvance intheircurrentcompanies, to advance at their current company versus 77% of those 45-60 and 78% of those over 60. Now,thetougher news.Eventhough most employees want tostay,iftheorganization failsto live up totheemployee deal, those employees will leave anyway. More than half of employees don’tsee apathfor advancement in their current First, the good news. Thepreference for company—and career advancement and employees seemstobegrowing where they professional growth are theNo.2 and No.3 Total rewards are top of mind, are planted, over job-hopping. A majority(75%) reasons for employees tobe lookingfor work. but people will stay for development of people said they would rather staywith their and career growth company toadvance in their careers. Whenweaskedemployees whomayleave whatwould helpthemdecidetostaywiththeir company,payand benefits predictably topped More than half of employees thelist. And, here again, career took theNo.2 don’t seea path for spot. Thisyear’s respondents citedinternal career opportunities (41%)and better skills development advancement in their current (36%)as their other top reasons for staying. company —alackofcareer Ongoingcompetitionfor thebest talentcoupled 61% 41% advancement andprofessional withan uncertain economymeanscompanies growth are the No.2 and are in danger of losing talented employees if they can’tdeliver on thepromiseof career No.3reasonsforemployees growthandadvancement. Pay&Benefits Career Growth to be looking for work. 2023 Global HR Research Report: The State of Performance Enablement 9