You probably thought the Great Resignation was over. A 2024 WTW study shows that confidence about talent attraction and retention has grown nearly 10% since 2022. But this optimism could be misplaced.
The latest Sthree How the STEM world works study reveals that just 37% of STEM professionals are committed to staying with their current employer for the foreseeable future. And Microsoft and LinkedIn’s latest Work Trend Index shows that people are even more likely to quit today than during the Great Resignation.
Losing talent at scale can derail productivity, stifle growth, and jeopardize your company’s future. What can you do to re-engage your workforce before it’s too late?
Pay versus purpose: What matters more?
Employee frustration is often caused by compensation concerns, and our research shows that less than half of STEM professionals feel they are paid fairly. But with ongoing global inflationary pressures, offering significant pay increases may come at the expense of other parts of your business.
Instead, you need to stay competitive in other ways. The good news is that today’s STEM professionals increasingly prioritise purpose over profit. In fact, company culture is one of the top reasons employees leave: an MIT study found that a toxic culture is 10 times more likely to cause attrition than low salaries. Focus on creating a welcoming environment where employees feel respected, heard, and empowered to do their best work to keep them on board.
The new non-negotiables: flexibility and self-growth
Flexibility is now an expectation, not a perk. New Possible’s What Workers Want 2025 survey found that this is the second biggest reason employees stay, after relationships with colleagues. Pay didn’t even feature in the top five motivators.
Hybrid working policies are just one way to offer flexibility. Sabbaticals, compressed workweeks, or unlimited PTO can set you apart and keep your workforce engaged. These initiatives could even attract new talent with the skills to boost business growth.
Professional growth is another critical factor. In 2024, 41% of employees said they would quit if they weren’t given training opportunities. Investing in training, upskilling and career progression isn’t just a retention strategy – it’s a productivity booster and long-term investment in your talent pipeline.
Your leadership team: the make-or-break factor in retention
A great leadership team is a critical factor in whether your employees stay. Research from Culture Amp has found that only 35% of employees with poor leaders are committed to their roles – even if their direct manager is good. If both their manager and senior leadership are weak, that proportion drops to just 19%.
What sets strong leaders apart? Trust. Our research shows that employees who trust their executives are more motivated, satisfied, and committed than those who don’t.
What sets strong leaders apart? Trust. Our research shows that employees who trust their executives are more motivated, satisfied, and committed than those who don’t.
Trust is built through transparency, strong communication, and the ability to handle conflict effectively. But these soft skills are often neglected in executive hiring processes – overshadowed by tenure, technical qualifications, or existing relationships with senior management. Listen to your people and focus on the traits that matter most to them when appointing and developing leaders.
How to prevent the second Great Resignation?
You can’t stop employee turnover entirely, but you can prevent the kind of mass exodus that disrupts business. Here’s how:
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Don’t wait for a crisis
Proactive employers stay ahead of talent issues. Regularly check in with employees to understand their needs and concerns before they start looking elsewhere.
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Build a culture of trust
Pay rises alone won’t stop employees quitting. But combine them with a strong workplace culture and leaders who are transparent and trustworthy, and you’ll create somewhere that’s a good place to work – and difficult to leave.
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Show employees a bright future
Make it clear that employees have room to grow within your organisation. Invest in training, mentorship and clear progression paths to give employees a compelling reason to stay.
For more information about SThree, click here.
