The report, conducted by Amárach Research, highlights that younger workers, particularly Gen Z and millennials, are the primary drivers behind this trend. Over half of Gen Z workers (53%) and a third of millennials (33%) have changed jobs in the last 12 months. The primary reasons cited for this exodus include impacts on personal well-being and mental health, a lack of promotions or raises, and poor work-life balance.
A striking trend identified in the report is the increasing sense of isolation and demotivation among remote workers. There has been a 5% year-on-year increase in employees feeling disconnected due to remote working, with this sentiment most pronounced among millennials and Gen Z (86%).
The report also indicates that the job market remains highly fluid, with over half (52%) of the younger cohort contemplating a job change within the next year. This signals a potential continuation of high employee turnover in the near future.
In addition to job changes, the survey reveals a burgeoning interest in side projects and entrepreneurial ventures. More than four in ten workers in Ireland (42%) are considering opportunities to generate additional income through side projects or new businesses in the coming year.
The annual survey included responses from almost 700 workers across Ireland, offering a comprehensive snapshot of the current workforce dynamics.
Rising job dissatisfaction and the lure of better opportunities are key factors propelling this workforce mobility. Companies are now facing increasing pressure to address employee concerns about mental health, career advancement, and work-life balance to retain talent.
As the landscape of work continues to evolve, organizations must adapt to these emerging trends to foster a more engaged and satisfied workforce.
“Microsoft Ireland’s 2024 Work Trend Index highlights a significant shift in the job market, driven primarily by the younger workforce. This record level of job movement underscores the growing importance of addressing employee well-being, career advancement, and work-life balance. Employers must adapt to these evolving needs to retain talent and remain competitive,” said Bronagh Cotter, CEO of Recruit.ie.
