Eco&Stat n°2-24 - Dissatisfied employees are three times more likely to quit

The workplace experienced a profound shift during the pandemic. Headlines from around the world echoed a common sentiment – individuals are reassessing their careers and considering leaving their jobs in large numbers. Job seekers typically sought increased pay and opportunities to grow and develop – in other words, greater job satisfaction. Luxembourg is doing better than the global average, but 12% of employees are still planning to quit, based on figures collected from May to June 2023. This result varies with job satisfaction, indeed, dissatisfied employees are three times more likely to quit than satisfied ones. Additional evidence indicates that improving job satisfaction increases productivity and the number of job candidates. To improve job satisfaction, and workplace outcomes, management can focus on job quality, which encompasses six different dimensions: income and benefits, working time, work-life balance, discrimination, health and safety, employee representation or feedback, skills development and training, and stress.