A quarter of the workforce has changed jobs in the past year – Business Plus

Almost a quarter of the workforce (23%) changed jobs in the past 12 months, the highest level of employee movement for three years, according to Microsoft Ireland‘s 2024 Work Trend Index.

Employee movement is up significantly from last year (19%) and 2022 (14%), driven by younger workers, with more than half of Gen Z workers (53%) and a third of millennials (33%) leaving their employer in the last year.

The top reasons given for changing employers included personal well-being or mental health impact, lack of promotions or raises, and a lack of work-life balance, and there was a 5% increase year-on-year in employees feeling isolated, demotivated, and out of touch due to remote working, which was most common among millennials and Gen Z (86%).

The tech giant added the more than half (52%) of the younger cohort are considering changing their job in the next 12 months. A total of almost 700 workers across Ireland were questioned for the annual survey, which was conducted by Amárach Research.

More than four in 10 workers in Ireland (42%) are considering opportunities to make extra revenue via a side project or business in the year ahead.

There has been an increase of 5% year-on-year in employees feeling isolated and demotivated due to remote working. The sentiment was highest among Gen Z and younger millennials (86%).

“For the last three years, workers are saying they are overwhelmed, impacted by poor work-life balance, and for some, a sense of disconnect through hybrid working,” said Ronan Geraghty, chief operating officer of Microsoft Ireland.

“For employers, there is a need to create a more flexible, inspiring, and compelling employee experience to avoid such retention issues and directly address the concerns that are most impacting workers.”

Two-thirds of workers are engaged in upskilling for AI, with 34% believing that having AI skills is critically important to remain competitive in the jobs market. Additionally, a quarter feel that knowing how to use AI will help them get a promotion faster (26%).

Knowledge workers in Ireland are less concerned about the impact of AI on their roles (19%), compared to the global average (45%). However, AI adoption in Ireland (29%) is much slower in Ireland than globally (75%), signifying a distinct lack of access among workers.

Some 41% of respondents said their workplace should adopt AI to remain competitive, and half (53%) think that management have not taken a sufficient position on the technologies.

“AI is the most transformative technology of our time and can help organisations drastically reduce busy work while supporting workers to focus on the most important, creative tasks – giving back time to spend on high-value, satisfying activities,” said Geraghty.

“Failing to embrace AI risks missing an opportunity to re-engage and invigorate a workforce that is currently grappling with a sense of greener pastures elsewhere.

“To prepare for AI, training employees is essential and to help address the skills gap, in October, Microsoft launched a national AI skilling programme, designed to Skill Up Ireland, providing every person with the opportunity to develop the skills required to thrive in the era of AI.”

(Pic: Getty Images)