While we may think everything is coming up roses in organizations all across the country, the simple fact is that many employees--in all sorts of companies, in every industry--are not happy at all. And they're taking out all this unhappiness on their employers.
Every year, XYZ University compiles a list of terrifying workplace truths. Here are 11 of them--plenty to keep you up at night.
1. More than 16 percent of new hires quit within their first seven days on the job; 31 percent quit within the first six months.
2. Nearly 40 percent of young professionals in the U.S. are so unhappy with the lack of paid parental leave, they would be willing to move to another country.
3. Fully nine out of every 10 Millennials expect to change jobs every three years. This means most Millennials will have 15 to 20 jobs in their lifetimes.
4. By 2020, more than 40 percent of the American workforce will be freelancers, contractors, or temporary employees.
5. The labor force participation rate is falling fastest among workers under age 30.
6. In 1965, executive pay in the U.S. was 20 times higher than worker pay. Today, executive pay is 300 times worker pay, and has increased 54 percent since 2009.
7. On average, businesses in the U.S. spend $250,000 per year to cover the costs associated with employee turnover.
8. The average raise is 3 percent. The average salary increase after switching jobs is 10 to 20%. Staying employed at the same company means earning 50 percent less over your lifetime.
9. When it comes to math and science, the U.S. ranks 24th out of the 33 countries that make up the Organization for Economic Cooperation and Development.
10. Of the approximately 100 million Americans who hold full-time jobs, 70 percent are not inspired by their work or their managers, and are therefore less productive and engaged at work.
11. 38 percent of global employers are experiencing a talent shortage, resulting in reduced competitiveness and productivity, high employee turnover, and low morale.
Like this column? If so, sign up here and you'll never miss a post.