Twenty-one percent of U.S. workers believe their professional future is out of their hands and that their sense of control has grown worse during the past five years, according to an April 8 report from the University of Phoenix Career Institute.
Half of workers reported burnout, reaching a record high on the institute’s Career Optimism Index. The majority of workers said they’re relying on hope just to get through the year.
“Looking ahead, the next five years will determine which companies set the new standards for employee retention and business success — and which fall behind,” John Woods, provost and chief academic officer at the University of Phoenix, said in a statement.
“Our Career Optimism Index highlights a critical opportunity for employers to build a resilient, engaged workforce at the pace of workers and the markets’ demands,” Woods said. “Organizations that fail to invest in talent development with intention and an eye on long-term success risk losing not just employees but productivity and competitive advantage.”
In the survey of more than 5,000 U.S. adults and 500 employers, workers were 52% more likely to experience burnout when they felt they weren’t progressing in their careers at the right pace.
However, workers named career development as one of the top ways to restore their sense of control and reduce burnout, with 71% saying upskilling is necessary for career advancement. Workers were less likely to feel disengaged and more likely to feel motivated if their current job provided training and career development. About 43% reported a lack of access to necessary training, and 86% said they were actively seeking skill development opportunities.
At the same time, 60% of employers said they preferred hiring new employees over training current staff. Employer investment in reskilling and upskilling also declined significantly since 2022.
Most workers are experiencing burnout and restlessness, leading to lower engagement and productivity, according to an isolved report. When looking for a new job, workers pointed to priorities such as flexible schedules, hybrid or remote work, better benefits and career development opportunities.
Internal development may stave off other problems, too. As companies race to implement artificial intelligence tools in the workplace, most tech hiring managers say their employers are hiring AI talent too quickly and not building a sustainable pipeline of candidates, according to a General Assembly report. Instead, companies should consider building a broad pool of external talent while investing in upskilling across their existing workforce, an AI for Indeed executive said.
Notably, though AI use has increased at work, only a third of workers say their employer provides AI training, according to a report from Jobs for the Future. Those who were currently enrolled in education or training were more likely to use AI, the report found.
