Latin America. Global organizational management consulting firm Korn Ferry presented the results of its most recent Workforce 2024 study on work motivations and the reasons that drive professionals to choose, stay, or leave a job.
The report, based on interviews with more than 10,000 professionals from various sectors, analyzes current trends in the labor market and provides valuable insights for organizations looking to attract and retain talent in an increasingly competitive environment.
The results of the study highlight that the three main reasons why professionals choose a job in 2024 are:
· Flexible working hours: 38% of respondents prioritise flexible working hours, an aspect that is gaining importance, especially among women and older professionals with family responsibilities.
· Competitive salary: Compensation remains key, with 37% citing a generous salary and bonus package as a determinant.
· Job security: 30% consider job stability to be a crucial factor.
Reasons to stay in a job
On the other hand, the Korn Ferry study highlights that when it comes to retention, salary and benefits remain the main motivation, followed by work flexibility and an environment with friendly co-workers, thus confirming the importance of balancing economic needs with a positive work environment.
Some of the most prominent findings include:
· 60% of respondents said they would stay in a job they hate if they had flexible hours.
· Women prioritize flexible hours more than men, while younger people do not give it as much importance as their older colleagues; This is hardly surprising since women and older professionals tend to have more family responsibilities.
· 75% of those interviewed said that working flexibly and from wherever they want is essential.
Factors that drive people to leave a job
According to the Workforce 2024 study, professionals expressed that the main reasons for leaving their job are:
· Lack of growth opportunities: This is the biggest attrition factor, so there is a clear opportunity for companies to invest in training and professional development.
· Inflexible work policies, such as a lack of telecommuting options or adjustable schedules.
· Low salaries and weak organizational culture: 25% of respondents say they would leave a job if they perceived a toxic work environment.
Motivation and organizational culture
The report underscores that companies that invest in their organizational culture and offer learning opportunities not only retain their staff, but also motivate their employees to give more than their roles require.
"As the world of work continues to change, companies in Latin America must adapt quickly to meet the demands of their employees. Offering flexibility, development opportunities and a positive work environment are key elements to attract and retain the best talent," concludes Gabriela Castro, president of the Andean Region of Korn Ferry.
