Citrix® Arms Companies in War for Talent

Rhea-AI Summary

The latest survey by Citrix reveals that 40% of U.S. knowledge workers have changed jobs or are considering doing so, highlighting a significant shift in workplace dynamics. Key findings show that burnout is prevalent, with 35% citing it as a reason for job changes. Interestingly, 53% of job changers accepted lower salaries, indicating that flexibility and meaningful work are primary motivators. The survey underscores the importance of employee experience, with 60% leaving for better innovation opportunities. As companies adapt to hybrid work models, addressing potential inequities remains crucial.

Positive

• 40% of knowledge workers have changed jobs or are considering it.
• 53% of job changers accepted pay cuts, indicating a shift in job priorities.
• 80% value work-from-anywhere options, emphasizing the need for flexibility.

Negative

• 35% of workers left jobs due to burnout, indicating employee dissatisfaction.
• 38% believe remote workers will face career disadvantages in hybrid models.
• 47% fear less promotion opportunities for remote workers.

New survey provides insights into global worker shortage and actions businesses can use to mitigate its impact

FORT LAUDERDALE, Fla.--(BUSINESS WIRE)-- Workers are leaving jobs like never before, and it’s causing a shortage of talent that has companies around the globe reeling. According to a survey conducted by Citrix Systems, Inc. (NASDAQ: CTXS), 40 percent of 1,000 knowledge workers in the US have left at least one job in the past year or are considering doing so. What’s behind the “Great Resignation?” And what can enterprises do to mitigate its impact?

“It’s clear from our research that employees today are willing to jump ship for jobs that give them the freedom to do meaningful work from the location of their choice and provide equal opportunities to contribute and advance their careers,” said Tim Minahan, Executive Vice President of Strategy, Citrix. “And in order to attract the workers they need to move their business forward in one of the tightest labor markets the world has ever seen, companies will need to serve them up.”

Among the key findings of the Citrix survey:

Workers aren’t Freaking Out

Workers are burned out, and 35 percent of respondents to the Citrix survey say it has caused them to leave a job. But they aren’t freaking out. When asked why they opted to move on, only 6 percent said they “panicked and made an emotionally driven decision.”

• 33 percent just wanted to try something new
• 13 percent saw it as a way to inject certainty into their future and regain some of the control they’ve lost during the pandemic

Money isn’t Everything

Salary and benefits are important. But they aren’t what’s inspiring workers to seek new roles. Among the participants surveyed who have changed jobs in the last 12 months:

• 53 percent took a pay cut
• 60 percent joined startups and accepted equity in exchange for salary

Flexibility is Key

Today’s workers prefer flexible arrangements that give them the freedom to choose where they work best, including at home, in the office or on the road.

• 80 percent of respondents to the Citrix survey said it was “very” or “somewhat” important that they be able to work from anywhere
• 55 percent said they would accept a pay cut in return for the ability to do so

Employee Experience has Never Mattered More

Modern workers want to engage in innovative work, be productive and make meaningful contributions to the business that are valued without interference from complex technology and processes. And as the Citrix survey reveals, they’re likely to move on if they can’t:

• 60 percent of workers polled left jobs for positions that provide more opportunities to innovate and try new things
• 38 percent were not engaged in or passionate about their former role
• 31 percent were frustrated by overly complicated technology and processes
• 47 percent believe they can do more meaningful work in their new roles
• 47 percent feel their contributions are valued and recognized

Fear of the Digital Divide is Real

The global pandemic has made clear that remote work can boost employee engagement and productivity. But as companies transition to hybrid models, there is fear it will open a new digital divide. And it is not unfounded.

“If left unchecked, hybrid models can quickly establish two classes of workers and infuse the workplace with inequity and bias,” Minahan said.

Respondents to the Citrix poll support this notion:

• 38 percent believe remote employees will be at a career disadvantage for not working out of a central office location
• 47 think they will be less likely to be considered for promotion/advancement opportunities

In addition to why workers are leaving jobs, the Citrix survey also sought to understand what keeps them around. Of the respondents who indicated they have not changed jobs,

• 53 percent like what they do
• 41 percent say their benefits are competitive and beyond financial security, provide for their physical and mental well being
• 40 percent can work flexibly
• 34 percent feel trusted and empowered to work when and how they work best
• 27 percent are afraid to make a change given the ongoing uncertainty
• 22 percent say their company invests in their development and provides opportunities to advance
• 12 percent will lose stock options or a retirement plan if they leave

“The battle for workers has never been more fierce,” Minahan said. “To remain vibrant, companies must embrace flexible work models that allow them to find talent where it lives. And to keep it, they must create an equitable environment in which employees can engage and collaborate in a transparent and efficient way regardless of where they are located.”

And this is where digital workspaces come into play.

“Organizations that provide employees with tools that remove the friction from work and enable them to be and do their best will ultimately thrive,” Minahan said. “Because when employees feel empowered by the solutions they use rather than hamstrung by them, they can focus, innovate and deliver value.”

Citrix provides a complete digital workspace platform that companies can use to enable hybrid work and create the space employees need to succeed, wherever they happen to be. Click here to learn more about the company’s solutions and how they can empower your team to be and do their best.

About Citrix

Citrix (NASDAQ: CTXS) builds the secure, unified digital workspace technology that helps organizations unlock human potential and deliver a consistent workspace experience wherever work needs to get done. With Citrix, users get a seamless work experience and IT has a unified platform to secure, manage, and monitor diverse technologies in complex cloud environments.

For Citrix Investors:

This release contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and of Section 21E of the Securities Exchange Act of 1934. The forward-looking statements in this release do not constitute guarantees of future performance. Those statements involve a number of factors that could cause actual results to differ materially, including risks associated with the impact of the global economy and uncertainty in the IT spending environment, revenue growth and recognition of revenue, products and services, their development and distribution, product demand and pipeline, economic and competitive factors, the Company's key strategic relationships, acquisition and related integration risks as well as other risks detailed in the Company's filings with the Securities and Exchange Commission. Citrix assumes no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein. The development, release and timing of any features or functionality described for our products remains at our sole discretion and is subject to change without notice or consultation. The information provided is for informational purposes only and is not a commitment, promise or legal obligation to deliver any material, code or functionality and should not be relied upon in making purchasing decisions or incorporated into any contract.

© 2021 Citrix Systems, Inc. Citrix, the Citrix logo, and other marks appearing herein are the property of Citrix Systems, Inc. and may be registered with the U.S. Patent and Trademark Office and in other countries. All other marks are the property of their respective owners.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210929005061/en/

Media Contact:

Karen Master

Citrix

+1 216-396-4683

Karen.master@citrix.com

Source: Citrix Systems, Inc.

FAQ

What percentage of U.S. knowledge workers have changed jobs according to Citrix's survey?

40% of U.S. knowledge workers have changed jobs or are considering doing so.

What are the main reasons workers are leaving their jobs according to the Citrix survey?

Burnout, desire for innovation opportunities, and preference for flexible work arrangements.

How many workers would accept a pay cut for the ability to work from anywhere?

55% of respondents indicated they would accept a pay cut for the ability to work from anywhere.

What concerns do workers have about hybrid work models?

38% of workers believe remote employees will face career disadvantages in hybrid work models.

What does Citrix suggest companies should implement to retain talent?

Citrix suggests companies embrace flexible work models and create an equitable environment to retain talent.