The so-called “Great Resignation” could transition to the “Great Retention” if employers address gaps between their perceptions and employee realities, according to the University of Phoenix Career Institute.

The Institute released its 2022 Career Optimism Index, which included findings from 5,000 surveys of employees and 500 U.S. employers.

Among the highlights:

• Compensation: 86% of employers think their employees are satisfied with their compensation but, in reality, nearly half of employees are unsatisfied and 56% are living paycheck to paycheck
• Training: 89% of employers say upskilling opportunities are provided frequently, in comparison to 61% of employees who say these opportunities are provided frequently
• Advocacy: 91% of employers believe their employees have someone in their professional life who advocates for them, but only 63% of employees agree

“The second year of the pandemic has revealed American workers’ resiliency, grit and optimism against a multitude of challenges; however there is a clear disconnect between employers and their employees that must be addressed in order to retain and grow talent amid the Great Resignation,” University of Phoenix Provost John Woods said in a press release.

The survey found nearly 1 in 3 Americans would quit their jobs without having another, but nearly 70% would consider staying if their employer made key changes.

About the Career Optimism Index:

Each year, the Career Institute calculates an Optimism Score considering the five pillars of career optimism: Financial Security, Skill Development, Mental Health/Wellness, Career Trajectory, and Job Security. 

The scoring scale ranges from 0 to 100, with 0 being the least optimistic and 100 most optimistic about careers. This year’s overall Career Optimism Score lands at 64 (from 65 last year), reflecting stability in levels of career optimism and strength in Mental Health/Wellness (80), Job Security (82) and Career Trajectory (80), despite significant challenges of Financial Security (54) and Skill Development (53).