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Despite ongoing talent shortages, workforce attrition has slowed and fewer workers plan to change jobs this year — at least for the first half of 2024, according to a February 6 report by Robert Half, a talent solutions and business consulting company.
About 36% of workers surveyed said they plan to look for a new job in the next six months, up from 49% in July 2023 and 41% for 2022.
“The labor market turmoil of recent years has normalized,” Dawn Fay, Robert Half’s chief operating officer, said in a statement. “We’re now seeing workers stop and take stock of their careers, and employers taking a more strategic approach to hiring.”
Compared to the big changes they underwent during the Great Resignation, workers are more likely to stay in their current role this year, according to the report. In the survey of more than 1,275 workers, they noted several reasons for staying put, including that their current job offers a level of flexibility they’re not willing to lose, they feel fulfilled in their current role and feel well compensated for their work.
By industry, some workers are more likely to advance than others. About 55% of marketing and creative professionals said they might make a move this year, followed by workers in technology (45%), legal (40%), human resources (31%), accounting and of finance (27%) and administrative customer support (27%).
Although some workers plan to move on to a job, many said they won’t switch unless the new position meets certain criteria. more than half cited a higher salary, while others said they would need better benefits and perks and improved remote flexibility.
“While employers may have more leverage in today’s labor market, they still face hiring challenges,” Fay said. “Professionals with the desired skills to help boost company productivity, lighten workloads and complete mission-critical projects continue to be in high demand. Hiring managers should have a thoughtful plan in place to be ready to compete for talent.”
Near the end of 2023, 1 in 7 workers said they would look for a new job over the next 12 months, according to a Yoh report. They indicated higher salary or better benefits as the main reasons for looking for a new position.
However, many workers choose “The Great Eve” and they want stability for a new career transition. As people look for a place to call home, leaders can enhance the employee experience, encourage openness and create internal growth opportunities, several talent professionals told HR Dive.
Actually, a new sense of “ambition” appears to be emerging, according to a report by Randstad Workmonitor, which emphasizes work-life balance, flexibility, equality, participation and upskilling. About half of the workers surveyed for this report said they are willing to stay in a role they like, even if there is no room for advancement, and are more likely to value balance, scheduling flexibility and training opportunities versus career ambition.