Despite ongoing talent shortages, labor force attrition has declined and fewer workers plan to change jobs this year — at least for the first half of 2024, according to a Feb. 6 report from Robert Half, a talent solutions and business consulting firm.
About 36% of workers surveyed said they plan to look for a new job during the next six months, down from 49% in July 2023 and 41% throughout 2022.
“The churn in the labor market of the past few years has normalized,” Dawn Fay, operational president of Robert Half, said in a statement. “We’re now seeing workers pause and take stock of their careers, as well as employers taking a more strategic approach to hiring.”
Compared to the major shifts experienced during the Great Resignation, workers are more likely to remain 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 that they aren’t willing to lose, they feel fulfilled in their current role and they feel well compensated for their work.
Although some workers plan to make a job move, many said they won’t switch unless the new position meets certain criteria; more than half referenced a higher salary while others said they would need better benefits and perks and improved remote flexibility.
By industry, some workers are more likely to move on 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 finance (27%) and administrative and customer support (27%).
“While employers may have more leverage in today’s job market, they still face hiring challenges,” Fay said. “Professionals who possess the desired skills to help boost company productivity, alleviate workloads and complete mission critical projects are still in high demand. Hiring managers should have a thoughtful plan in place so they are ready to compete for talent.”
Near the end of 2023, 1 in 7 workers said they’d look for a new job in the next 12 months, according to a Yoh report. They pointed to a higher salary or better benefits as the main reasons for seeking a new position.
However, many employees are opting for “The Big Stay” and want stability over a new career transition. As people look for a place to call home, leaders can boost employee experience, encourage openness and create internal growth opportunities, several talent professionals told HR Dive.
In fact, a new sense of “ambition” appears to be emerging, according to a Randstad Workmonitor report, which emphasizes work-life balance, flexibility, equity, belonging and upskilling. About half of workers surveyed for that report said they’re willing to stay in a role they like, even if there’s no room to advance, and they’re more likely to value balance, schedule flexibility and training opportunities over career ambition.