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Fewer workers planning to switch jobs

Report shows decrease in job switching intentions among US employees.

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36% of employees are planning to seek new employment.
44% of respondents is the flexibility offered by their current job.
They gathered responses from over 1,275 adult workers.

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A recent study released today by Robert Half Inc. (NYSE: RHI) reveals a notable decrease in the number of workers intending to change jobs. Merely 36% of employees in the United States are planning to seek new employment within the next six months, a considerable drop from 49% in July 2023.

So, why the shift towards staying put? The primary reason cited by 44% of respondents is the flexibility offered by their current job, a perk they are unwilling to forfeit. Following closely behind are 42% who express fulfillment in their current roles and 37% who feel adequately compensated for their work.

Dawn Fay, operational president of Robert Half, remarked, “The turbulence in the labor market witnessed over the past few years has subsided. Now, workers are taking a pause to evaluate their career paths, while employers are adopting a more strategic approach to hiring.”

The percentage planning to change jobs has declined from 74% to 55% since July 2023.

This trend of reduced job-switching intentions is evident across different age groups. For instance, among Gen Z respondents, the percentage planning to change jobs has declined from 74% to 55% since July 2023. Similarly, for baby boomers, the figure dropped from 23% to 13%.

Nevertheless, when asked about factors that might prompt them to consider a new position, 55% of workers indicated a higher salary, 36% mentioned better benefits and perks, and 32% desired a job with greater remote flexibility compared to their current role.

Fay emphasized that although employers may currently hold more leverage in the job market, they are still encountering hiring obstacles. “Professionals possessing sought-after skills to enhance company productivity, alleviate workloads, and complete crucial projects remain in high demand,” she stated. “Hiring managers need to devise a well-thought-out strategy to compete for top talent.”

The survey, conducted online, gathered responses from over 1,275 adult workers in various sectors such as finance and accounting, technology, marketing and creative, legal, administrative and customer support, and human resources, at companies with 20 or more employees in the US. The survey was carried out from October 27 to November 17, 2023.

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