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According to the survey, almost half of the employees are looking for a new job or are planning soon. This suggests that the phenomenon of the pandemic era, known as massive layoffs, continues until 2022.
By that time, 44% of employees were “job seekers,” according to Willis Towers Watson’s 2022 Global Benefits Attitude Survey. 33% of them are active job hunters looking for new jobs in the fourth quarter of 2021, and 11% will look for them in the first quarter of 2022.
“The data show that employees are ready to go somewhere and are open,” said Tracey Malcolm, a global leader in future work and risk for consulting firms.
The survey surveyed 9,658 US employees from large and medium-sized private employers in a wide range of industries in December 2021 and January 2022.
Mass retirement
Great resignation, also known as Great Reshuffle, has been a hallmark of the US labor market since the spring of 2021 when the economy began to rise from the pandemic hibernation and the demand for workers between companies increased.
Jobs and layoffs have risen to historic highs, and layoff rates have fallen to record lows. Wages have grown rapidly as businesses compete for talent.
Nearly 4.3 million people quit their jobs in January, just below the monthly record set in November, according to the latest federal data. In 2021, an annual record, about 48 million people retired.
According to economists, the data suggest that most people will not stop being on the sidelines. Some have completely reinvented their careers.
According to a survey, more than half (56%) of workers say that wages are the number one reason to look for a job with another employer. 41 percent will leave for a 5 percent increase.
Households have been persistently fighting high inflation. It ate up the budget and exceeded the average worker’s salary increase.
However, almost 20% say they get a new job at the same wage, suggesting that factors other than wages are also important. Health allowances, employment security, flexible work styles, and severance pay were each behind salaries as the top five reasons employees moved to other locations.
“Some are starting to raise wages, but others aren’t,” Malcolm said.
According to Malcolm, one of the biggest disconnects between workers and employers is about remote work. Employees want more remote work than their current employer allows.
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Currently, 26% of survey respondents always or most work from home, and 15% evenly divide their home and office. However, higher shares (36% and 22% respectively) will prefer remote work.
“”[Employers] Promoting a return to onsite [work]”I think companies need to be careful about what’s exciting,” Malcolm said. “It may not be the model employees want.”
Research shows that faster commuting times, lower costs associated with moving to the office, and better management of household commitments are the three biggest benefits workers see in remote work. They also see disadvantages. Lack of social interaction in the workplace, a sense of isolation, and the greater challenges of building relationships conclude the top three shortcomings.