Source | www-cnbc-com.cdn.ampproject.org | Jennifer Liu
In 2019, workers were quitting their jobs at record rates, with labor experts saying workers did so in order to secure the pay raises and promotions they weren’t getting from within.
Then, beginning in March 2020, the labor market shed 20.5 million jobs in the first few weeks of the coronavirus pandemic. Now, a year later, there are still nearly 7.9 million fewer Americans counted as employed than in February 2020, while the labor force is down 3.9 million.
But with signs pointing toward recovery in many economic sectors, workers are feeling the itch to job-hop yet again. By some estimates, 1 in 4 workers is planning to look for opportunities with a new employer once the threat of the pandemic has subsided, according to Prudential Financial’s Pulse of the American Worker survey. The data, collected by Morning Consult on behalf of Prudential in March 2021, includes a sample of 2,000 employed adults, including a statistically significant sample of workers that are or have been working remotely during the pandemic.
Here’s a look at who’s planning to leave, and what employers should be thinking about as they retain — or recruit — in a post-pandemic environment.
Who’s leaving, and why
Of the 26% of workers planning to leave their employers after the pandemic, 80% are doing so because they’re concerned about their career advancement; meanwhile, 72% say the pandemic caused them to rethink their skill sets. More than half of potential job-hoppers have sought out new trainings and skills during the pandemic, possibly to prepare to change jobs in the next few months.
Workers who want to quit overwhelmingly say they’re looking for a new job with more flexibility. Indeed, even among those who aren’t considering changing jobs, half of people currently working remotely say if their current company doesn’t continue to offer remote-work options long-term, they’ll look for a job at a company that does.