Why Are Employees Switching Jobs?

We are officially entering a post-pandemic society as vaccinations continue to be distributed, states loosen their restrictions and businesses reopen their doors.

In 2021, experts predict that the economy will expand 7%, which indicates that many employees may be looking to switch their jobs in the near future.

In fact, Prudential Financial’s Pulse of the America Workers survey found that 1 in 4 Americans are preparing to look for new opportunities once the pandemic is no longer a threat. Even more, Microsoft’s Work Trend Index survey found that 40% of people are considering leaving their employer this year.

This is likely because the past year has highlighted what is most valuable to all people, and workers no longer want to compromise their happiness. Although many employees have been working harder than ever before, people feel that there is a huge lack of opportunity for skills development and career growth.

Along with the inability to advance their careers, workers have also expressed wanting their employers to offer more benefits that can help their economic wellbeing. In fact, the study found that workers consider benefits like retirement plans and health insurance to be crucial to their financial resilience.

Company culture has also been increasingly highly valued, and organizations that make it a priority will thrive and avoid losing their top talent.

“Leaders must be focused on cultivating thriving cultures of internal mobility, prioritizing continuous learning, and delivering robust benefits to support their workers,” said Rob Falzon, vice chair at Prudential.