We all know that the job market hasn’t been great as of late, but that doesn’t stop candidates from seeking new opportunities. The majority of professionals are generally satisfied with their jobs. But even those satisfied are still open to moving to a new company, with 85% actively or passively looking to move. Only 15% of professionals don’t want to switch.
What motivates someone today to change jobs? The top reason is for better compensation and benefits, followed by good work/life balance and thirdly for opportunities for advancement. Interestingly, what is most important to people varies based on age and gender. The millennial generation, for example, places greater emphasis on switching for higher compensation, while older professionals look for a job that allows them to live a better lifestyle. In addition, women in the millennial generation are more concerned than men about having a good relationship with their superiors.
Global cultural differences also play a role, as people in certain countries tend to have different motivations for leaving a job. Some focus on the job itself and better compensation, a better skill fit and opportunities for advancement. Others look to leave their job for more opportunities for personal improvement and growth, to find more challenging work and access to greater learning opportunities. Additionally some find life outside of work important, and leave to improve their work/life balance.
All this information is valuable for employers, providing several takeaways for hiring practices. For instance, candidates not actively seeking a new job are not necessarily unwilling to change. Read your candidates well, discover their motivations and emphasize what you offer that’s important to them. Lastly, if employers who want to hold onto their workers shouldn’t neglect their employees – make sure to keep them satisfied so they don’t find reasons to leave!