Workers Choose Stability, Fewer Job Changes Expected in First Half of 2024

A recent study by Robert Half Inc. shows a decline in job-seeking intentions. According to the report, only 36% of US workers plan to switch jobs in the next six months, down from 49% in July 2023.

Despite the persistent talent shortages, there has been a notable decline in labor force attrition, and fewer employees are contemplating changing jobs in the first half of 2024, as per a report released on Feb. 6 by Robert Half, a prominent talent solutions and business consulting firm.

The survey indicates that approximately 36% of the workforce plans to explore new job opportunities in the upcoming six months, showing a decrease from 49% in July 2023 and 41% throughout 2022.

Dawn Fay, the operational president of Robert Half, commented on this trend, stating, “The churn in the labor market of the past few years has normalized. We’re now seeing workers pause and take stock of their careers, as well as employers taking a more strategic approach to hiring.”

What Possible Factors Contribute to this Labor Attrition?

In comparison to the significant shifts observed during the Great Resignation, employees are more inclined to remain in their current roles this year, as per the report.

In a survey involving more than 1,275 workers, respondents cited various reasons for staying in their current positions. These include the level of flexibility offered by their current job, a sense of fulfillment in their roles, and feeling adequately compensated for their work.

Worker’s Major Motivators

While some workers express intentions to change jobs, many emphasize that they won’t make a move unless certain criteria are met. When inquiring about potential reasons for seeking a new position, employees indicated:

• A more competitive salary (55%)
• Enhanced benefits and perks (36%)
• Increased remote flexibility compared to my current company (32%)

Professionals Most Likely to Make a Move

The likelihood of job changes varies by industry, some of the professions that are most likely to switch jobs are:

• Marketing and creative professionals (55%)
• Workers in technology (45%)
• Legal (40%)
• Human resources (31%)
• Accounting and finance (27%)
• Administrative and customer support (27%)

Fay emphasized, “While employers may have more leverage in today’s job market, they still face hiring challenges. Professionals who possess the desired skills to help boost company productivity, alleviate workloads, and complete mission-critical projects are still in high demand. Hiring managers should have a thoughtful plan in place so they are ready to compete for talent.”

Towards the end of 2023, a Yoh report revealed that 1 in 7 workers expressed their intention to seek new employment in the next 12 months. The primary reasons cited were a desire for a higher salary or better benefits.

About Robert Half

Robert Half is a global human resource consulting firm founded in 1948, with headquarters in Menlo Park, California. Specializing in staffing and workforce solutions, the company offers services in areas such as accounting, finance, technology, legal, and administrative support. Operating internationally, Robert Half is known for its divisions like Accountemps and Robert Half Technology, providing temporary staffing, permanent placement, and consulting services to match qualified professionals with client companies’ needs.