Despite economic uncertainty and high inflation, a recent survey by business consultancy Robert Half found that as many as Half of Canadians plan to change jobs in the coming year.
According to Robert Half’s semiannual Job Optimism Survey, 50 percent of the 1,100 professionals surveyed said they were currently looking for a new job or planned to look for a new one in 2023.This is a 31% increase compared to six months ago.
When it comes to who is most likely to change jobs, the survey revealed that more than half of Gen Z and Millennial employees plan to find another job. The industry most likely to be impacted is technology, with 57% of professionals saying they would be concerned, according to the research.
According to Robert Half, 61% of employees who have worked at the same company for two to four years and 55% of working parents say they plan to change jobs in the next year.
“Despite news of layoffs and slowing hiring, many Canadian workers continue to have confidence in the job market,” David King, senior managing director at Robert Half, said in a news conference Wednesday.
The main and biggest reason Canadians look for new jobs is money, suggesting that economic uncertainty and inflation are exactly why workers are looking elsewhere
According to the survey, 62% of the respondents said they would like to change jobs to get a higher salary, while 39% of the respondents said they would like to get better benefits and allowances in their new jobs.
Better promotions and opportunities are the reason for leaving their current job for 30% and 27% want more flexibility in deciding when and where they work.
The biggest reasons job seekers lose interest in a position are unclear or unreasonable job responsibilities (55 percent), poor communication from the hiring manager (46 percent), and misalignment with company culture or values (35 percent).
“While we don’t know what the future holds as the labor market continues to evolve, prioritizing employee wellbeing, engagement and recognition will always be critical to attracting and retaining valuable talent,” King added.
Interest in contracting work has increased, with 29% of surviving professionals considering quitting their jobs to pursue full-time contracting, according to the survey. One in 10 professionals said they would return to their previous employer if the offer was equal to or higher than their current income.
Robert Half said it surveyed more than 1,100 employees aged 18 or older at finance, technology, marketing and creative, legal, administrative and customer support, human resources and other firms. Respondents were surveyed online between October 17 and November 7.
Reporting on this story was paid for through the Meta-funded Afghanistan Resident Correspondents Program.