According to a survey by Grant Thornton, two of every five workers who switched jobs over the past year are still looking for work.
As the Great Resignation continues, these workers will likely account for a good deal of turnover in the labor market, suggesting employers may need to rethink pay, benefits and other workplace issues.
Tim Glowa, who leads Grant Thornton's employee listening and human capital services team, said that the power is going to the employee.
According to the firm's most recent State of Work in America survey, twenty-one percent of American workers took a new job in the past year.
40% of the recent job-switchers are already looking for another job.
The 29% of full-time employees who are actively looking for a new job is higher than the overall population of American workers.
Workers and businesses are likely to share responsibility for buyer's remorse.
It could be due to a misalignment in job expectations versus reality, or it could be due to a bad manager or lack of career advancement possibilities. He likened the dynamic to buying a car and realizing it is a lemon.
Workers are benefiting from a hot labor market in which job openings are near record highs and pay has increased at its fastest clip in years, as businesses are forced to compete for talent.
They have made the switch and it is easy for active job seekers.
Almost 48 million people left their jobs voluntarily in the year 2011. The demand for labor has rebounded faster than the supply as the economy has emerged from its winter slumber, which has helped create favorable conditions for workers.
According to the survey, almost 60 percent of those who recently took new jobs had two or more competing offers.
The war for talent is going on.
He said that some workers may have jumped at a big raise before weighing the pros and cons of the offer.
According to Grant Thornton, 40% of the workers who switched jobs in the last year got a pay increase of at least 10%. That is more than double the number of people who responded to the survey.
Pay, advancement opportunities and benefits other than health and retirement were the top three reasons employees switched jobs last year. Pay and benefits were the two biggest reasons people turned down other offers.
A survey of human-resources managers by Grant Thornton shows that companies are out of touch with the sources of employee stress, which may make it difficult for them to offer attractive benefits.
Personal debt, medical issues, mental health, daily inconveniences, and the ability to retire are the top five drivers of stress for employees. Human resources leaders guessed one of the top stress-related issues.
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