Workers are considering leaving their jobs at a higher rate this year compared to last year. According to research from Mercer, 36% of employees are thinking about leaving their employer. That’s up from 28% last year. (Note that the data were collected in August and September.)
The survey found that employees’ needs are changing after two years of turmoil. The top 3 factors that causing employees to consider leaving are:
- Insufficient pay
- Burnout due to a demanding workload
- Insufficient healthcare benefits
Financial concerns are at the forefront for employees. With 8.2% year-over-year inflation, according to recent BLS data, all wage gains and then some have been taken up by rising costs. Not surprisingly, covering monthly expenses (11.1%) is now the top concern for employees, up from #9 (6.8%) in 2021. The findings also show marked declines in employee commitment and satisfaction since last year.
Low-income employees, defined as those earning $60k or less per year, minority employees, and frontline employees were more likely than other groups to consider leaving their employer.