Labor Market 2024: Increasing Job Mobility Among Workers

High workloads, low salaries, and better offers are driving more people to seek new job opportunities. According to The Stepstone Group's latest study, 73 percent of individuals now consider changing jobs at least once a month, compared to 64 percent in 2023 and 53 percent in 2021. The survey, which included 3,700 respondents, indicates that the primary reasons for this trend are higher salary expectations (35 percent), job dissatisfaction (34 percent), excessive stress (33 percent), and more attractive offers from other employers (26 percent).

Dr. Tobias Zimmermann of The Stepstone Group notes that job changes are becoming a routine aspect of professional life due to a shortage of workers in the market. Job seekers are demanding quicker application processes, shorter than the current average of 15 weeks, and express frustration over lengthy hiring procedures and lack of employer feedback.

Salary, vacation, and job security are the top priorities for those seeking employment, followed by the desire for meaningful work and engaging job content. The recent period of crises and inflation has heightened the importance of these factors. Despite economic constraints, companies are advised to leverage AI to streamline recruitment and focus on highlighting the meaningfulness of the work they offer.