With the New Year just under way, many U.S. workers are already resolving to find a new employer, according to a CareerBuilder survey. Twenty-one percent of full-time employees plan to change jobs in 2014, the largest amount in the post-recession era and up from 17 percent in 2013.
The national survey was conducted online by Harris Interactive5⁄8 from Nov. 6 to Dec. 2, 2013, and included a representative sample of 3,008 full-time, private sector employees across industries and company sizes.
A drop in job satisfaction may account for the expected rise in turnover. Fifty-nine percent of workers are satisfied with their jobs, down from 66 percent in 2013; 18 percent are dissatisfied, up from 15 percent last year. Those who are dissatisfied cite concerns over salary (66 percent) and not feeling valued (65 percent) most often as reasons for their dissatisfaction.
"Offering frequent recognition, merit bonuses, training programs and clearly defined career paths are important ways to show workers what they mean to the company," said Rosemary Haefner, vice president of human resources for CareerBuilder. "In general, however, when more workers change jobs it's usually a sign the labor market is warming up. During the recession and in its aftermath fewer people voluntarily left jobs because the chances of finding a new or better one were low compared to a healthier economic cycle."
Who is most likely to change jobs in 2014? Certain factors appear to make workers significantly more likely to change jobs than others:
• Workers who are dissatisfied with their job: 58 percent plan to change jobs in the New Year
• Workers who are dissatisfied with advancement opportunities at current company: 45 percent
• Workers who are dissatisfied with their work/life balance: 39 percent
• Workers who feel underemployed: 39 percent
• Workers who are highly stressed: 39 percent
• Workers who have a poor opinion of their boss's performance: 37 percent
• Workers who feel they were overlooked for a promotion: 36 percent
• Workers who have been with their company two years or less: 35 percent (compared to 13 percent of workers who've been with company for 5 or more years.)
• Worker who didn't receive a pay increase in 2013: 28 percent
For the 8 in 10 (79 percent) workers who have no intention of leaving their current job in 2014, a variety of factors weigh into their decision, with relationships with co-workers, work/life balance and benefits topping the list:
"I like the people I work with." - 54 percent
"I have a good work/life balance." - 50 percent
"I have good benefits." - 49 percent
"I make a good salary." - 43 percent
"There still is a lot of uncertainty in the job market." - 35 percent
"I have a quick commute." - 35 percent
"I have a good boss who watches out for me." - 32 percent
"I feel valued and my accomplishments are recognized." - 29 percent