Survey: 65% of Workers Considering New Job
NEW YORK – Economic growth coupled with increasing employment options have led 65 percent of U.S. workers recently to consider launching some sort of job search, according to a survey released on Monday by salary consulting firm Salary.com.
The survey of 14,000 workers and almost 400 human resources managers also revealed that bosses haven't caught up with the changing mind-set of employees who are enjoying more options.
"The economy getting better has opened a door of opportunity to consideration," Bill Coleman, Salary.com's vice president for compensation, told Reuters.
"I'm not saying that everybody is going to jump ship, but they are thinking," Coleman said. "It doesn't prove intent but it does demonstrate a disposition to look."
Employers still think workers will quit only if disgusted by poor management, and don't grasp the extent to which employees are contemplating the increased salary, opportunities for advancement, recognition and excitement that might await them in a new job.
Most workers planning a job search cite inadequate pay as the reason, according to the survey, conducted online last October and November.
"It is a challenge finding more people to staff," Richard Slack, president and CEO of Bolo Systems, told Reuters. A Denver-based back-office firm, Bolo participated in the Salary.com survey and is trying to become a more attractive employer despite the tightening job market.
The company is about to hire its first human resources director, is offering a new 401(k) plan and is considering the expansion of other benefits, Slack said.
"It is probably feasible to make an employee happy and stay at a much lower cost than it would take to replace that person," Coleman said.
A 10 percent raise would compensate for dissatisfaction with working conditions, corporate mission, discrimination, lack of advancement and impact on health, the survey said. A 12 percent raise would make up for inadequate benefits.