Two of every five workers who switched jobs over the past year are looking for work again, according to a new survey published by Grant Thornton, a consulting firm.
These workers will likely account for a good deal of churn in the labor market as the so-called Great Resignation continues, and this suggests employers may need to reconsider pay, benefits and other workplace issues.
“The power is going to the employee right now,” said Tim Glowa, who leads Grant Thornton’s employee listening and human capital services team. “They are in the driver’s seat.”
Twenty-one percent of American workers took a new job in the past 12 months, according to the firm’s most recent State of Work in America survey published last week, which polled more than 5,000 employees.
Of those recent job-switchers, 40% are already actively looking for another job.
That’s a higher share than the 29% of all full-time employees who are actively looking — which means recent job-switchers are more likely to want a new gig than the overall population of American workers.
There’s likely some shared responsibility between workers and businesses for this “buyer’s remorse,” Glowa said.
For one, it may be due to a misalignment in job expectations versus reality — perhaps a bad manager or lack of career advancement possibilities, Glowa said. The dynamic is similar to buying a car and then realizing it’s a lemon, he added, likening it to a bait-and-switch by businesses.
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’ve made the [recent] switch, and it’s proven to be very easy,” Glowa said of active job seekers. “So they’re willing to make that switch again.”