Employees Are Considering Leaving in 2024 as Research from LinkedIn and Microsoft Shows a Growing Desire to Quit Jobs Surpassing the Great Resignation Trends

The cost of living has increased, potential layoffs from AI and overhiring are looming, and flexible working arrangements are highly sought after. Despite the predictions of a “Great Stay” in 2024, data from LinkedIn and Microsoft suggests that the number of people wanting to quit their jobs is actually higher than in 2021. Employers are facing a tough time as 85% of U.S. professionals are considering a job change this year.

Workers are feeling burned out, undervalued, and are lacking learning opportunities, according to research from LinkedIn and Microsoft. A high percentage of employees feel stuck in their current jobs and are experiencing burnout. Employers need to focus on offering learning opportunities as a top retention strategy, especially with the increasing importance of AI skills in the workplace. Workers want to learn how to use AI to help with their career progression.

History shows that periods of low attraction are often followed by high attrition. Those who switched jobs during The Great Resignation are now reporting lower satisfaction at work compared to those who stayed. Money cannot fix everything, as studies have shown that many who were lured by higher pay during the pandemic are now regretting their decision to leave their jobs. Work-life balance, job satisfaction, and company culture are important factors that cannot be replaced by a higher salary.

Employers are realizing the importance of keeping their workers happy and engaged, as concerns about employee retention are rising globally. Half of hiring managers in Europe predict an increase in employee turnover in 2024, which means that keeping employees satisfied may become a top priority for managers. Learning opportunities, work-life balance, and job satisfaction will be key factors in retaining employees and preventing high turnover rates.

The shift towards remote work and flexibility in the workplace has made employees value these benefits even more, especially with the uncertainties brought about by AI and new technologies. Employers need to adapt to the changing needs and expectations of their workforce in order to attract and retain top talent. Companies with strong learning cultures are seeing higher retention rates and better internal mobility, indicating that investing in employee development is crucial for long-term success.

While the job market may seem tempting for those looking to make a change, workers should carefully consider all aspects of a potential job offer before making a decision. The grass is not always greener on the other side, and factors such as work-life balance, job satisfaction, and company culture should be weighed against monetary compensation. Employers and employees alike need to prioritize well-being, growth opportunities, and a positive work environment in order to navigate the challenges of the evolving labor market successfully.