Despite these apparently strong satisfaction scores, significant numbers of workers are re-evaluating their working life—and are, in doing so, influencing co-workers to do the same. We found that when workers see colleagues quitting, 70% consider following suit and 50% actually take action.
We call this the rise of the ‘quitfluencer’. Countries most exposed to the risk of the quitfluencer phenomenon are those with the highest numbers of workers most likely to resign. Workers are most likely to leave their jobs in Australia (33%), Switzerland (32%) and in Eastern Europe, Middle East and North Africa (31%). Globally, Gen Z are 2.5 times more likely to be influenced to quit than Baby Boomers.
Why are workers leaving their jobs? They expressed needs that are going unmet by employers, including salary; flexibility; career progression and upskilling; and mental health and wellbeing.
Interestingly, in spite of today’s glum economic situation and geopolitical unrest, workers continue to believe they have power over companies in choosing where to work. Globally, 72% are not concerned about losing their job. That’s a significant increase over the 2021 figure of 61%.
Another reason workers may not feel threatened is that many are being actively wooed; of those who say they’ll quit in the next 12 months, nearly one fifth are already being recruited by headhunters or competitors (17%). So, it’s little wonder that 61% are confident they could find a new job in six months or less.
As a whole, these results indicate that the Great Reevaluation is not over by any means. It’s crucial that companies listen to workers’ call and implement solid retention strategies to keep their talent in house and motivated.
Salary and inflation
During the Great Reevaluation and pandemic lockdowns, there was a great deal of discussion about workers reexamining their priorities and deciding that money was not, or should not be, an overriding factor in their lives.
That’s all well and good, but make no mistake: our research shows that salary is an important driver for all workers. It’s a convenient way to define success—to keep score, essentially—and was a key criterion for workers when considering taking a new job. Of those who say they will quit in the next 12 months, 45% will do so in order to get a better salary.
Naturally, salary is important in talent attraction. But salary is hardly the only factor affecting workers’ attitudes; among those who feel engaged in their jobs, its rank on a list of priorities drops all the way to sixth. Only 25% of those planning to remain in their jobs cite salary as the reason. Instead, stability, work-life balance and flexibility help retain workers.