'Job seekers with desired skills are still in high demand and are looking for better pay, advancement, perks and benefits'
Forty-two per cent of workers have already started looking or plan to look for a new job in the first half of 2024.
This number is up slightly from 41 per cent in July 2023, but down from 50 per cent in December 2022, according to new research from Robert Half.
Notably, three-quarters (72 per cent) of HR workers surveyed said they were likely to change employers, which is up from 42 per cent in July 2023.
Similarly, 67 per cent of both gen Z professionals and marketing and creative professionals were among those most likely to make a move.
"While some businesses are being more cautious about bringing on new employees, many of the employers looking to hire are facing consistent challenges," said David King, senior managing director, Robert Half, Canada and South America.
"Job seekers with desired skills are still in high demand and are looking for better pay, advancement, perks and benefits. Employers need to be ready to attract skilled talent with competitive offerings."
Motivations to stay or leave
According to the survey, salary is the largest motivating factor for professionals searching for a new employer, with 47 per cent saying a higher salary would lead them to look for a new position.
Other motivating factors include:
- More advancement opportunities (32%)
- Better perks and benefits (31%)
- A job with more flexibility (32%)
However, while slightly more professionals are seeking new roles compared to six months ago, this number is down from where it was a year ago. Some of the reasons behind this are:
- Their current job offers the level of flexibility that they aren’t willing to lose (38%)
- They feel fulfilled in their current role (36%)
- They feel well compensated for their work (30%)
Demand is high for skilled workers
Over half (54 per cent) of hiring managers are actively seeking talent for new roles, mostly to support company growth, and organizations are primed to move ahead with strategic initiatives. However, competition for professionals with in-demand skills remains high.
These findings are in line with Robert Half’s December State of Hiring Survey, which found that 54 per cent of hiring managers plan to add new permanent positions in the first six months of the year while another 40 per cent anticipate hiring for vacated positions.
The survey also reported that, in the first half of 2024, only 4 per cent of hiring managers did not plan to add new or fill vacated positions, and only one per cent were planning to eliminate positions.
"The first quarter of the year often brings with it newly approved projects and budgets,” said King. "Combined with company growth plans and ongoing skills gaps in the labour market, employers need to be strategic to attract and retain top talent, in order to meet staffing requirements and fulfill business needs."