'The Big Stay': Can employers expect a decline in departures this year?

Employees in the United States believe that this year will see the so-called "The Big Stay," as they expect a decline in remote job openings and longer recruitment processes.

A survey by MyPerfectResume among 1,867 employees in the US found that 80% are predicting "The Big Stay" to sweep over the American workplaces this year.

This comes as 45% also forecast a drop in the number of remote openings, while 61% expect a longer hiring process in 2024 than a year ago.

The so-called "Big Stay" refers to an emerging trend in workplaces across the world where employees decide to settle down and stay at their current job for a longer time.

It follows the "The Great Resignation" phenomenon, which saw workplaces suffering from high attrition rates following a mass exodus of employees.

Commenting on the findings, Kellie Hanna, career expert at MyPerfectResume, likened workplaces to a living organism that responds to societal, technological, and cultural shifts.

Among these changes include the rising legislation mandating the inclusion of salary information in their job postings, which 71% of employees said they will see more of in the future.

Another 72% said AI will soon support their HR teams in recruitment processes in 2024 as the technology continue to penetrate workplaces.

"We hope that our findings shed light on the 2024 workplace, guiding employers, workers, and job seekers to find a path blending mutual expectations," Hanna said in a statement.

Workplace changes

Meanwhile, 87% also believe that their organisations will prioritise their workforce's mental health and wellbeing more, with 84% believing that higher investment on related programmes will be delivered.

Majority of the respondents also predicted that their employers would put more focus on the following:

• Corporate social responsibility initiatives (88%)
• Environmentally responsible practices (81%)
• Diversity and inclusion efforts (79%)
• Ethical and sustainable practices (79%)

Upskilling predictions

Seven in 10 employees also believe that reskilling will be necessary for many professions, according to the report.

This comes in the wake of rapidly developing AI tools, which are threatening jobs and prompting stronger the workforce to upskill.

For 69% of the respondents, they said employers should be encouraging their staff to pursue further training and development, with 72% wanting their companies to embrace mentorship and coaching programmes.

The World Economic Forum previously reported that upskilling will be the "key in the coming years to ensure an equitable future of work," especially in the wake of various trends that are expected to shake up the world of work.