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👷‍♂️ Many Workers Planning to Change Jobs While Demand for Skilled Talent Continues 👩‍🏭

Thursday, 15 February 2024 08:00.AM

- Salary remains the driving force behind job search plans.
- Flexibility and fulfilment top the list of reasons some are staying put. -

Despite an uncertain economy leading to less turnover in the labour market recently, the demand for skilled talent remains high, which is good news for the Canadian professionals looking for new opportunities. According to new research from talent solutions and business consulting firm Robert Half, 42 per cent of workers have already started looking or plan to look for a new job in the first half of 2024, up slightly from 41 per cent in July 2023, but down from 50 per cent in December 2022.

Professionals Most Likely to Make a Move

Workers / February 2024 / July 2023
Gen Z - 67 % - 64 %
Marketing and creative - 67 % - 51 %
Millennials - 57 % - 49 %
HR - 72 % - 42 %

Workers' Main Motivators

With inflation and cost of living top of many people's minds, it's no surprise that salary is the largest motivating factor. When asked what would lead them to look for a new position, workers cited:

• A higher salary (47%)
• More advancement opportunities (32%)
• Better perks and benefits (31%)
• A job with more flexibility (32%)

"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."

What's Making People Stay?

Though slightly more professionals are seeking new roles compared to 6 months ago, the number is down from where it was a year ago. Some of the reasons behind this are:

1. Their current job offers a level of flexibility that they aren't willing to lose (38%)
2. They feel fulfilled in their current role (36%)
3. They feel well compensated for their work (30%)

"The constant labour market turnover we were seeing in the pandemic has somewhat slowed down," King added. "Many workers are settled into jobs they negotiated better pay, perks, and benefits for in the past few years, and they aren't willing to make a move unless the right opportunity presents itself. For employers, this means that recruitment challenges are likely here to stay at least for the foreseeable future."

Demand is High for Skilled Workers

Our research shows that 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. Most managers (64 per cent) say it takes longer to hire now than a year ago, and they risk losing skilled people to competitors if they don't speed things up.

SOURCE: Robert Half Canada Inc.

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