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Actions What’s on the Minds of Job Switchers?
Key Takeaways
- Prudential’s research sheds light on how job seekers evaluate new employment opportunities.
- Employee benefits are seen as more important in the wake of COVID-19.
- Insights from this research can help employers better position themselves to attract and retain talent.
As the economy begins to recover from the impact of the COVID-19 pandemic, employers may find themselves competing for workers who have a new vision of what they want from the employer-employee relationship. Some workers may want to retain the work flexibility they’ve experienced, while those who have seen their income disrupted by the pandemic may have a new focus on the financial rewards of work. Prudential recently surveyed nearly 1,000 full-time workers who voluntarily switched jobs over the past two years. The survey reveals some trends—such as the need to have flexibility and the focus on finances—that will likely increase in importance after the pandemic has been contained.
Among the key findings:
- More than eight in 10 job switchers say they are extremely or somewhat satisfied with their job change.
- Job switchers can be classified into two distinct personas—financially driven and lifestyle driven—based on their motivation for changing jobs.
- Financial Switchers are more likely to have broad success with their job changes, while outcomes for Lifestyle Switchers are more mixed.
- Even though most job switchers are satisfied with their outcomes, some have advice for other job seekers.
As employers review their staffing needs, they can use the findings from Prudential’s latest research to better understand what job seekers value and how they approach job searches. This can help employers both retain existing employees as well as help with attracting new talent.
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