With the New Year comes the hunt for a new job with 20 percent of the workforce, according to national survey.
“January is one of the busiest job search months of the year as workers put their New Year’s resolutions into action,” said Rosemary Haefner, vice president of Human Resources at CareerBuilder.com. “Job seekers may have more negotiating power as employers offer sweeter deals to fill productivity gaps and headcount quotas impacted by the Baby Boomers’ exit from the work force.”
Of those exploring new employment, the reasons breakdown into four categories according to CareerBuilder’s survey, “2007 Job Forecast”:
- 48 percent of workers cite better pay and/or career advancement opportunities
- 11 percent are electing to change careers
- 9 percent are retiring
- 6 percent plan to start their own business
In addition, CareerBuilder’s study found that half of employers plan to increase salaries on initial offers to new employees.
Key factors influencing employees’ decision to look for new opportunities include:
- 33 percent are dissatisfied with their pay
- 26 percent did not receive a raise in 2006 (of those that did, 1 in 5 were given an increase of 2 percent or less)
- 67 percent did not receive a bonus
- 35 percent are dissatisfied with career advancement opportunities provided by their current employers
- 85 percent did not receive a promotion in 2006
- 26 percent felt they were overlooked
- 27 percent are dissatisfied with work/life balance
- 45 percent report their workloads have increased over the last six months
- 33 percent are dissatisfied with training and on-the-job learning opportunities
For those corporations looking to lure away dissatisfied workers from other jobs, the study reported that respondents are looking at four primary criteria: Good career advancement opportunities, company stability in the market, good work culture, and flexible schedules.