Why in the US are people earning more than $ 100 thousands more often quitting jobs
67% of employees who earn more than $ 100 thousand per year plan to quit in the coming 6 months, according to a Ladders survey. Edition CNBC explained why such a trend arose.
This trend is observed among workers of all ages and different levels of wealth, including those whose salaries consist of six figures. Americans leave high-paying positions since the 2001 year. More than 3 million employees voluntarily leave their jobs monthly.
“The gold rush of 2019 of the year has begun. The labor market turned out to be very strong professionals who are looking for a better future, ”said Ladders CEO Mark Zenedella.
Experts, Brian Kropp, vice president of research firm Gartner, and Andrew Chamberlain, chief economist at Glassdoor, believe that the reason for this trend is that it’s more profitable for people to quit to get a salary increase when they switch to a new company than to wait for pay increases. from your current employer. The labor market currently has 7 million vacancies, but cannot provide a significant increase in wages.
According to Kropp, an employee receives about 15% compensation (due to a higher salary at a new place) when changing an old job to a new one.
“You will never receive a salary increase of 15% if you continue to work at your current job. It just won't happen, ”Kropp said.
Getting a promotion was one of the ways that an employee could increase his income, but after the financial crisis, companies began to more carefully provide such opportunities.
“One of the things that happened because of the financial crisis is that organizations have removed almost all layers of middle management, which made promotion difficult. There are fewer career opportunities, ”Kropp says.
The lack of such mobility may be one of the reasons why employees holding high positions and having many years of experience are ready to leave their positions.
According to Chamberlain, the trend indicates that workers feel confident in the labor market and can afford to leave current positions to find the best job for themselves.
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