COMP NEWS – A new joint study by Microsoft and LinkedIn indicates that nearly half of workers want to quit their job in the next year, a figure even higher than surveyed during 2021’s Great Resignation period.
The cost of living has spiraled, the threat of layoffs (thanks to AI and overhiring) looms, and flexible working arrangements won before bosses started issuing return-to-office mandates are now like gold dust.
That’s why, after three years of workers quitting their jobs at a record pace—about 47 million Americans left their jobs in 2021 alone—experts have reassured employers that 2024 will be the year of the “Great Stay”.
Even the professor who coined the term “Great Resignation” predicted that it would fizzle out by New Year’s Eve 2023.
However, new data from LinkedIn and Microsoft shows that they might have been overly optimistic. The two tech giants surveyed 31,000 individuals across 31 countries and found that the percentage of people (46%) who want to quit their jobs in the year ahead is actually higher than in 2021 (40%).
Adding to the alarm, American employers are in for a rough ride: Around 85% of professionals in the U.S. are eyeing up a new job this year. Meanwhile, LinkedIn has already witnessed a 14% surge in job applications per role since the fall.
The study seemed to identify three reasons for workers’ desire to quit: burnout, lack of learning opportunities, and artificial intelligence.
LinkedIn and Microsoft told Fortune that three reasons behind the sudden uptick in workers eyeing up the exit were burnout, a lack of learning opportunities, and artificial intelligence.
LinkedIn’s Workforce Confidence Index found that 59% of U.S. employees who are actively job-seeking agree that they feel stuck in their job (vs. 35% of those who are not job-seeking) and 51% feel burnt out from their job (vs 37%).
Likewise, Microsoft’s Work Trend Index echoed that 68% of people globally struggle with the pace and volume of work and 46% feel burned out.
To read more about Microsoft and LinkedIn’s study, click here.
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