The “Great Resignation” may have been just a warm-up.
New data from Microsoft and LinkedIn shows that nearly half of professionals—about 46%—say they are considering leaving their job in the next year. This is notably higher than the 40% who admitted to the same ambitions in 2021, and may come as a surprise to many employers who thought this corporate wanderlust had ended a few months ago.
The survey of 31,000 people in 31 countries should alert employers that even despite economic instability and persistent inflation, workers still consider themselves fully responsible for their own destiny.
The reasons for wanderlust vary. Some are finding themselves regretting or tired of the jobs they took during the pandemic, with workers at one point clinging to whatever source of income they could find as companies carried out mass layoffs. Others say they are approaching burnout. Microsoft research found that 68% of people say they find it difficult to cope with the pace and volume of work, and 46% said they already feel exhausted.
Artificial intelligence also plays a role: 45% of respondents fear that AI could replace their jobs.
Meanwhile, LinkedIn research found a 14% increase in job applications for the same role since last fall, with 85% of professionals considering a new job this year.
While many tech companies have seen massive layoffs in the past year, most workers aren’t too worried about it. LinkedIn’s Labor Confidence Index, released earlier this year, was near a four-year high. About 55% of those surveyed said they felt confident in their ability to get or keep a job at the time, up from 36% in January 2021.
Of course, just because people are thinking about changing jobs doesn’t mean they will or should. A Conference Board Study found that people who changed jobs in 2022 are now less satisfied with their jobs than people who decided to stay put.