Who wants to leave their job and why?
With 26% of workers from Prudential’s survey planning to leave their current workplace after the pandemic, an overwhelming amount of them (80%) are doing so to advance their careers.
And nearly the same number — 72% — say the pandemic has forced them to rethink their skill sets, with more than half of that number reporting they plan to leave their current employer having participated in training for new skills during the pandemic.
Most of the workers who are preparing to hand in their notice say they’re looking for a new job with more flexibility, like hybrid workplaces where employees can split their time working from home and the office as well as work outside of the regular business hours.
Even for those who aren’t planning a change, more than half say they will look elsewhere if their current company won’t continue to offer remote work options after the pandemic ends.
What can employers do?
Prudential Financial vice chair Rob Falzon, whose company commissioned the survey, says the looming “talent war” will be won by employers who cultivate cultures that offer what’s most important to workers.
Despite the challenges of isolation and increased hours while working from home, 68% of workers describe it as the “ideal” workplace model.
In addition to remote work options and flexible work arrangements, the survey shows workers are hungry for advancement and comprehensive benefits.
“Leaders must be focused on cultivating thriving cultures of internal mobility, prioritizing continuous learning, and delivering robust benefits to support their workers,” advises Falzon.
Employers will need to highlight these attributes in their job postings to adapt to the changing needs of prospective employees.
What does this mean for those looking for work?
If you have a skill set that’s in demand, but you need a flexible work environment, the pandemic has opened up a world of opportunities for you.
It’s never been easier to find a flexible role that pays well and lets you work around your schedule.
With so many workers planning to leave their roles once the pandemic ends, you may soon find even more job opportunities opening up and employers eager to find new talent.
The ZipRecruiter data shows the number of open positions across all online listings has gone up to about 5 million compared to the number at the start of the pandemic.
Based on trends in job postings on ZipRecruiter, here are 7 of the most in-demand roles right now:
- Food delivery
- Computer software
- Health care
- Financial adviser
How to supplement your income now
If you’re one of the 26% biding your time to start your job search for a better-paying gig, you have some options to bring in more cash now.
Slash your insurance payments. If you haven’t shopped around for a better rate on your car insurance, what are you waiting for? You may be overpaying by up to $1,100 a year. Compare rates now and cut your monthly payments by hundreds. And while you’re shopping around for the best rates, find a better deal on home insurance just by comparing quotes now to save hundreds tomorrow.
Refinance your mortgage (if you have one) and save hundreds a month. If you haven’t looked into a mortgage refi in the last year, now’s the time to do it. Right now, there are 13 million American households who could save themselves an average of $283 a month by refinancing their mortgage, according to Black Knight, a mortgage technology and data provider.
Cut the cost of your debt. Are credit card payments eating up a huge chunk of your monthly income? Consolidate your debt into a single, lower interest loan to help ease the pressure and pay down what you owe sooner.
Stretch your dollars. You don’t have to bring in more money to make your budget go further. Sign up for an investing app that can turn your pennies into profits by simply investing your “spare change”. Or download a free browser extension that will scour the internet for better deals or coupons every time you shop online.
Here's how to save up to $700/year off your car insurance in minutes
When was the last time you compared car insurance rates? Chances are you’re seriously overpaying with your current policy.
It’s true. You could be paying way less for the same coverage. All you need to do is look for it.
And if you look through an online marketplace called SmartFinancial you could be getting rates as low as $22 a month — and saving yourself more than $700 a year.
It takes one minute to get quotes from multiple insurers, so you can see all the best rates side-by-side.
So if you haven’t checked car insurance rates in a while, see how much you can save with a new policy.