US: workers check job prospects amid economic worries

By Gina Keating

U.S. workers are weighing their employment options more actively than employers think, amid economic worries and a weak job market, according to a survey released on Wednesday by Salary.com.

Nearly half of workers reported conducting job-search activities within the past year, according to the survey. The reason most often cited for leaving a job was inadequate compensation but pay figured as less of a motivator for staying put, the survey showed.

Employers underestimated what percent of their work forces were interested in leaving their posts, but they also underestimated what pay hike would lure employees away. Most employers believed their workers would leave for an 8- to 15-percent premium over current benefits, while most workers said they needed a raise of at least 16 percent to entice them from their current jobs, the third annual survey showed.

Despite reporting a 40-percent rise this year in the cost of replacing employees, employers offered an average 7 percent uptick in benefits to keep a valued employee, the survey said. The survey showed 42 percent of workers reported updating their resumes, 46 percent surfed online job postings and 32 percent read classified employment listings in the past year.

During the same period, a third said they had networked with friends and colleagues, and 27 percent posted or e-mailed their resumes to prospects. In addition to inadequate compensation, listed by 36 percent of workers as the top reason for leaving a job, 30 percent cited a lack of career advancement, 22 percent named insufficient recognition and 11 percent said boredom or inadequate professional development opportunities would be motivators.

Top reasons workers gave for staying in a job were: relationships with co-workers (31 percent); attractive compensation (23 percent); relationship with manager (22 percent); attractive benefits (18 percent) and desirable working hours (17 percent).

Non-compensation perks that could persuade workers to stay at their jobs included non-compensation professional development, ability to work from home, additional vacation and flexible work schedules. However, half of survey respondents gave no reason for staying in their current jobs.

Salary.com used responses from 7,101 individuals and 245 human resources or other company representatives for its survey. (Reuters)

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1 Response to “US: workers check job prospects amid economic worries”


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