The workforce is feeling the squeeze of inflation, and it is making individuals extra involved with their salaries. The truth is, in a current survey of over 4,000 professionals, as many as 80% stated inflation is impacting their profession selections. These selections included whether or not they need to search for a brand new job with the next wage or attempt to negotiate with their employer for the next wage.
SEE: As residing prices proceed to rise, extra workers name for hybrid work
One-third of respondents that FlexJobs surveyed stated inflation is a large think about making their profession selections, whereas 46% stated it’s both an element or a small issue. Solely 17% of respondents stated that inflation was not affecting their profession selections.
Regardless of the will to barter a wage and discover a new job, the respondents’ confidence of their potential to take action is pretty low. Solely 10% of respondents stated they had been extraordinarily assured of their potential to barter wage and advantages with nearly all of respondents saying they had been solely considerably assured.
Comparable outcomes had been discovered when asking respondents how assured they had been of their potential to discover a new job, with solely 12% saying they had been extraordinarily assured and 45% saying they had been solely considerably assured.
Inflation has prompted many corporations to freeze hiring, lay off workers and rescind provides. Since April 2022, 25% of respondents have been laid off or recognized somebody who has, and 18% of survey respondents have had a job provide rescinded or know somebody who has had one rescinded.
The tech job market has felt these results with large tech corporations akin to Google and Microsoft slowing down hiring.
SEE: As hiring freezes and layoffs hit, is the bubble about to burst for tech employees?
Due to these issues, persons are taking longer than typical with their job search. 43% of respondents stated it has taken them extra time to discover a job prior to now 12 months in comparison with job searches they’ve achieved prior to now.
