The so-called “great resignation” has become the “great stay.” But experts say workers aren’t just staying — they’re “job hugging.”
Job hugging is the act of holding onto a job “for dear life,” consultants at Korn Ferry, an organizational consulting firm, wrote this week.
Such clinging is a stark contrast from the historic rate of job hopping that workers exhibited in 2021 and 2022, but makes sense given current labor market trends.
“There is this stagnation in the labor market, where the hires, quits and layoff rates are low,” said Laura Ullrich, the director of economic research in North America at the Indeed Hiring Lab. “There’s just not a lot of movement at all.”
The rate at which workers are voluntarily leaving their jobs has lingered near lows unseen since around 2016, outside of the initial days of the Covid-19 pandemic.
