Will you stay or will you go now?
Economists have been talking about the Big Stay for months now. This is basically the opposite of the Great Resignation: the theory is that more people are staying in their jobs instead of job hopping because they don't feel like moving around again.
But is this the full story?
The above LinkedIn poll that I ran at the end of last year makes me think the Big Stay is less about people wanting to stay in their current roles and more about a slowing job market in certain industries and roles.
With 2000+ people voting, only 14% stated that they were happy with their current role. 20% were open to possibilities and 66% of respondents stated that they were actively looking for roles.
I know that this poll isn't completely scientific - but I think it's fair to say that a lot of people are not completely with their jobs right now.
Korn Ferry called this "job hugging" in their newsletter this week, specifically discussing a trend of executives staying put:
"Recruiters are seeing these dynamics play out among executives, as high-level employees stay put unless they’re overwhelmed by the compensation benefits of an external option. This makes recruiting challenging. 'Right now, top performers are only leaving if they’re miserable in their roles,' says sales and marketing expert Stacy DeCesaro, managing consultant at Korn Ferry."
They're not necessarily staying because they're excited about their roles, but they know what to expect in their current situation and that certainty is encouraging folks to stay put. Additional surveys by Eagle Hill Consulting bear this out: people aren't necessarily happy in their current roles, but making a move can feel risky, so if their job is "good enough," they're going to stick around.
All of this to say: if you aren't completely happy in your current situation, you aren't alone. In this case, a good strategy is to focus on a "passive job search" - building a strong LinkedIn profile that allows recruiters to find you.
Question of the week
I was going to post on LinkedIn today that I have been looking for a job and attach my resume. Do you think that this strategy makes sense? Do people actually find jobs when they post about looking for work?
I've seen the same posts that you have seen - job seekers post a copy of their resume on LinkedIn and cross their fingers that the right person sees it and offers them a job.
For me, I don't think this is the best strategy. I've rarely heard of this working and I just don't know that this is the best use of your time.
Instead of creating a LinkedIn post discussing your job search, you can do focused outreach to connect with people in your network. Set-up a few in-person or virtual coffee talks to catch up with previous colleagues. Send a quick message letting folks know your situation. Most people want to help: you just need to let them know what you need.
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Take care of yourself and have a wonderful weekend!
Colleen
