The Great Resignation is behind us. Job seekers are more calculated. So, if you’re trying to hire or keep great people, you need to understand what’s actually driving their decisions.
Quitting for a Raise? Not So Fast.
The financial edge of job hopping is fading. New data shows job switchers only get a 0.2% higher pay bump than those who stay put. That’s the smallest gap in over a decade.
So, why are people still leaving? It’s less about money and more about meaning.
- Will this job give me more control over my time?
- Does this company reflect my values?
- Will I grow here?
People Want Progress—Not Just Promotions
Research shows four key reasons people leave:
- Escape from burnout or misalignment
- Control over their time and schedule
- Alignment with their skills and values
- Advancement in their career path
If you don’t know which one matters to your team, or your candidate, you’re flying blind.
Retention Is a Strategy, Not a Perk
When raises are flat and people are cautious, keeping your best people becomes your biggest advantage. What helps?
- Clear growth paths (not just promotions)
- Career conversations before the exit interview
- Competitive, transparent pay—even if raises are small
- Listening for what progress looks like to them
Burnout Is Quiet, but It’s Loud in the Long Run
Even in a slower market, quiet quitting and burnout are big issues. Some employees may stick it out longer, but they’re disengaged. And that quiet disengagement? It spreads fast.
Fix the root cause before they leave. Or worse, drag the whole team down.
Hiring?
Cautious candidates are looking closely at their next move. If you want top talent:
- Move fast, but with purpose
- Go beyond the job description
- Be upfront about comp and flexible where you can
- Customize roles based on what that person needs and how that can match the business need
- Let your culture shine and demonstrate how you support growth and development