You’ve probably heard about the Great Resignation at least a hundred times by now. If you aren’t one of the 47 million people who quit their job last year, I bet you’ve taken a second to consider it.
For many folks, thinking about leaving is chalked up to a few key variables. According to a recent Pew Research Center survey, these include low pay, lack of opportunity, and a lack of respect. But these aren’t the only reasons you may be considering jumping ship.
ZoomInfo’s TalentOS product has data that measures a person’s likelihood of talking to a recruiter. In fact, employees that we deem “Likely to Listen” are 30% more likely to be in a new role in four months. And while this is an extremely handy tool for recruiters, it’s vital information for job seekers, too.
Why? Because there may be important, data-backed reasons that you haven’t considered for leaving your current role. By analyzing variables that directly relate to an employee’s job satisfaction, we’re able to get a pretty solid read on who is open to new opportunities.
Let’s look at some of the top factors we evaluate to help you get a better sense of whether you should stay with your current position or consider starting your search.
Company Size and Type
Employees at smaller companies and startups have a higher chance of being recruited based on lower job satisfaction than employees working at larger organizations and “unicorn” companies (a privately held company with a valuation of over $1 billion).
This can largely be attributed to three things: first, employees at larger companies often have greater job security — something that’s become a priority for job seekers. During the pandemic, nearly a quarter of all US jobs were disrupted either through furlough or layoff. If you’re feeling uneasy about your role’s longevity, that may be reason enough for you to look for a new, more secure position.
Second, larger organizations often have more structure in their work roles, while employees at smaller companies frequently juggle more tasks. An individual’s day-to-day role at a smaller company may shift frequently. This is a perk for some people, but those who find it draining may benefit from finding a role with more routine.
Third, smaller companies may not pay as much as bigger organizations. Pay, benefits, and office perks can vary dramatically, sometimes contributing to people seeking greener pastures.
Employee Growth Rate
This is actually one of the biggest determiners of our Likely to Listen scoring, and for good reason. If your company isn’t growing — either in headcount or profitability — it can hamper everyone who works there. There’s less money to go around, fewer employees to take on extra work, and fewer opportunities for advancement.
It can be hard to tell from the outside if a company isn’t growing, but there are things you can look for on the inside. Have you noticed top performers consistently leaving? Do you feel like your management team lacks transparency? Do bad leaders remain at your organization regardless of complaints? These are all signs of a stagnant company and can suggest it may be time to move on.
Industry Data
News and trends across companies also help to assess employee happiness within a given role or industry. At ZoomInfo, we collect “Scoops,” which are actionable intelligence leads such as funding information or personnel changes, and track how frequently they’re mentioned. We then analyze each Scoop and determine whether it suggests a positive or negative outcome for an organization. This helps us score how likely an employee is to respond to a job opportunity.
It might not be immediately obvious why this information matters to an individual, but people often make decisions based on the entirety of their environment, not just their own job. When an organization is constantly facing controversy, for example, it’s a struggle for every employee.
High Turnover
High-turnover industries see frequent attrition for a reason. While the Great Resignation has increased overall turnover, certain industries have been hit extra hard. People working in the retail, food service, and grocery industries, to name a few, were on the front lines during the pandemic without much incentive or support. Many of these jobs require workers to be on their feet for long periods of time, and don’t offer the same type of upward mobility of other professions. Add in low pay, inconsistent work hours and inadequate benefits, and it makes them very likely to engage with a recruiter.
If you’re in a position with especially high turnover, there’s a good probability that you’re open to changing careers. Jobs in customer service and support often see high turnover rates. The demanding nature of these jobs makes it difficult for companies to retain employees, even in industries that don’t necessarily struggle to keep talent.
Open Jobs Overall
It’s simple: when the job market heats up, people want to explore their options. And right now, it’s on fire.
In the US alone, 6.4 million jobs were added in 2021 — the most jobs on record for a single year. This drastic increase in employment opportunities may cause you to take a leap.
Where Should You Go?
So we’ve given you reasons to put in your two-week notice. But where should you head next?
The job market is currently an applicant economy, with many companies bending to meet the needs of job seekers. So as you look for your next role, research how a potential organization has adapted before accepting an offer.
Among organizations facing increased turnover, many have implemented or increased remote work flexibility (42%), employee referral bonuses (32%), and merit increases (28%). Some of the perks we’ve seen from the Great Resignation include increased benefits like 401(k) contribution matching, more paid time off, tuition reimbursement, and significant sign-on bonuses. This means that along with more opportunity, you also have more bargaining power. Keep this in mind before you sign your offer letter.
The Great Resignation isn’t necessarily some ideological shift. It’s people just like you, capitalizing on the abundance of opportunity. People who previously may have felt overworked, undervalued, or unappreciated. If you can relate, maybe you should look at what’s out there. You can start with our Careers page.