If you’ve been dreaming of handing in your two weeks’ notice due to job dissatisfaction, you’re not alone. A report by recruitment firm Hays indicates that 71% of Canadians are looking to leave their jobs within the next 12 months, marking the highest rate ever recorded by the organization. This is a notable increase from 61% in 2022.
The trend is expected to worsen as the economy recovers, with managers advised to prepare for a potential wave of resignations. The report highlights that an additional 25% of workers who do not intend to leave immediately may consider quitting once economic conditions and unemployment rates stabilize, pushing the potential leavers to 78%.
Job-hopping remains a significant trend, particularly in cities like Vancouver, where 20.5% of workers stay at their jobs for less than a year, followed by Montreal at 17.5%. In contrast, Ottawa shows the highest job loyalty, with 27.22% of workers remaining with their employers for over 10 years.
Hays’ data also suggests a slowdown in layoffs, with 51% of organizations looking to increase their headcount, potentially providing more opportunities for dissatisfied employees to find new roles.
The primary reason behind the desire to leave is dissatisfaction, fueled by wages that haven’t kept up with inflation, increasing stress, and concerns over salary, job roles, and benefits. The rising cost of living further exacerbates these issues, with 55% of Canadian employees reporting higher stress levels this year compared to last, and 46% feeling unmotivated in their current positions.
Ultimately, compensation is the key driver for employees seeking new opportunities, as they prioritize better pay, benefits, and career advancement from their employers.