What to know Before you Job Hop, According to Survey, 96% of Workers will be Seeking for New Position in 2023

According to the Chinese calendar, it will soon be the Year of the Rabbit, but it might as well be the year of the new job. As per recent survey by the employment website Monster.com, a staggering 96% of workers will be looking for a new job in 2023, mostly in search of higher income.

Even when compared to the figures at the height of the “great resignation,” Vicki Salemi, career specialist at Monster, stated, “This is incredibly high.” According to a study by Monster, 40% of job applicants claimed they need a greater wage owing to inflation and rising costs. Others claimed that their current position does not allow for growth or that their workplace is hostile.

A good time to look is always around the beginning of the year

Although wage growth has been strong historically, it hasn’t kept up with the rising cost of living, which is still up 6.5% from a year ago, which has led to an increase in the number of workers who are dissatisfied with their income.

One of the most effective ways to increase your earnings and career possibilities is to change jobs frequently.In fact, the income gap between those who change jobs and those who remain in their current positions has reached a historic level.

According to the most recent data from the Atlanta Federal Reserve, Daniel Zhao, head economist at Glassdoor, workers who have changed jobs have experienced a 7.7% wage boost as of November while those who have stayed in their positions have seen a 5.5% increase.

Recent government data reveals the U.S. labour market is still strong, with a record low unemployment rate of 3.5%, despite the possibility that it may slow as recession worries take root.

Since fiscal budgets have been restored, the first quarter of the year is always an excellent time to look, according to Barbara Safani, president of Career Solvers in New York. Some industries continue to perform exceptionally well, she noted, despite recent news of widespread layoffs. Cuts are normally scheduled many months in advance, so those businesses wouldn’t be recruiting in January if they were likely to occur.

Key things to think about before starting a new career

Before accepting a new position, Safani remarked that there are other factors to take into account besides income. You might be making more money, but you should thoroughly investigate the opportunity. Safani advises clients to think about how the position stacks up in all respects.

She declared, “It’s not always apples to apples. “Workers can have both—a greater income and a happy, productive workplace.”