Report: 40% Of U.S. Employees Are Currently Looking For New Jobs With Better Pay Or Benefits
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The U.S. Bureau of Labor Statistics reported that 4 million Americans quit their jobs in July 2021. More people handed in their resignations in April than we’ve seen in recent years and have remained exponentially high the rest of this year, with about 10.9 million open jobs this summer. 

This can be attributed to a myriad of factors: a renewed awareness of mental health priorities due to the pandemic or perhaps shifting wages following the recession. But one thing is evident, people are demanding more from their employers, one way or another. 

Intuit QuickBooks recently released findings from their report based on a survey that examined employees’ reasons for leaving their jobs, and what they valued most from their working experience now. Based on the responses from 8,000 U.S. employees,  Intuit Quickbooks found that people are increasingly willing to quit their jobs in search of better pay and more fitting benefits packages. 

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“When the pandemic hit, we saw an unprecedented number of new businesses formed as millions of people spotted new opportunities brought on by the ‘new normal’ or reevaluated their priorities,” said Alex Chriss, executive vice president and general manager of Intuit’s Small Business and Self-Employed Group. “Now, almost two years later, we’re continuing to see this trend, as 2022 promises to deliver even more small business growth and prosperity.”

Attracting and Retaining Talent was a key theme of revelatory insight per the report. Intuit QuickBooks said that despite current challenges in hiring, 44% of small businesses said they will expand their workforce over the next three months. Aligning with the current trend of the Great Resignation, 40% of U.S. employees are currently looking for other jobs. 

Among business owners, 45% cited “rising costs” as the largest threat their businesses face. To combat this, nearly two-thirds of business owners (63%) are planning to raise prices over the next three months, which will further impact employees’ decision to seek higher-paying jobs.