How many workers at your company are looking for a new job? Perhaps more than you thought.
In 2023, “the great stay” trend developed when turnover was at a low rate. That followed a two-year period of “the great resignation,” when employee churn hit a record high. And now, there are signs the job market may be shifting once again, with almost half (48%) of workers saying they’re at least somewhat likely to search for a job by mid-2026, according to a June Bankrate survey of 1,005 people either working full time or seeking full-time employment. And 25% of them characterized themselves as “very likely” to do so.
More than a quarter (27%) of workers said their level of worry about their job security has worsened since January of this year, compared with 15% who said it has improved.
In fact, 26% of them said they’re likely to start their own business by the middle of next year.
In another sign of a possible softening of the 2023-2024 employers’ market, 44% of participants in the June survey said they’re likely to ask for a raise within a year.
“As the job market has normalized following the period a few years ago when it was widely described as red-hot, many workers are seeking better pay or new work,” said Mark Hamrick, senior economic analyst for Bankrate, a consumer financial services company.
More than a third (36%) of those surveyed reported being likely to ask for more flexibility with work hours and remote work. That marked a pullback from the previous year, when 42% of workers told Bankrate they’d requested greater workplace flexibility.
The survey revealed that a worker’s income level affects their likelihood of being in job-search mode. Those making less than $50,000 were unsurprisingly the most likely (58%) to search for a new job, while those earning between $50,000 and $79,999 followed at 47%.
The $80,000-$99,999 cohort continued the pattern at 29%. However, it reversed to 41% among those making at least $100,000.
Generationally, 53% of Gen Z workers (ages 18 to 28) are likely to look for a job, not much more than the 49% of Millennials (ages 29 to 44) and 48% of Gen X (ages 45 to 60) reported the same. Among Baby Boomers (ages 61 to 79), one in four expect to be job seekers.
On a positive note, 22% of the employees said their employment/career situation has improved since January of this year, compared with 14% who said it has worsened.
