Amidst the rapidly evolving job market, a staggering 68% of workers have taken proactive “career cushioning” measures by embarking on the search for new career opportunities. Career cushioning is the process of being proactive about career prospects in case anything goes wrong with current employment.
According to a Robert Walters poll of 2,500 white-collar professionals, the primary drivers causing workers to career cushion are poor job satisfaction (48%), lack of job security (28%), and internal changes within their business (16%). Interestingly, only 8% attributed their career cushioning to a turbulent economy.
“Professionals are acutely aware of the difficulties organizations are facing due to challenging economic conditions, but interestingly it seems the way these companies are dealing with these challenges is what is affecting employees most. Consequently, nearly half of professionals are engaging in ‘career cushioning’ as a proactive response to low job satisfaction, actively seeking roles that offer increased levels of fulfilment,” says Peter Milne, managing director of global recruitment firm Robert Walters North America.
When asked what type of tactics workers were taking to create a career cushion actively applying for jobs (67%) and monitoring the jobs market (53%) came out on top. CV/resume prep (24%), increased networking (20%), and upskilling (17%) were also noted.
People Recognizing Their Worth
A significant majority of professionals (68%) reported that their perusal of the job market and self-assessment of their skills has led them to realize they are currently underpaid. Less than a quarter of respondents expressed satisfaction with their current compensation, indicating that they believe their pay falls short of industry standards.