Latest news with #jobhugging
Yahoo
9 hours ago
- Business
- Yahoo
‘Job hugging' is the newest career trend: Here's what it means—and why Gen Z is into it
The era of 'job hopping' is over. Get ready for 'job hugging.' Unsold completed new-build inventory is so high this $34B homebuilder is turning to investors 'Job hugging' is the newest career trend: Here's what it means—and why Gen Z is into it Spotify just redesigned the way you'll 'listen' to audiobooks Korn Ferry, a global organizational consultancy firm, has published a new report showing that employees are no longer moving quickly between new job opportunities and are instead choosing to stick it out in their current positions for the foreseeable future. 'At an alarming rate, more and more employees are displaying what is colloquially known as 'job hugging'—which is to say, holding onto their jobs for dear life,' the report reads. Just a few years ago, job hopping—or moving from company to company in search of the next best opportunity—was trending among employees, especially younger workers looking to climb the corporate ladder. Now, though, the opposite is true. Korn Ferry's analysts say AI disruption, a lack of new jobs, and an unpredictable economic market are some of the main reasons why employees are doubling down on their current positions. What is job hugging? According to a July report from Arlington, Virginia-based Eagle Hill Consulting, the majority of employees plan to stay in their current position for at least the next six months, with Gen Z employees reporting the highest intent to remain where they are. Further, the data found that the market opportunity indicator—a measure of employees' perception of the outside job market—has dropped to its lowest level since the report's inception. The growing pessimism around employment opportunities isn't unfounded. A recent report from global outplacement and coaching firm Challenger, Gray & Christmas found that through the end of July, U.S.-based employers had announced more than 800,000 job eliminations in 2025—the highest number of jobs lost in the same period since the global pandemic in 2020. Meanwhile, job growth has turned sluggish: Per a July report from the Bureau of Labor Statistics (BLS), the U.S. economy created just 73,000 jobs in July, down from the 111,000 monthly average of earlier this year. The report also significantly lowered previous estimates for May and June job creation. Many employees are pumping the brakes on hiring as inflation rises and President Trump's tariffs continue to throw the market into periods of major flux. On top of these trends, the increasing utility of AI technology is changing how some organizations are structured, and even threatening some occupations with replacement. Korn Ferry cites all of these factors as contributing toward the growing prevalence of job hugging. 'Market instability is one of the major reasons I see as to why candidates, especially performers, are reluctant to move,' says Stacy DeCesaro, a managing consultant at Korn Ferry. 'Top performers are waiting for a more stable market before they take a risk with a new role and company. Top performers are generally only leaving if they are miserable in their current role, are offered a significant compensation increase, or are feeling very unsettled with their company's viability, leadership, or culture.' For recruiters, Korn Ferry's report notes, this trend is poised to make hiring significantly more difficult. On the bright side, though, it might be an opportunity for organizations to invest more in their top talent and encourage younger employees to put down roots. This post originally appeared at to get the Fast Company newsletter: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Business
- Yahoo
Workers are ‘job hugging' in a stagnant labor market, but growing resentment means they could bail as soon as the next Great Resignation comes
More employees are planning to stay at their current jobs as a stagnant labor market shakes workers' confidence they'll be able to find work elsewhere. This act of 'job hugging,' however, can exacerbate employees feeling stuck, stoking resentment toward their employers. One workplace expert said this growing discontent will lead to another Great Resignation once market conditions improve. A stagnating labor market is leading workers to hold tightly on to their jobs, even as growing workplace uncertainty stokes resentment and concern among employees, consultants warn. But while employees are staying put to weather the storm, this act of 'job hugging' may only be temporary as they prepare to flee as soon as market conditions improve. The pandemic-era 'Great Resignation' saw 47 million people quit their jobs in 2021 and 50 million more in 2022 as they looked for flexible working conditions and higher pay. As job openings and turnover returned to pre-COVID levels in 2023, the mass exodus of workers transitioned to the 'Great Stay.' Today, as tariff uncertainty threatens companies' growth plans and private equity funding slows—not to mention advancements in AI stoking employees' fears about being displaced—workers are staying put with extra anxiety. They're concerned that should they quit, they wouldn't be able to find options elsewhere, according to consulting firm Korn Ferry. This act of 'job hugging' has workers hanging on to their positions 'for dear life.' 'Given just all the activity that happened post-COVID and then some of these constant layoffs, people are waiting and sitting in seats and hoping that they have more stability,' Korn Ferry managing consultant Stacy DeCesaro told Fortune. Since 2024's fourth quarter, the Eagle Hill Consulting Employee Retention Index has indicated growing employee intent to stay at their current jobs in the next six months. The consultancy also saw a 4.4-point drop in its Market Opportunity Indicator last quarter, indicating a steep decline in employee perceptions of the job market. U.S. payrolls grew by just 73,000 in July, and have expanded by an average of only 35,000 in the past three months. 'No one is wanting to leave unless they're very unhappy or miserable in their job or just feel so unsettled by the company,' DeCesaro said. Growing employee frustration Just because more employees are sticking around doesn't mean they are happy about it. A November 2024 report from Glassdoor found that 65% of employees reported feeling 'stuck' in their current positions, including 73% of those in tech roles. With fewer alternatives, sitting tight at one's job has, for many, resulted in cabin fever. 'It's no accident that trends like 'quiet quitting' are resonating now,' Daniel Zhao, lead economist at Glassdoor, wrote in the report. 'As workers feel stuck, pent-up resentment boils under the surface and employee disengagement rises.' On top of bleak job prospects elsewhere, employees are also grappling with a rotating door of company management, which has exacerbated feelings of discomfort and disconnect from a firm's vision, DeCesaro said. Some of her clients said they've worked under three different company presidents in the past 18 months. CEO turnover rates have reached their highest in decades, with departures jumping 12% from June 2024 to June 2025, according to data from executive placement firm Challenger, Gray & Christmas, reaching the highest levels since the company began tracking turnover in 2002. In other cases, DeCesaro said, new management has provided hope for employees, incentivizing them to stick around that much longer, even if their workplace culture ultimately doesn't end up changing for the better. Taken together, these factors have led to the rise of 'quiet cracking,' employees reaching a breaking point and mentally checking out. The productivity dip as a result of employee disengagement cost the world economy $438 billion in 2024, according to Gallup's 2025 State of the Global Workplace report. 'Great Resignation' redux Employees may have few other career options now, but once market conditions improve, this quiet discontent will no doubt mean déjà vu for employers, DeCesaro said: Another Great Resignation is coming. 'Once the market improves, I think it's going to be super active because there's a lot of pent-up demand of like, 'I've been miserable here for a while, but I've just been waiting for a better opportunity or a better market to move,'' DeCesaro said. If employers want to ensure their workers don't leave as soon as they see other career options, they should focus on looking for opportunities to open doors of communication between management and rank-and-file workers, as well as take the time to gather and listen to workers' feedback, according to DeCesaro. With some jobs remaining entirely remote, there should be a continued effort to gather once a year or quarter to create a cohesive company culture. 'It's going to be a fruit basket turnover of talent,' DeCesaro said. 'But if you've invested in your people between now and when that happens, people are going to be reticent to leave.' This story was originally featured on Solve the daily Crossword
Fast Company
2 days ago
- Business
- Fast Company
‘Job hugging' is the newest career trend: Here's what it means—and why Gen Z is into it
The era of ' job hopping ' is over—get ready for 'job hugging.' Korn Ferry, a global organizational consultancy firm, recently published a new report showing that employees are no longer moving quickly between new job opportunities, and are instead choosing to stick it out in their current positions for the foreseeable future. 'At an alarming rate, more and more employees are displaying what is colloquially known as 'job hugging'—which is to say, holding onto their jobs for dear life,' the report reads. Just a few years ago, job hopping—or moving from company to company in search of the next best opportunity— was trending among employees, especially younger workers looking to climb the corporate ladder. Now, though, the opposite is true. Korn Ferry's analysts say AI disruption, a lack of new jobs, and an unpredictable economic market are some of the main reasons why employees are doubling down on their current positions. What is job hugging? According to a July report from Eagle Hill Consulting, the majority of employees plan to stay in their current position for at least the next six months, with Gen Z employees reporting the most intent to remain in place. Further, the data found that the Market Opportunity Indicator—a measure of employees' perception of the outside job market—has dropped to its lowest level since the report's inception. The growing pessimism around employment opportunities isn't unfounded. A recent report from Challenger, Gray & Christmas found that through the end of July, U.S.-based employers had announced more than 800,000 job eliminations in 2025— the highest number of jobs lost in the same period since the global pandemic in 2020. Meanwhile, job growth has turned sluggish: Per a July report from Bureau of Labor Statistics (BLS), the U.S. economy created just 73,000 jobs in July, down from the 111,000 monthly average of earlier this year. The report also majorly edited down previous estimates for May and June job creation. Many employees are pumping the brakes on hiring as inflation rises and President Trump's tariffs continue to throw the market into periods of major flux. On top of these trends, the increasing utility of AI technology is changing how some organizations are structured, and even threatening some occupations with replacement. Korn Ferry cites all of these factors as contributing toward the growing prevalence of 'job hugging.' 'Market instability is one of the major reasons I see as to why candidates, especially to performers, are reluctant to move,' says Stacy DeCesaro, a managing consultant at Korn Ferry. 'Top performers are waiting for a more stable market before they take a risk with a new role and company. Top performers are generally only leaving if they are miserable in their current role, are offered a significant compensation increase, or are feeling very unsettled with their company's viability, leadership, or culture.' For recruiters, Korn Ferry's report notes, this trend is poised to make hiring significantly more difficult. On the bright side, though, it might be an opportunity for organizations to invest more in their top talent and encourage younger employees to put down roots.
Entrepreneur
2 days ago
- Business
- Entrepreneur
What Is Job Hugging? The Latest Trend in Career Stagnation.
Why consultants say employees staying in one place is bad for business. Last week, consultants at consulting firm Korn Ferry asked a question that revealed a growing workplace trend. The question: "Have you noticed any colleagues leaving for a new role lately, or been asked to help someone find one elsewhere?" The answer for many people was "no," and Korn Ferry says it points to an "alarming" trend of "job hugging" — where employees feel like they are holding onto jobs "for dear life" out of fear of economic instability, rather than making bold moves in their careers. Related: How to Know If You Are Being Quietly Fired "There's quite a bit of uncertainty in the world — economic, political, global," Matt Bohn, an executive search consultant at Korn Ferry, said in an article quoted by CNBC. And that is contributing to the other side of the stagnation coin — employers hiring fewer people. According to the Federal Reserve Bank of St. Louis, the hiring rate is at its lowest point in a decade. Stagnation isn't great for employees or employers. For workers, it means diminished earnings (most job changes come with a larger salary), and for employers, it means a slowdown of fresh ideas and perspectives. In a recent sitdown on Entrepreneur's podcast, How Success Happens, founder and investor Kim Perell advises people to follow her rule of thumb: "If you're not earning and you're not learning, you've got to make a change." She says three years after working at a job, if you are not making significantly more money or gaining new skills, you owe it to yourself and your career to move on.
