Oct. 02--U.S. workers are staying put in their jobs despite an improving economy, suggesting they're wary of taking employment risks even as companies struggle to fill open positions.
The number of employed U.S. workers actively seeking new jobs dropped 6 percent in the second quarter compared to the same period last year, according to a recent quarterly report by business research and advisory firm CEB, which polled 18,000 people in 20 countries.
Those who say they intend to stay at their jobs has steadily risen in the U.S. over the past three quarters and is at a five-year high of 49 percent.
Job hunting rose during the recovery from the recession, as people who had been clinging to their jobs saw renewed confidence and opportunity, but recently "employees have become increasingly risk averse," said Brian Kropp, practice leader at CEB.
One reason may be that China's economic troubles this summer caused a ripple of insecurity among global business leaders and labor markets sensitive to the financial trauma of 2008 and 2009.
"We were surprised by the speed of the reaction," Kropp said. But staying put isn't all bad news, as the share of employees who reported putting in extra effort at work has been on the rise for a year.
Meantime, the average length of time it takes companies to fill a job has increased, at least those requiring certain in-demand skills. In the U.S., it took an average of 58 days to fill a mobile developer position in the second quarter, up from 31 days last year, the report said. Globally, the time frame jumped to 55 days from 45.
Companies struggling to fill positions could partly blame the slowdown in job seeking, but their own processes add obstacles. The number of people involved in making hiring decisions has increased, , Kropp said.
In addition, the quality of active job applicants has diminished as the strongest hires found jobs during the recovery and many companies now fish for talent among passive job seekers through tools like LinkedIn, Kropp said.
The pay bump it takes to lure people to new jobs hasn't changed much, but its importance may be declining, Kropp said. The "switching premium," as it is called, which was 15.2 percent last quarter, has slowly been trending down since 2010, in part because people are prioritizing elements of work besides compensation.
"People are willing to take less money for better work/life trade-offs," Kropp said.
aelejalderuiz@tribpub.com
