Two in five could quit

job tomorrow and be

financially stable for
more than six months

NAME- SHAMYL BAIG SUBMITTED TO

Enrollment No.- 0511 DR. N.MALATI
 OVERVIEW
Presentation of findings from BambooHR's study on work
and unemployment expectations among U.S. adults

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 Feasibility of Unemployment
• Key Point: 41% of Americans believe they could be financially stable
while unemployed for more than six months.
• Insight: Employers must understand the potential for extended
unemployment among workers.

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 Cost of Turnover
• Key Point: Over 65 million U.S. workers could take a six-month break
from work without pay.
• Insight: Hiring one new employee costs over $4,000, emphasizing the
importance of retention strategies.

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 Shift in Worker Priorities

• Key Point: Workers closely examine desired pay and workplace

environments.
• Insight: Significant career pivots observed as workers prioritize fulfillment
in their jobs.

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 Career Changes
Key Point: Nearly two-thirds of working Americans have considered
changing their career path in the past six months.
Insight: Leaders face pressure to ensure employee fulfillment to prevent
turnover.

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 Dissatisfaction and Industry
Preferences
• Key Point: 27% of American workers consider quitting due to
dissatisfaction with work.
• Insight: Healthcare, business/professional services, and arts/entertainment
are among the top industry preferences for a job change.

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 Generational Differences
• Key Point: Generational preferences for industry changes.
• Insight: Millennials and Gen Z are more inclined towards career shifts
compared to Gen X and boomers.

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 Financial Considerations

- Key Point: Wages as the main driver for career shifts.

- Insight: Living wages and opportunities for raises identified as crucial job
characteristics.

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 Multiple Job Holders
- Key Point: 10% of employed Americans work multiple jobs.
- Insight: Financial necessity drives secondary employment.

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 Coping with Unemployment
- Key Point: Savings, family income, and retirement accounts utilized during
unemployment.
- Insight: Financial support is crucial during periods of unemployment.

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 Employee Recognition

- Key Point: Actions employers can take to make employees feel valued.
- Insight: Bonuses, one-on-one recognition, and job support are key for
employee satisfaction.

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 Conclusion

- Summary of key findings and implications for employers.

- Emphasis on the need for adaptability in retaining talent and fostering
positive workplace relationships.

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Presentation title

SUMMARY

BambooHR, a cloud-based human resources management platform, conducted a study of over 2,000 U.S. adults to examine shifts in work and unemployment expectations. The study reveals that the
Great Resignation trend continues, with 43% of working Americans considering a job change in the past six months. Surprisingly, 41% believe they could remain financially stable while unemployed
for more than six months, with an average duration of eight months.

With over 65 million U.S. workers potentially able to take a six-month break without pay, employers are urged to prioritize retention efforts, given the high cost of hiring new employees. Anita
Grantham, BambooHR's HR head, notes a significant shift as workers prioritize factors like pay and workplace environment, leading to drastic career pivots.

Key findings from the study include:

- 27% of workers are considering quitting due to work dissatisfaction.

- 88% are open to switching industries, with healthcare, business/professional services, and arts/entertainment being top choices.
- Generational differences show 94% of Gen Z and millennials considering industry changes compared to 84% of Gen X and 72% of boomers.
- Money is a major motivator, with living wages and opportunities for raises being top priorities.
- Dissatisfaction and feeling undervalued by employers are driving factors for career changes, with 38% feeling least valued in the past year.
- The pandemic has strained employee-employer relationships, with one-third feeling less cared for by employers in the past two years.
- Employers can improve employee satisfaction by offering bonuses/raises, individual recognition, and adequate job support.

The study underscores a significant shift in workforce dynamics, with workers increasingly prioritizing fulfillment and fair compensation, prompting employers to adapt strategies to retain talent and
foster positive workplace relationships.
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