The Big Stay: The latest workplace trend
The latest workplace trend is here. “The Great Resignation” has turned into “The Big Stay.” This term is being used to describe the trend of workers now staying at their current jobs for an extended period of time. According to the ADP Research Institute, the rate of Americans quitting their jobs is down by 5% from this time last year. This is a significant shift in the workplace culture.
This new trend challenges the traditional idea of frequent job changes and puts more emphasis on the value of long-term commitment and loyalty to a company. This is what many in the older generations are used to. As employees and employers alike recognize the benefits of stability and commitment, The Big Stay has emerged as a powerful force shaping the American workforce. Employees are investing their time and energy in one place, cultivating expertise and a sense of belonging. They’re no longer resigning (or retiring), and a lot of that has to do with the economy and the way we view work and success.
3 Factors Driving The Big Stay
- The traditional view of workplace success is evolving. Professionals are now prioritizing personal fulfillment, work-life balance, and meaningful contributions over rapid promotions and higher salaries.
- Emphasis on company culture and employee well-being. With employers placing more emphasis here, it is encouraging employees to stay where they are treated well.
- The economy and news of layoffs. Many employees feel safer staying where they are, rather than taking a chance on a new job only to be laid off soon after. This job market volatility has led many to prioritize stability.
Benefits of The Big Stay for Employers
Other than the obvious benefit that you keep your employees longer and don’t have high turnover, there are a few great benefits of this new trend.
- Professional Growth: Staying with one employer for an extended period offers more opportunities for professional growth. Employees can gain deep knowledge of their industry, refine their expertise, and become invaluable assets to their employers. This deep expertise opens doors for leadership roles and career advancements within the same company.
- Employee Well-being: The Big Stay emphasizes the importance of job satisfaction and employee well-being. Employees who stay with a company for a longer duration often experience greater job security, stability, and a stronger sense of belonging. This, in turn, can lead to increased motivation, higher productivity, and improved work-life balance.
- Organizational Loyalty: By fostering a culture of loyalty and commitment, organizations can reduce turnover rates, retain top talent, and maintain a stable workforce. Long-term employees become ambassadors for your values, contributing to a positive work environment and attracting like-minded individuals.
This new trend reflects a growing understanding that career success is defined by investing in a supportive and fulfilling work environment. In the face of uncertainty, now is the time to invest in your people. If your employees are underpaid, micromanaged, or treated unfairly, they will leave to find another employer who will treat them right. But if they have a clear path to their goals, and are well compensated and empowered, they will not leave.
So the question is, how are you treating your employees? Are you providing them with a workplace that encourages them to stay? Is the “Big Stay” here to stay? Handler believes that might be the bigger question.