A Candidate-Driven Job Market: Insights for Talent Leaders Hiring Gen Z to Millennials
Research conducted for The Wall Street Journal
In early 2022, a survey was conducted by Cappfinity and YouGov on behalf of The Wall Street Journal to determine the new hire turnover rate for 2021 and to identify the top reasons why new employees quit or were thinking of quitting on short notice. Of the 622 survey respondents who got a new job since January 2021, 38% quit within a year, 17% quit within three months and 9% quit in less than a month. While reasons for quitting or contemplating quitting varied, the top reasons were that they decided to leave the workplace completely (24%), they found a better work opportunity (21%),or they were experiencing a toxic work environment (21%).
The past 24 months have been difficult for talent leaders. Throughout the pandemic Cappfinity published best practices, research, and recommendations for recruitment and development. In November 2021 Cappfinity commissioned YouGov to survey job seekers in hopes of gaining a better understanding of what candidates in the U.S. faced in 2021.
The new and initial findings are captured in A Candidate-Driven Job Market: Insights for Talent Leaders Hiring Gen Z to Millennials report.
Key insights in the report:
For the first time since the Great Depression era, 52% of young adults in the U.S. are living with their parents
51% of respondents reported they would be unlikely to work with a specific recruiter again if they did not provide a positive interviewing experience