Breaking News :

OIA Announces Social Investment Policy, Launches “Qimam” Platform

POPS Supervisory Committee Holds First Meeting in 2024

Bank Muscat’s Sayyarati Auto Finance Option Comes with the Best Financing Facilities for Customers

“Ooredoo Oman Welcomes Khawla Al-Amiri as Chief People Officer, Reinforcing Commitment to Local Leadership Empowerment”

Bank Muscat Launches EAGLEs Programme: A Pioneering Leadership Engagement Across Branch Network

“Forging Tomorrow: A Global Imperative for Advanced AI Infrastructure”

“High-Paying Careers in Artificial Intelligence: Securing Your Future in the Evolving Job Market”

HM The Sultan Issues Two Royal Decrees

Unlocking New Horizons for Entrepreneurs: The Fourth Industrial Revolution

Royal Army of Oman Celebrates Passing Out of Officer Cadets, University Officers

HM The Sultan Offers Condolences on the Death of Kuwaiti Emir

HM The Sultan Gives Audience to Business People in India

HH Sayyid Theyazin Conveys HM The Sultan’s Greetings to Russian President

First Muscat Dialogue Sessions Begin

Oman and Switzerland Strengthen Bilateral Cooperation with Multiple Memoranda of Understanding

Empowering Coastal Women in Oman: “Mina” Project Unveiled

Information Minister Affirms Keenness to Strengthen Communication with International Media Institutions

“Oman’s Education and Innovation Drive: Sultan Haitham’s Vision”

UAE Space Agency launches National Space Academy to develop national cadres

HM The Sultan Presides over 8th Term Convening of Council of Oman

Selecting Topics Phase Launched of “Together we Make Progress” Forum

HM The Sultan Issues 2 Royal Decrees

Interior Minister visits Operations Chamber of Shura Council Elections

Omanis Cast Ballots for Shura Council’s 10th Term Membership

“Navigating Talent Challenges in Oman’s Telecom Sector”

“Bank Merger in Oman: A Human Resources Transformation Story”

Omantel’s 5G Excellence Recognized with “Samena Communications Award”

NHS scientist awarded £58,000 after being named ‘Paininarse’ on spreadsheet

‘Kill list’ | Mystery doc shows list of LinkedIn staff facing redundancy, days before HR announcement

HM The Sultan Receives Ambassadors’ Credentials

“Empowering Omani Women: A Message of Hope and Progress”

Mohammed bin Rashid opens GITEX GLOBAL

HH Sayyid Bilarab Chairs Meeting of Omani Startups’ Supervisory Committee

“Dhi Yazan bin Haitham Al Said Inaugurates Duqm Economic Forum “

Omani Woman: Clear Vision & Remarkable Achievements

“Strategies for Cultivating a Healthy and Productive Work Environment”

“Essential Reading for HR Professionals: 17 HR Books You Can’t Miss in 2023”

“Future-Proofing Your Career: Essential Skills for Tomorrow’s Job Market”

MAWARED annual book

Transformational Leadership: Inspiring Change and Achieving Excellence

“al sulaam Program (Episode four) with Dr. Aamal al bussaidi .”

“al sullam Program (Episode Two) with Dr. Ahmed Al-Ghusani.”

Nama Group and Omani Society for Human Resource Management (OSHRM) announce strategic partnership in Human Resources development

Saudi Oil Giant Aramco Announces $121 Billion Profit in 2023

Tender Board Signs Agreements with Karwa Motors on Government Procurement, School Bus Purchase

Najahi Business Banking from Bank Muscat: Empowering Small Businesses

His Majesty Exchanges Ramadan Greetings With Arab, Islamic Leaders

A’Rustaq Hospital Diagnoses Child with Gastric Wall Vein Bleeding

QCB Launches ‘FAWRAN’ Instant Payment Service

National Development Fund Partners with World Economic Forum

Qatar Chairs 49th Meeting of GCC Standing Committee for Combating Harmful Practices in International Trade

Saudi Arabia’s Air Connectivity Program Signs Deal with Eurowings to Enhance Air Connectivity between Saudi Arabia and the EU

HM King presented unique development model: Omani Ambassador

April 15, 2024

Report: Decreasing Loyalty to Employers among U.S. Workers Sparks Job Changes

A recent report suggests that many U.S. workers are leaving their current jobs for other opportunities, indicating a decline in loyalty towards employers. According to LendingTree, an online lending marketplace, the median job tenure among U.S. workers dropped from 4.6 years in January 2012 to 4.1 years in January 2022, representing a 10.9% decline, as reported using data from the U.S. Bureau of Labor Statistics (BLS).

Maggie Davis, a staff writer at LendingTree, suggests that the drop in job tenure could be attributed to the “growth recession” following the Great Recession, which reached its peak in January 2012. During periods of economic uncertainty, workers tend to prioritize job security, but as the economy improves, they may feel more confident in exploring new job opportunities.

A previous study conducted by Qualtrics, which surveyed 3,000 employees, revealed indications that employees are willing to exert additional effort to secure their positions at their current jobs. Matt Schulz, Chief Credit Analyst at LendingTree, acknowledges that American workers have experienced two challenging periods, namely the Great Recession and the pandemic, within a relatively short timeframe. He believes that the lessons learned from these periods will continue to be relevant, potentially leading to further drops in job tenure.

Schulz further predicts that employees will increasingly be open to switching jobs, actively seeking new companies or being receptive to new opportunities. Additionally, the trend towards side hustles is expected to grow as people seek multiple revenue streams instead of relying solely on their primary employment.

Notable Findings:

  1. Job Tenure by Gender, Sector, and Occupation: According to LendingTree, between 2012 and 2022, the median job tenure for women decreased by 17.4%, while for men, it declined by 8.5%.

Industries with the largest drops in average job tenure (based on percentage) include:

  • Motion pictures and sound recording (46.2% drop)
  • Furniture and related product manufacturing (44.6% drop)
  • Paper and printing (43.3% drop)
  • Publishing, except internet (42.4% drop)
  • Utilities (36.8% drop)

Occupations with the largest drops in job tenure include:

  • Food preparation and serving-related (30.4% drop)
  • Transportation and material moving (27.9% drop)
  • Architecture and engineering (25.7% drop)
  • Production, transportation, and material moving (25.0% drop)
  • Office and administrative support (22.9% drop)

Some industries, however, experienced an increase in job tenure, including:

  • Petroleum and coal products (53.1% increase)
  • Mining, quarrying, and oil and gas extraction (48.6% increase)
  • Textiles, apparel, and leather (27.9% increase)
  • Repair and maintenance (16.2% increase)
  • Agriculture and related (14.6% increase)
  1. Strategies to Improve Employee Retention: To retain workers, Workhuman, a provider of cloud-based human capital management software solutions, suggests implementing the following strategies:
  • Recognize employees’ contributions.
  • Invest in employee development.
  • Foster social relationships in the workplace.
  • Optimize compensation plans.
  • Offer hybrid and remote work options.
  • Enhance work-life balance.

Additionally, according to the U.S. Bureau of Labor Statistics, there were 29.8 million foreign-born workers aged 16 years and above in the civilian labor force, either currently employed or actively seeking jobs, in 2022.

Overall, the report highlights the diminishing loyalty among U.S. workers towards their

Read Previous

CIPD Festival of Work 2023

Read Next

Unemployment Rate in Eurozone Falls to 6.5% in March

Most Popular