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What is Causing the High Turnover Rate in the Workplace?

Stockhouse Editorial
2 Comments| March 11, 2022

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New data has found that many candidates for employment have had an average of three jobs over the past two years.

This comes via the latest Recruiter Index released by recruiting solutions platform Recruiter.com (NASDAQ: RCRT, Forum) this week.

Looking at February 2022, the Recruiter Index showed that the job hopper economy is in full swing, with 26% of recruiters reporting that many of the candidates they were looking at have had three jobs over the past two years. This is in addition to a report from the Bureau of Labor Statistics that the “quits” rate for January 2022 stayed 20% above the 2019 average.

Recruiter.com CEO Evan Sohn told CNBC’s The Exchange, “We are seeing the companies - that are financially able to - instead of making three hires, go make four hires, knowing there's going to be a job hopper among those four.”

Management was the top reason employees are leaving their jobs (35%), with compensation (25%) and remote work (22%) the runners-up.

Candidate sentiment, a measure of how open candidates are to new roles, and the average recruiter sentiment, how recruiters feel about the current job market, both witnessed a decline this past February.

Although recruiters aren't feeling great about the current job market, the number of roles recruiters are working on saw a sharp increase that month, up to 21 from 14 in January.

Top 10 recruiting roles in demand:

10: Sales: 4% (+1% from January)
9: Hospitality: 4% (+3% from January)
8: Medical/Healthcare: 11% (-5% from January)
7: Business Services: 15% (+10% from January)
6: IT/Software Engineering: 18% (+3% from January)
5: Accounting/Auditing: 19% (-1% from January)
4: Recruiting/Staffing: 20% (+9% from January)
3: Apparel/Fashion: 20% (-3% from January)
2: Automotive: 27% (+15% from January)
1: Architecture/engineering: 29% (+6% from January)

A hiring platform for the network of recruiters, Recruiter.com works to empower businesses to recruit specialized talent faster with virtual teams of recruiters and AI job-matching technology. Its network of more than 25,000 small and independent recruiters utilizes a web platform, complete with AI-driven job matching, to recruit talent.

RCRT stock was up nearly 7% this week and more than 12% year-to-date, but is down more than 66% since this time, last year.


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