'Big stay' career trend has employees hunkering down: Here's what's at work
Move over, 'quiet quitting' — today's career trend is the 'big stay' and there are reasons for it
A new workplace trend is garnering attention from both workers and their bosses, and it's hot on the heels of "quiet quitting."
The latest career trend has employees thinking twice before handing in their notice — and choosing to stay put in the jobs they have.
Current economic conditions are at work here, experts noted, as fewer workers are quitting their jobs and there are fewer job openings to fill.
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Job experts weighed in on how this development is or will be impacting the American workforce — and what to know about it.
How does the ‘Big Stay’ impact American companies?
As the economy slows and the likelihood of a recession looms, CEOs are bracing for economic softness, said Joe Galvin, chief research officer with Vistage, a CEO networking group with worldwide headquarters in San Diego, California.
"CEOs' hiring plans have decreased and workers are seemingly starting to follow suit," Galvin, who is based in Stamford, Connecticut, told Fox Business.
"In the coming months, employees may be more willing to hunker down to ensure job security amid an overarching economic slowdown," said one executive. (iStock / iStock)
"In the coming months, employees may be more willing to hunker down to ensure job security amid an overarching economic slowdown."
However, while the country may be experiencing a slight cooling in the demand for talent compared to the white-hot labor market of 2021, current levels remain significantly higher than those observed pre-pandemic, Galvin noted.
"Once the next growth cycle kicks in, the demand for talent will skyrocket again."
"Also, economists anticipate this slowdown will be short-lived," he continued. "Once the next growth cycle kicks in, the demand for talent will skyrocket again."
When workers have options, they will upgrade to better jobs, pay and working conditions, he also said.
"Employees want to know that their employer is invested in their long-term career trajectory," said one workplace expert. (iStock / iStock)
"’The Big Stay,’" he added, "will be as short-lived as the economic slowdown."
How can companies increase employee morale during this time period?
Improving the culture and upgrading the physical workplace are two tried-and-true methods to boost retention, Galvin said.
"Employee development is another crucial offering for retention. Employees want to know that their employer is invested in their long-term career trajectory," he said.
"Frontline bosses have the most direct impact on their direct reports’ day-to-day experience."
Another powerful way to increase retention is management development, Galvin said.
"Frontline bosses have the most direct impact on their direct reports’ day-to-day experience, and therefore, are the biggest drivers of retention and engagement," he said.
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"A boss must have solid leadership and performance management skills to attract and retain high-performing employees. People rarely quit jobs — they quit managers."
Why are employees becoming more complacent?
Employees can become complacent for a variety of reasons, including lack of purpose-driven work, burnout, poor work-life balance, conflicts with coworkers and the absence of guidance from their manager or an unengaging corporate culture, Eric Cormier, manager of HR services at Insperity, told Fox Business.
"A boss must have solid leadership and performance management skills to attract and retain high-performing employees. People rarely quit jobs — they quit managers," said one executive. (iStock / iStock)
"Sometimes, complacency can start with feeling overly secure in a role, to a point where performance suffers," noted Cormier, who is based in Boston, Massachusetts.
"If workers grow too complacent, they can suffer consequences such as decreases in professional growth, productivity and job satisfaction," he added.
How can employees become more empowered to look for another job if they aren’t fulfilled professionally?
When employees feel their job does not meet their professional goals, they are well within their rights to begin searching for a new job, Cormier also said.
"Employers understand most employees will not work for them forever and that a new role can lead to growth," he explained.
Employees "should reframe their way of thinking, so they break down goals into achievable tasks and set a schedule to tackle them."
"On the other hand, employees should consider approaching their current employer if they see potential for satisfaction, given reasonable changes."
Negotiations with a current employer can help employees receive greater compensation, transfer to a new department or even receive a new manager, he said.
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Finding motivation can be a challenge for everyone, whether the goal is searching for a new job or making a commitment to go to the gym.
"Workers should not wait for motivation to spontaneously inspire them to begin the job hunt," said Cormier.
Creating an environment in which people want to work is key to keeping staffs engaged, said one workplace expert. (iStock / iStock)
"Instead, they should reframe their way of thinking, so they break down goals into achievable tasks and set a schedule to tackle them."
"For many people, checking off a task will create motivation to take on the next one on their list."
How can companies boost engagement amid the ‘Big Stay’?
Creating an environment in which people want to work is key to keeping staffs engaged, according to Galvin with Vistage.
"Company culture remains a crucial component of employee satisfaction, as well as employees’ ability to feel connected to their work," Galvin told Fox Business.
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The important job of leaders, he also said, "is embodying the culture they desire and pulling it through to the entire organization. A strong culture can unify employees whether they are in-person, fully remote or somewhere between the two."
He added, "Culture can stop an employee from applying elsewhere and make a candidate choose one organization over another."