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More Than Half of Workers Fantasize About Quitting. The Economy Is Keeping Them Put
By Liliana Hall MONEY RESEARCH COLLECTIVE
More than half of workers fantasize about quitting, but most plan to stay put. Here’s what’s keeping them on the job.
More than half of workers fantasize about quitting their jobs, but most aren’t planing to go anywhere. This disconnect suggests that feeling fed up with work and being ready to leave it are two very different things.
Nearly 6 in 10 workers (59%) say they often feel checked out on the job, while 55% report fantasizing about quitting, according to the latest Workplace Wellness Survey from the Employee Benefit Research Institute, or EBRI.
Yet 60% report being satisfied with their jobs, and 90% say they plan to stay with their current employer for at least two more years.
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A steady paycheck, benefits and uncertainty about finding another job may help explain the disconnect. Workers can appreciate what a job provides without feeling particularly invested in the work itself — or be ready to give up the security that comes with it.
Why workers are staying in jobs they don’t love
For some workers, a consistent paycheck and a sense of security may matter more than passion or career growth. That’s the idea behind “job hugging,” a term for workers who stick with their current jobs rather than pursue other opportunities, even if they’re not particularly fulfilled by the work.
In a recent survey by job-search platform Monster, 48% of workers said they’re currently job hugging. Pay and benefits were among the biggest reasons for staying, cited by 66% of respondents, followed closely by job security or stability (64%). Meanwhile, 33% said they weren’t confident they could quickly find another job if they left.
“For most people, the daydream is an escape valve, the way we daydream about a trip,” says Lena McDearmid, founder and CEO of Wryver, a workplace culture and leadership consulting firm. “It’s a release, not a plan, and the economy blocks the plan.”
The result may be a workforce that sticks around for the security of a job without feeling genuinely connected to the work.
McDearmid says job satisfaction and engagement measure different things. Satisfaction often depends on whether a job meets practical needs, such as providing a paycheck and stability. Engagement reflects a worker’s connection to their work, team and employer.
“People don’t see their connection to the outcome,” McDearmid says. “They know what they do, but not why it matters or where they fit.”
The EBRI survey findings suggest that feeling disconnected may be part of the problem. Just 24% reported often or always feeling valued for their contributions at work. More than half (52%) said they frequently perform below their capabilities, while 50% reported they did just enough to get by with the same frequency.
But while workers may not be ready to walk away, there are changes that could help improve their experience on the job.
What would make workers feel more engaged?
A bigger paycheck might not solve all workers’ problems, but it’s a pretty good place to start. Among workers who often feel disengaged at work, 52% said higher wages would improve their experience at work.
More time off could help, too. About a third of those workers (32%) said additional time off would make a difference, while 29% pointed to better work-life balance. A more supportive supervisor (26%) and better benefits (25%) also made the list.
But pay isn’t the only thing workers care about. Nearly half (49%) ranked work-life balance among their top three priorities beyond compensation, ahead of schedule flexibility and more paid time off.
McDearmid says improving engagement also requires employers to understand what their workers actually want.
“If you want to raise engagement, start by asking your people what they want,” she says. “Then make it safe to tell you the truth.”
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Liliana Hall is an Austin-based reporter for Money, where she covers a range of topics, including financial news, policy, banking, investing, passive income, financial planning and student loan debt. Passionate about accessibility and financial literacy, she’s dedicated to helping readers navigate the complexities of money management and feel empowered to make informed decisions about their financial futures. Previously, Liliana covered all angles of personal finance as a writer and editor at CreditCards.com, Bankrate and CNET. Before she ever wrote about money, she worked in a handful of newsrooms across Austin, Texas, covering everything from the Texas Legislature to SXSW and the 2019 Men’s NCAA Swimming and Diving Championships. Her work has been featured in The Daily Texan, Austin Chronicle and KUT. A Texas native, Liliana graduated from the University of Texas at Austin with a bachelor’s degree in Journalism. When she’s offline, you can probably find her paddle boarding on Lady Bird Lake, riding her moped around town or reading for her book club.