This post originally appeared on Forbes on September 16, 2024.
The “September surge” recruitment season is in full swing, which is good news for job seekers because the competition for open roles is fierce. Data from both LinkedIn and Workday’s Global Workforce Report verifies that job search intensity is on the rise. LinkedIn data ranks Singapore, the U.S., and the U.K as the top three markets where job searching has intensified, and Workday reports that job applications are up 31% for the first half of 2024, compared to this time last year.
What is driving such a sharp increase in job applications? “I think it’s a really interesting statistic, particularly when you compare it to the increase in job openings,” says Daniel Pell, vice president and country manager, UKI, Workday. Pell believes several reasons are behind this spike in people looking for greener pastures. “Over the past few years, the job attrition rate has been fairly low. So now we’re seeing a spike and a rebalance. Employees are starting to think about moving roles, and they’re doing that because meaningful work is important to them.” Providing meaningful work is a win-win: according to the report, those who find their work meaningful feel 37% more accomplished.
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