People aren’t just hunkering down in their homes — they’re hunkering down in their jobs, as well.
Welcome to “hibernating” or “sheltering-in-job,” which three in four working Americans admit to doing right now in a new LinkedIn survey.
More than 5,500 LinkedIn members were surveyed between Jan. 16-29 this year for the job search site’s latest edition of its Workforce Confidence Index. And 75% of employed respondents said they are not leaving their current role or company — even though they may want to — which LinkedIn describes as “sheltering-in-job” or “hibernating.”
“Ambition isn’t dead, but for people in steady jobs, it might be hibernating.”
And that’s understandable considering the country is nearing a full year into the pandemic — and while there are certainly hopeful signs as new confirmed COVID-19 cases have started declining and more people are getting vaccinated, almost half a million people have lost their lives.
And millions more have lost their livelihoods. New applications for U.S. unemployment benefits rose in mid-February to a four-week high of 861,000, showing lots of Americans are still losing their jobs.
So it’s not too surprising that these are the top reasons why the workers blessed with steady income are digging into their current jobs right now:
- 59% say that collecting a steady paycheck and keeping household finances stable is keeping them there.
- 30% are taking advantage of a company’s benefits and perks.
- 15% are waiting out the pandemic for a more favorable job market.
- 14% have no time or energy to focus on a job switch — understandable as many have had to take on unpaid second or third shifts as caregivers for sick relatives, and home-school teachers for kids learning remotely.
This aligns with a notable LinkedIn report from October, which found that while overall hiring was down, internal hiring was almost 20% higher than in 2019. This further suggests that many people are choosing to stay at their current companies.
And Deloitte’s Global Millennial Survey 2020 found that the pandemic was inspiring greater job loyalty among the generation that had been more prone to job-hopping before. Indeed, more millennials said they would like to stay with their employers for at least five years than would prefer to leave within two years, which was a first in the five years that Deloitte has asked this question.
In the LinkedIn survey, Black employees were the most likely to say that they were sticking with a current job or position, with 82% saying they are sheltering-in-job compared with 74% of white respondents, 70% of Hispanic respondents and 68% of Asian respondents. Black Americans have been disproportionately affected by the pandemic from almost every angle, including suffering more severe illness and death from the virus, and having less access to the vaccine. Black-owned businesses have also shut down more than twice as fast as white-owned businesses during the pandemic, the Federal Reserve Bank of New York reported last summer.
But employers can take some heart — not every worker is staying put out of sheer necessity.
A little less than half of respondents (45%) also reported “truly enjoying the nature of the work I do,” and 15% said they were developing new skills in their current positions. Another 18% cited being recognized for their work, such as getting a promotion or an award, for encouraging them to stick around.
Another popular option: more than half (51%) pictured themselves becoming their own boss in their next role, such as starting a business or going freelance.