Economic uncertainty is making workers fearful of jumping ship, survey finds
With the cost of living still elevated and the potential for recession still high, Canadians are less keen to leave the relative security of their current job.
A new survey from Aviva Canada found that the ‘Great Resignation’ is not the best strategy right now and the work-from-home spike that was driven by the pandemic has also eased with fewer people doing so permanently (19%) compared to last year (27%).
With around one fifth of respondents saying they are stressed about inflation and a possible recession and 13% concerned about layoffs and economic conditions, safety and stability is a priority rather than moving employers.
Not that job security is guaranteed and 13% are concerned about their ability to find a new job should they lose their current one.
More than 1 in 10 respondents also indicated being concerned that poor economic conditions may negatively impact their pay rise or promotion.
“Cost of living and inflation worry is a sentiment widely expressed throughout this year's report, reflecting how economic doubts have lingered post Covid, impacting Canadian decisions from housing to activities to leisure activities and even their decision to perhaps remain in their current roles," said Susan Penwarden, Managing Director, Personal Lines, at Aviva Canada.
Commuting costs
While more people are going into a workplace rather than working from home all the time, there has been a rise in hybrid working (29% in 2023 compared to 25% last year).
But despite concerns Canadians express about rising costs and their frustrations with commuting, they still overwhelmingly (88%) prefer using their own private modes of transportation
