‘Job hugging’: More employees deciding to stay put

Korn Ferry experts said the unpredictable and unprecedented global events, combined with looming AI disruption, are making employees unsure and holding on to their current employers.

While this may be good for retention, Matt Bohn, senior client partner at Korn Ferry, pointed out that others are remaining in holding patterns instead of developing their skills and careers, blocking up-and-coming employees.

“Firms run the risk of becoming comfortable perches from which workers can jump when the time’s right,” Bohn warned. “That’s the danger of this job market.”

What are the benefits

But job hugging could also deliver opportunities for employers as well, according to the experts.

Without the need to compete with external salary offers, they noted organisations are less likely to increase wages for their employees.