Workers Hold Tight to Jobs Amid Uncertainty

Workers Embrace “Job Hugging” Amid Labor Market Uncertainty

A new buzzword is making its way into the workplace vocabulary: “job hugging.” Unlike the post-pandemic era of “job hopping,” where employees sought better pay and perks by moving frequently, today’s workforce is showing signs of digging in and staying put.

According to consulting firm Korn Ferry, “job hugging” describes workers who hold tight to their current roles due to concerns about the broader economy and job market. The trend comes as both voluntary quits and new hires fall to some of the lowest levels in nearly a decade.

Surveys reflect this cautious outlook. Eagle Hill Consulting reported workers are increasingly likely to remain in their current roles for at least the next six months, citing rising pessimism about job opportunities. The Bureau of Labor Statistics also reported a quits rate of 2.0 in June, the lowest non-pandemic level since 2016.

Beyond statistics, consumer sentiment plays a role. The University of Michigan found that 60% of Americans expect unemployment to worsen over the next year, marking the highest level of concern since the Great Recession. CEOs, too, are bracing for tighter conditions, with more than one-third predicting workforce reductions in the coming year.

For employees, job hugging represents a focus on security over ambition, prioritizing stability amid economic uncertainty. For employers, it could mean retaining top performers becomes easier than luring new talent away.