The Quiet Quit Has a New Name: Job Stagnation

As we reach the midpoint of the year, many employees are starting to feel the weight of being in the wrong job. But what exactly does it mean to be in the “wrong” job? Is it when you’re underpaid or overworked? When your manager is more focused on meeting targets than investing in employee growth? Or perhaps it’s when you’ve simply outgrown your current role and need a change of scenery.

Recent data from Jobs and Skills Australia suggests that August has been the best month to look for work, with strong job advertisements but fewer applicants per role. However, this ideal job market comes with a caveat: the proportion of workers who are handing in their notice and deciding to move jobs over the past year has fallen to its lowest yet recorded.

The Australian Bureau of Statistics reports that our “job mobility rate” is now just 7.2 percent of the workforce. This means approximately 1 million people changed jobs in the past 12 months, primarily led by younger workers who are switching jobs markedly less than in previous decades. This statistic tells us that despite ideal job market conditions, many employees are choosing to stay put rather than take a chance on something new.

One reason for this phenomenon may be that workers are being cautious about making any sudden moves due to the global economic uncertainty and upheaval. Many employees have been waiting for secure work, only to find themselves stuck in stagnant roles. This has led to a significant drop in job mobility.

Before making a move, consider your finances, mental health, the market, industry, and engagement levels. However, perhaps the most important question is: when did you last learn something genuinely new at work? If it’s been six to 12 months since you’ve picked up any new skills or knowledge, it might be time to think about a new role.

It doesn’t always have to mean switching companies; sometimes one meaningful conversation with your manager can add new skills to your role or shift into another that might just be the change you were looking for. But waiting too long in a stagnant role can easily backfire, turning disengagement into resentment as you stand still in a job that’s going nowhere.

In this climate of job stagnation, employees must take control of their careers before someone else forces them to. This may mean taking the leap and looking for a new job or having an open and honest conversation with your manager about what you need to stay engaged and motivated. Whatever the choice, one thing is certain: the current job market offers an opportunity for change that shouldn’t be ignored.

The question now is whether employees will take advantage of this chance or continue to stick it out in stagnant roles. Only time will tell, but one thing’s for sure - the days of quietly quitting are behind us. It’s time to face the reality of job stagnation head-on and make a change before it’s too late.