Stop with the cute names — this is about economic survival
I’m tired of reading about the latest workplace trend with its accompanying cute name. Lately, it’s “job hugging” — apparently what we’re calling it when people don’t quit their jobs.
Before that, it was “quiet quitting,” “bare minimum Monday,” and a dozen other phrases that make serious economic realities sound like lifestyle choices.
Let’s be clear about what is actually happening: People aren’t hugging their jobs out of some newfound loyalty or work-life balance epiphany. They’re holding onto them because the alternative is financial uncertainty in an increasingly unstable economy.
The real numbers
The Federal Reserve reports that hiring rates are at their lowest point in a decade. AI is eliminating entry-level positions faster than new ones are being created. Market instability has made career moves feel like financial roulette. These aren’t trends, they’re survival responses.
When Korn Ferry reports that employees are “holding onto their jobs for dear life,” it means economic anxiety is manifesting in employment patterns.
What it means for organizations
Stop expecting the same turnover patterns you’ve relied on for years. Your top performers aren’t leaving for 10% raises anymore because they are genuinely uncertain about market stability. Gen Z, previously painted as job hoppers, are now the most likely to stay put — not because they love their roles, but because they’re afraid of what’s out there.
This creates both challenges and opportunities:
The Challenge: Your talent pipeline has slowed significantly. Internal promotions are backed up. Fresh perspectives are harder to access.
The Opportunity: Now is the time to invest in the people you have. Skills development, internal mobility programs, and genuine career pathing aren’t nice-to-haves anymore. They’re retention necessities.
The bottom line
People staying in their jobs is an economic reality to understand. Instead of labeling behaviors with catchy names, focus on the underlying financial pressures driving them.
Want to attract talent in this environment? Offer genuine stability, transparent career progression, and skills development that make people more marketable, not less. Because when the economy eventually stabilizes, the organizations that invested in their people during the uncertain times will be the ones that thrive.