Fewer workers are planning to switch jobs, according to a study released today by Robert Half Inc. (NYSE: RHI). Only 36% of US workers plan to seek a new job in the next six months, down from 49% when asked in July 2023.

Why are more workers staying? The top reason was their current job offers a level of flexibility that they aren’t willing to lose; this was cited by 44% of people surveyed. It was followed by those saying they were fulfilled in their current role at 42% and those who say they feel well compensated for their work at 37%.

“The churn in the labor market of the past few years has normalized,” Dawn Fay, operational president of Robert Half, said in a press release. “We’re now seeing workers pause and take stock of their careers as well as employers taking a more strategic approach to hiring.”

The percent of workers likely to make a move fell across generations. While 55% of Gen Z said they were likely to make a move, that’s down from 74% who were asked the question in July 2023. Among baby boomers, only 13% were planning to make a move, down from 23% in the previous survey.

However, when asked about factors that might prompt them to look for a new position, 55% of workers cited higher salary, 36% reported better benefits and perks and 32% said a job with more remote flexibility than their current company offers.

Fay noted while employers may have more leverage in today's job market, they still face hiring challenges.

“Professionals who possess the desired skills to help boost company productivity, alleviate workloads and complete mission-critical projects are still in high demand,” she said. “Hiring managers should have a thoughtful plan in place so they are ready to compete for talent.”

The online survey firm includes responses from more than 1,275 adult workers in finance and accounting, technology, marketing and creative, legal, administrative and customer support and human resources at companies with 20 or more employees in the US. It was conducted from Oct. 27 to Nov. 17, 2023.