Are YOUR staff looking for a #NewDawn, as 4 in 10 employees look to change jobs?
New research shows that as confidence in the economy returns, 40% of employees in UK and Ireland want to change roles in the next six to 12 months – a situation that will lead to significant costs for employers.
The survey links the situation to a combination of factors, not least the fact they have opted to stay put for the last 18 months due to concerns over job security and eligibility to use furlough as a back stop or safety net – but also as a result of burnout and frustration, with a perceived lack of employer support during the pandemic.
A total of 500 HR decision makers as well as over 2,000 workers contributed to the findings – which have uncovered a lack of preparation by businesses for such a turn of events.
Only 26% of employers saying talent retention is a priority for their organisation, despite 45% of employers currently worrying about the number of staff leaving.
The research indicated that there are a significant number of differences of opinion which are contributing to the situations, namely:
- Employers believe they have supported teams during the pandemic better than employees suggest they have.
- Businesses are more than twice as likely as their employees to rate their inhouse support for career development as ‘good’.
Many employers are currently planning the wider return to the office, and to previous ways of working – and the survey highlights the importance of getting this process right.
Employers need to make sure they involve their employees in what the future of work in their company should look like in order to avoid losing their talent.
The research indicated that the top 10 reasons why employees will be looking for another job over the next 12 months are:
Lack of career progression opportunities – 29%
Not enough appreciation of the work I do – 29%
Poor management – 25%
Pay freeze/cut – 23%
Boredom at work – 23%
Poor work/life balance – 22%
Toxic workplace culture – 18%
Lack of learning or development opportunities – 17%
I want to move to a new industry – 17%
No bonus – 15%
If you need help to better understand the situation in your organisation we can help, both in terms of understanding the reason staff are leaving but most importantly what you can put in place to mitigate this potential exodus before it starts.