With unemployment rates the lowest they have been since records began in 1971, there has been more pressure placed on employers to source and secure candidates with the required skill-set. However, the issue could now well be employee retention with 70% of UK employees open to leaving their job, with nearly a quarter (24%) actively looking for new opportunities and nearly half (46%) passively looking.
The research published by The ADP Research Institute (ADPRI)* also found that it is not often a lucrative pay rise that is the main motivation to switch jobs, as UK employees demand the lowest salary increase at 10% compared to the rest of Europe at 12%. In conjunction with these findings, employees in the UK consider themselves less loyal than our European counterparts, with only 48% stating their loyalty compared to the 58% European average.
Possible reasons for their lack of commitment to their employers;
- 62% of UK workers don’t feel valued, in comparison to 44% of German employees
- 54% say they don’t feel purposeful
- 62% believe there is no such thing as job security
56% of employers on the other hand believe their workforce does feel valued and 61% think they do feel purposeful.
These findings show obvious employer misconception amongst some and that although many candidates are currently in jobs, employers will struggle to retain them if the role is not meeting their expectations which not only includes work hours and pay, but job satisfaction.
As well as the need to feel valued and purposeful, UK professionals want to feel challenged and have access to improve their skills, according to LinkedIn’s latest report Inside the Mind of Today’s Candidate. This was the top reason why professionals stay with their existing company, with work-life balance also top on the agenda.
It was also found that poor company leadership is one of the most influential factors in an employee’s decision to look for a new role.
*The research was carried out by ADPRI and published in their report, The Evolution of Work 2017. They reached these results after surveying over 8,500 employees and employers across 13 countries, in companies with more than 50 employees for their report.
Source: Recruitment Grapevine
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