Almost half staff to change jobs
Employee pay continues to fuel unrest in the workplace with two-fifths (40%) reporting that they are planning to move jobs in 2024, and one in six have already begun their search, according to the latest Candidate Sentiment Survey statistics produced by specialist recruitment firm Robert Half (www.roberthalf.co.uk).
According to the data, salary remains a key driver of job moves with 45% of workers wanting a higher salary, and 32% saying they would consider a counteroffer. While the number of workers wanting to change jobs due to salary is now lower than the 47% recorded for the same period last year, Robert Half’s latest statistics demonstrate the resilience of the labour market as more candidates look to capitalize on skills shortages to boost earnings.
Corporate ethics continues to dominate the agenda for job seekers. Half (50%) of workers surveyed say they will not work for an organization with values which don’t match their own – with a further 63% indicating that a company’s values would steer their decision to move jobs if similar salaries were on offer. This can be particularly seen in the 18-34 age bracket compared to any other age group (56%). Additionally, flexible working remains a prominent factor with 29% saying they want more agile working arrangements.
“The UK’s labour market has faced significant challenges and upheaval over the last few years, but the sentiment of candidates remains resilient. The combination of skills shortages and a cost-of-living crisis is causing some employees to jump ship for a pay boost, with the younger generation leading the way,” comments Matt Weston, Senior Managing Director UK & Ireland, Robert Half.
“While there has been a slight slowdown in planned job moves, our research shows that people are still confident in their ability to find new employment opportunities this year. What is certainly of note for employers, though, are the figures related to non-financial incentives. With workers indicating a desire for not only flexible working options but also a synergy between their values and those of their employer, firms will need to be able to offer more than just a salary boost if they are to source the right resources on a long-term basis.”
Robert Half’s statistics also reveals that London is set to witness the greatest talent exodus of all regions, with 56% of workers in the Capital planning a job move – with almost a quarter (23%) already looking for a new job. The West Midlands saw the second highest numbers (45%) followed by Yorkshire and Humberside (42%).