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Whether it is confidence in the slowly improving economy or the need for a higher salary or a better work/life balance, 26 % workers are planning to change jobs before the end of the year, according to a CareerBuilder.co.uk survey. 23% undecided if they will stay with their current employer or pursue another.
The national survey was conducted online in January 2014 and included a representative sample of 1,000 employees across industries and company sizes. While 43% of workers report that they are not actively looking for new employment, they would be open to a new job if a good opportunity presented itself.
One in ten workers say they are dissatisfied with their current role and point to concerns around value, salary, and growth. Still, 48% of workers claim they are satisfied with their current jobs mostly because of their co-workers and a good work/life balance. A fifth (20%) are neither satisfied nor dissatisfied.
Those who are dissatisfied cite the following concerns:
- Don’t feel valued in their current position – 73%
- Salary – 65%
- No training/learning opportunities – 41%
- Don’t like their boss – 36%
Those who are satisfied cite the following reasons:
- Like the people they work with – 59%
- Good work/life balance – 53%
- Salary – 34%
- Quick commute – 31%
Scott Helmes, Managing Director of CareerBuilder UK, commented: “Offering frequent recognition, merit bonuses, training programs and clearly defined career paths are important ways to show workers what they mean to the company. In general, however, when more workers change jobs it’s usually a sign the labour market is improving. During the recession, fewer people voluntarily left jobs because the chances of finding a new or better one were low compared to a healthier economic cycle. That trend seems to be slowly beginning to shift.”
With more than half of their workforce potentially heading out the door this year, employers will look to adjust their retention strategies to save some of their top talent. When asked: “What is the best way for a company to increase employee retention?” workers responded with the following:
- Increase salaries – 65%
- Offer flexible work schedules – 53%
- Increase employee recognition – 50%
- Survey employees regarding company changes and work with them to implement a few – 45%
- Increase training/learning opportunities – 43%
- Hire additional workers to ease workloads – 27%
- Carve out specific career paths and promote more – 25%
- Provide telecommuting – 22%