Be prepared for a talent exodus from your business in the coming months. That’s the underlying message from Investors in People’s (IIP) Job Exodus Trends Report for 2017. Nearly 6 out of 10 people are thinking about moving jobs this year, representing a rise of 10% on last year. A quarter of employees have already begun their job search according to IIP.
High levels of employee dissatisfaction are the result of a combination of factors, three of which we have highlighted below. Will these classic employer fails prompt a talent exodus in your organisation?
Pay is the reason given by over half of UK employees for their job search in IIP’s report. It’s not the only time that financial issues have made the headlines during this week. A new survey from the CIPD found that one in four employees aren’t focused on their jobs because of money worries. 18-24 year olds and people living in London are most affected. These are fundamental issues for employers and in the light of the negative publicity over Fat Cat Wednesday last week should be regarded as a priority. In 2016, one fifth of workers were not paid on time by their employers. The CIPD has called on employers to consider the impact of financial concern on employee health, happiness and productivity. For SMEs unable to increase employee pay or organisations who are limited by pay structures, flexible working is a viable alternative. Over a third of employees said they would choose flexible working over a 3% pay rise.