We ended 2014 with the number of people in employment at record levels, many businesses totally dependent on immigration to function adequately and an increasing number of job roles growing ever scarcer. We have also seen pay growth exceed increases in the cost of living for the first time for many years and predictions that pay growth in the future will outstrip increases in the cost of living. If this wasn’t enough bad news for employers, a new survey by the Institute of Leadership and Management has revealed that 37% of UK workers are planning to leave their current job, up from 19% in a similar survey 12 months ago.
This recent survey suggests that workers and managers want more from their job than better pay. 59% of those surveyed want more development opportunities compared to 56% of employees hoping for an increase in salary. Half of those surveyed said a more interesting role would tempt them to change jobs. Almost a third of employees would be tempted to quit their jobs to work with better management.
January is a popular time for employees to consider their work future. With forecasts of continued growth in the UK economy creating even more job opportunities, it is important for employers to recognise at an early stage that they will need to be on ‘top form’ when it comes to keeping their employees and sourcing additional staff.
While some employers will attempt to ‘buy their way out of trouble’ this is only a short-term fix. The best approach is to ensure that existing staff feel both valued and motivated and a key way to do that is through development programmes whereby skills can be developed so providing enriched work and promotion opportunities which in turn will enhance employee stability.
Finally employers will need to go the extra mile in recruiting the talent they need to succeed. Whether organisations attempt this directly or use recruitment agencies, they should remember that in addition to offering an attractive and interesting job at least at market pay levels, they need to sell the company brand, the internal culture, the effectiveness of management, the training and development opportunities and the reality of future vision.
Dr Hugh Billot
HR GO Group of Recruitment Companies
HR GO Recruitment offers solutions to all your staffing needs, temporary and permanent, please call 0845 130 7000
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