A quarter (27 per cent) of workers in the UK plan to change jobs within the next six months, Randstad’s Employer Brand Research 2024 report has revealed.
The poll of 12,000 people in the UK aged 18 to retirement age found that these figures are rising – just 24 per cent planned to move jobs within the next six months this time last year, dropping as low as 22 per cent in 2022 and 19 per cent in 2021.
However, in January 2020, 26 per cent said they were planning to change jobs, exceeding their pre-pandemic levels.
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In the six months to January 2024, a fifth (19 per cent) of employees switched jobs, compared to a low of just 12 per cent in January 2021.
The number of those changing roles varied with gender, with a quarter (23 per cent) of men making the move, compared with just 16 per cent of women.
Simon Roderick, managing director of Fram Search, told People Management that “jobseekers, like employers, have been on a roller coaster since the pandemic struck”, adding that it has been a “crazy time” and “unprecedented”.
“During the initial stages of lockdowns people were simply happy to have a job, then there was a hiring boom and many received huge pay increases when changing firms. Then the perfect storm of geopolitical events and high interest rates made people nervous about seeking new employment in 2023,” he said.
“It’s no surprise to me that more people are planning to change roles as conditions normalise – there’s a lot of pent-up frustration. In the low-growth, high-tax economy we have, individuals are growing faster than their companies.”
Elizabeth Willetts, founder and director of Investing in Women, agreed, telling People Management that while during the pandemic workers “would naturally have hesitated to switch roles, [they] had the chance to reassess their careers and personal lives, with many placing newfound emphasis on work-life balance and job satisfaction”.
This reflects “a significant shift in employee expectations”, she said. “Many have experienced the benefits of remote work and flexible schedules and are now reluctant to return to rigid office-based roles.
“The frustration of being forced back into the office and a desire for roles that offer better balance are major drivers for current job changes.”
The biggest reasons workers cited for leaving their job included to gain a better work-life balance (41 per cent) and a lack of career opportunities (24 per cent).
Twenty two per cent said they lacked interest in their current position, while a fifth were swayed by the lack of flexible working options provided by their employer.
When choosing a new job, 60 per cent of candidates were looking for a good work-life balance, surpassing an attractive salary and benefits package (58 per cent) as their top priority.
A further half of workers were looking for job security (53 per cent) and good training (52 per cent) in a new role.
In addition, half (50 per cent) of employees said they wanted workplace equity, including fairness in hiring, opportunities and equal pay. The research found 53 per cent of workers who considered themselves a minority had faced obstacles in their career progression as a result of their identity, compared to a third (34 per cent) of those who did not identify as a minority.
Jo Benelisha, director of Strictly Recruitment, told People Management: “Employees want to develop and if they perceive limited opportunities for advancement or professional development in their current roles, they may seek positions that offer clearer career paths.
“Jobs that demand excessive hours or fail to respect personal time drive employees to seek positions with more balanced expectations.”
Mandy Watson, founder and director of Ambitions Personnel, said: “As the cost of living crisis looks set to continue post pandemic, we expect a trend towards benefits that can make pay packets go further – such as discounts on food shopping or other essentials, as opposed to those focused more on the luxury or ‘nice to have’ end of the spectrum.”
She added that employers should regularly review and adjust salaries and benefits “to ensure they are competitive within the industry” to help retain talent, including non-monetary benefits such as health insurance and retirement plans.
Willetts advised: “To improve worker retention, employers should focus on offering flexible and remote working options and not tying bonus payments to office attendance. This immediately creates resentment and [businesses] should foster a culture of trust and provide clear and attainable career development opportunities. By listening to their employees’ needs and wants, employers can enhance job satisfaction and reduce turnover.”
For advice on measuring turnover and retention, and more guidance on why people are leaving organisations, read the CIPD’s Employee turnover and retention factsheet