47% looking for a new job this year

Almost half of the UK workforce will be looking for a new job in 2018, with nearly one in five people already actively searching for opportunities, according to an annual survey by Investors in People.

Nevertheless, the IIP says this is an improvement in satisfaction across the UK job market of 12% on last year’s figure, where 59% of respondents stated the intention to seek a new job. But the IIP says it shows there are still nearly one in four unhappy workers.

IIP CEO Paul Devoy said: “In a year where unemployment has reached its lowest level since 1975, but wages have stagnated, the improvements to the labour market have failed to translate to the pockets of UK workers. With research suggesting that employee disengagement costs the UK economy £340 billion annually, bad leadership is eroding UK productivity. With 49% of workers citing poor management as the main reason they’re considering looking for a new job next year, management strategies must evolve to meet the demands of employees if organisations are to retain staff.”

The statistics also revealed that nearly a third (31%) of people would rather have a more flexible approach to working than a 3% pay rise, suggesting that by offering simple schemes like remote working, employers can improve job satisfaction. The findings also show that if employers wish to attract and retain staff, they must not only offer pay at a competitive level for their sector, but they must also ensure good quality, enjoyable work.

The top three reasons for people wanting a new job are feeling they can get more satisfaction elsewhere (48%); feeling they can get more money elsewhere (43%), not having skills that are valued by current employers (29%).

The poll also asked respondents how they thought Britain’s decision to leave the EU would affect their jobs. IIP’s results revealed that 23% of people believe that Brexit will negatively impact their job security.

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