Salaries and flexible working top workers' list for employee retention

Higher salaries and flexible working are the top ways to increase employee retention, according to a survey of staff by CareerBuilder.co.uk.

Higher salaries and flexible working are the top ways to increase employee retention, according to a survey of staff by CareerBuilder.co.uk.

The survey of 1,000 employees across industries and company sizes, found 26 per cent of full-time employees plan to change jobs in 2014; additionally 23 per cent haven’t decided if they will stay with their current employer or look for another.

While 43 per cent 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.

The survey found one in 10 workers say they are dissatisfied with in their current role and point to concerns around feeling valued, salary, and growth. Still, 48 per cent of workers claim they are satisfied with their current jobs mostly because of their coworkers and a good work/life balance. Twenty per cent are neither satisfied nor dissatisfied.

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“Offering frequent recognition, merit bonuses, training programs and clearly defined career paths are important ways to show workers what they mean to the company,” said Scott Helmes, Managing Director of CareerBuilder UK. “In general, however, when more workers change jobs it’s usually a sign the labor 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.”

When asked what is the best way for a company to increase employee retention, 65 per cent of employees said increasing salaries, 53 per cent said flexible working and 50 per cent said increased employee recognition.

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