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A third of workers would prefer a more flexible approach to working hours than a 3% pay rise, according to research from Investors in People.
The findings are highlighted in a new report “Job Exodus Trends 2016” which shows that one in five employees across the country will look for new jobs in 2016, with one in five already job hunting. One in five are complaining of high workloads (19%), nearly a quarter are concerned by a lack of career progression (23%) and over a quarter are unhappy with their levels of pay (27%).
Nearly a third of employees say they are miserable in their jobs – due to a combination of poor management (43%) and not feeling valued (39%).
Unsatisfactory pay was the third reason as to why employees were unhappy in their current roles (38% of respondents cited this).
The survey asked respondents to choose between two scenarios – a 3% pay rise, in line with recent UK increases, or a different non-remuneration benefit:
– a third (34%) of employees said they would prefer a more flexible approach to working hours than a 3% pay rise
– nearly a third (28%) said they would rather have a clear career progression route
– a quarter (24%) would rather their employer invested in their training and development more.
Paul Devoy, Head of Investors in People said: “Improved salaries over recent months means that pay is less of a gripe for UK workers. But longstanding issues around poor management and how valued people feel in their work continue to make UK workers miserable. We know that bad leadership alone costs the UK £39 billion a year. If employers addressed these factors, they would have a more committed workforce and far fewer resources tied up in constant recruitment drives.
“As the economy improves, many employers run the risk of losing their valuable, skilled staff.”
When asked what one thing their employer could do to increase their happiness in their current role, one in eight just wanted to be told ‘thank you’ more, nearly one in 10 would prefer more flexible working hours and one in 16 simply wanted more clarity on what their career progression options are.
Career progression was of particular concern to younger workers. Over a quarter of 18-24 year olds said they felt they had no clear career progression in their current role.
Paul added: “Small things can make a big difference. Feeling valued, understanding their role in the organisation and how they can grow with an organisation are all big concerns for UK workers. Saying thank you, involving employees in decisions and giving them responsibility over their work are basic ways to make staff happier, and more likely to stay. Employers also win, with a more committed workforce, higher retention and a clearer view of the future.”