A recent study by the Institute of Leadership & Management (ILM) has found that a third of employees plan to leave their current job this year. 32% of workers want to leave, giving lack of progression as the number one reason, with a quarter of respondents citing this reason. Other reasons such as poor future prospects and lack of opportunity were key factors for some employees. 17% said they would move because of a lack of appreciation, whilst only 15% said they would move to get a better salary.
This is an increasing trend. In 2015, 34% of those who left their jobs did not even have a new job to go to, but said they were too fed-up to stay on!
Head of Research and Policy at ILM, Kate Cooper, had this to say:
“The beginning of a New Year, is a natural point for people to start thinking about their future job prospects and there are many steps managers can take to respond to this. Our research indicates it is the opportunity to progress and not the desire for a bigger pay packet that is the main motivation in looking for a new job. Highlighting the progression opportunities that are available such as project leading, secondments and job shadowing will help demonstrate that there are development routes within the organisation. Ensuring staff feel part of the organisation and their achievements are recognised and appreciated will help to retain them and the talent the business needs”
A poll by Investors in People found similar trends in employees desiring to feel valued in the workplace. A third said they would rather have a more flexible working life or a clear career progression than a pay rise. Paul Devoy, Head of Investors in People said that:
“Feeling valued, understanding their role in the organisation, and how they can grow with the business 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.”
A summary of why workers are planning to move in 2016:
- More progression – 26%
- More appreciation– 17%
- Career change – 17%
- Better salary – 15%
- More enjoyment – 12%
What does this mean for students and graduates?
As Kate Cooper says, the beginning of the year is a great time to start thinking about career prospects – whether you are a current student or a graduate. Finding the right fit is really important so that you can feel valued as an employee and want to stay in your job for the foreseeable future.
So whether you’re a student who will soon be looking for a graduate job, or a graduate who is fed up and looking for something new, think about what you really value in a new role. With your Gradintelligence account, you can be targeted for roles that suit you, based on your degree, your experiences, and your preferences. Sign up or log in at www.gradintel.com and update your profile to have the best chance of being targeted for your next graduate role!