A huge increase in the number of people in the UK seeking a career move has created cause for concern among employers. In the past, a job for life was viewed as the ideal choice for many workers. However, with the rise of the gig economy and a workforce that wants more variety, challenge, and development throughout their career, that’s all changed.
Today, few people stay in the same role for more than a few years and with the current buoyant job market. In fact, unemployment rates are at historic lows in many countries. And it appears that more people than ever are looking to move on to new pastures. According to the latest figures from Gartner’s Global Talent Monitor, 23% of employees are not convinced they should stay with their current employer. Representing a 13% increase on the same 12 month period previously.
More reasons to make a career move
Aside from the fact that there’s a skills shortage in many sectors, there are plenty of other reasons why workers are thinking about jumping ship at the moment. Uncertainty about Brexit is certainly a factor, especially with those working in multinational firms. Many employees are unsure what will happen to their job. Should their organisation move part, or all, of their operations to an EU country in the event of a hard Brexit. Many companies have already set up bases in Ireland, France and Germany. This has clearly unsettled some workers. Many are now taking advantage of a strong job market and looking for a career move closer to home.
At the same time, many workers on zero hour contracts are also looking for more stability in a less competitive job market. In turn this will create recruitment problems for companies used to the flexibility offered by keeping workers on zero hour contracts.
Across the board, work-life balance, job location and stability were the main factors cited by workers looking to move on. This clearly represents opportunities for employers that are looking to secure the best talent. Those that can offer the working environments and benefits that appeal to employees seeking a better work-life balance will do best. Those that don’t could lose their best talent to their competitors, affecting their own performance in the marketplace.
People want to stay close to home
It’s interesting too that job location has become a big priority for candidates. Since the turn of the millennium the number of people willing to relocate for work has fallen by a quarter. As living costs rise in London, the days of taking a career move to the capital seem to belong to a past era.
Now, more people are seeker out job opportunities closer to home, or in the larger regional centres’. Graduates no longer have the money and stability to take a leap and move to London. Between 1996 and 1999, 38,000 more graduates moved to London than left, while between 2013 and 2016, that figure was just 4000. The rising cost of housing relative to salaries will have played a big role here.
However Brexit plays out, 2019 certainly looks to be a busy year for the recruitment market – for both candidates and recruiters alike.
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