Workers Stay Put Due to Turbulent Job Market
A third of staff are staying put rather than risk job security by moving, research by recruitment firm Hays has found.
According to the survey of 1,795 adults, 33 per cent were reluctant to change jobs in a turbulent job market, preferring to put off job seeking until the economy picked up. A total of 18 per cent felt there were no jobs that required their skills, while 21 per cent feared they would not find a better-paid position.
Hays director Charles Logan said the UK’s fragile economy had made a “significant impact” on workforce morale. Many workers were “overworked and disillusioned”, he added.
“Employers need to take steps to make sure employees remain motivated and productive, otherwise they risked losing skilled and experienced workers,” said Logan.
But the Federation of Small Businesses (FSB) said job insecurity among employees could be “a good thing” for bosses, because staff were less likely to leave.
“Being able to keep hold of trusted employees in a tight job market is hugely beneficial for small-business owners.”
said FSB spokeswomen Prue Watson.
“They are less likely to be under pressure to offer attractive pay rises or perks which they often cannot afford when the economy is difficult.”
However, HR expert Hilary Jeanes, director at Purple Line Consulting warned small-business owners not to get “complacent” with higher retention levels, otherwise workplace morale would suffer.
“Staff don’t want to be taken for granted. To make sure workers remain enthusiastic and motivated, employers should find out what people are good at and allow staff to develop ― otherwise they risk damaging the business in the long term.”
Jeanes suggested offering on the job training, encouraging staff to carry out a range of tasks or allowing workers to swap roles with colleagues to gain new skills.
“Consider staff benefits too ― they don’t always need to be financial. Allowing a bit of flexibility here and there, or even bringing in a cake or a bottle of wine if you’ve clinched a big deal can be hugely appreciated. Saying thank you goes a long way.”