A recent survey by global recruiter Robert Walters reveals a growing trend among UK professionals who are hesitant to change jobs due to fears about job security.
The survey found that 71 percent of professionals are reluctant to seek new opportunities, with many citing concerns about stability at a new firm as a key factor.
This cautious approach marks a significant shift in priorities, with 77 percent of respondents now placing job security above salary when considering a new role.
The state of the economy is also playing a critical role, with 43 percent stating it significantly influences their decision to stay put. The impact of inflation, unemployment rates, and GDP growth were among the top concerns affecting career moves.
The Great Resignation
This phenomenon, dubbed “The Big Stay,” contrasts sharply with the “Great Resignation” witnessed just a few years ago when job changes and rising starting salaries were the norm. Chris Eldridge, CEO of Robert Walters UK & Ireland, warns that while staying in a current role may seem safe, it could hinder career growth and have broader economic consequences. He emphasised the importance of labour movement for both individual career progression and overall economic vitality.
The survey also highlights a shift in employer strategies, with 74 percent of companies reporting that job security is increasingly discussed during interviews. In response, 75 percent of companies are making efforts to be more transparent about their financial health and future plans to reassure potential hires. However, 25 percent of employers remain hesitant to disclose such information, fearing it might deter applicants.
Eldridge cautions that while some companies may avoid sharing financial details, transparency can ultimately attract the right talent. By being open about challenges and growth opportunities, employers can ensure they hire professionals who are well-suited to help navigate these uncertain times.
The findings reflect a broader sense of caution in the job market, as professionals weigh the risks of changing roles against the need for stability in an unpredictable economic climate.
Amelia Brand is the Editor for HRreview, and host of the HR in Review podcast series. With a Master’s degree in Legal and Political Theory, her particular interests within HR include employment law, DE&I, and wellbeing within the workplace. Prior to working with HRreview, Amelia was Sub-Editor of a magazine, and Editor of the Environmental Justice Project at University College London, writing and overseeing articles into UCL’s weekly newsletter. Her previous academic work has focused on philosophy, politics and law, with a special focus on how artificial intelligence will feature in the future.
