A staggering 25 percent of workers are considering leaving their job this year, suggesting The Great Resignation is still in full swing.
This is according to new research from Reed.co.uk, which also found that further 18 percent are undecided on whether to leave or not.
Younger workers aged 18-34 are nearly twice as likely to consider a job change (32%) than workers aged 55-65 (17%).
‘Lack of enjoyment’ is ranked as the main reason behind workers considering a job change (30%).
This narrowly trumps a salary increase (29%) despite the growing cost-of-living crisis.
What are the other reasons fueling The Great Resignation?
The root causes of this sense of job dissatisfaction amongst workers range from low salaries (50%), toxic workplace culture (44%), poor management (39%), a sense of not being valued (34%), and a lack of career progression opportunities (16%).
It was amongst middle-aged workers – those aged 35-44- and 45–54-year-olds – that the desire to move jobs in search of more satisfying work ranked highest – 33 percent and 34 percent respectively. This compares to an average of 25 percent amongst other age groups.
However, 18-34-year-olds are almost twice as likely to actually act on this job dissatisfaction by considering a job move than older workers (32% compared to 17% of 55-64-year-olds).
For employers keen to retain staff, a salary increase (50%), flexible hours (24%) and more perks and benefits (24%) rank as the factors most likely to make workers stay.
Are benefits really the way to end The Great Resignation?
The benefits most valued by workers include flexible working hours (62%), remote working options (36%), mental health support (34%) and career development programmes (32%).
In fact, 45 percent of workers stated that they only apply for jobs that list flexible or remote working or are more likely to apply for such roles.
However, ‘Boomers’ are far less concerned about flexibility, with only 6 percent reporting they are looking for more flexibility in a new role. This compares to 22 percent of ‘Millennials’.
James Reed, Chairman of Reed.co.uk, comments: “Among the many long-lasting impacts of COVID-19 on the UK economy is the increasing demand amongst workers for employment that provides more meaningful, enjoyable and satisfying experiences.
“The record levels of job vacancies on offer across all sectors and regions have empowered workers to prioritise a sense of job satisfaction and, in turn, to more actively critique their current employer’s inability to meet their needs.
“While salary increases from current and prospective employers remain attractive to workers – increasingly so in a cost-of-living crisis – the fact that job dissatisfaction ranks so highly amongst all age brackets is a signal to employers that more can be done to better meet the needs of workers beyond pay rises.
“In fact, for UK businesses unable to match the salary offers of their competitors and attract talent, this re-focus in the workforce on job satisfaction may provide a unique opportunity to edge ahead by offering broader employee benefits beyond pay: such as more flexible working, mental health support and enhanced career development programmes.”
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.
