‘Invest in your workers’, businesses told
Businesses in the UK are being advised by a new study to invest in their workforce unless they want to lose their best staff.
HR Review reports that over 14 million people – or nearly half of the country’s workforce – are considering leaving the job for pastures new over the next 12 months.
The revelation comes following research conducted by Investors In People (IIP) – which blamed continuing work dissatisfaction and rising confidence in the jobs market for the shift in attitude.
It also suggested that many employees had been forced to effectively lay low in posts they were unhappy with for reasons ranging from feeling undervalued to bad management, purely because of fears over insecurity. However, with the economic situation improving, many have now been prompted to look elsewhere.
This is supported by 23 per cent of respondents saying that had the situation been better this time last year, they would have already started their search to move on.
Around a quarter of those taking part in the survey said they were unhappy in their current job, with two-thirds looking for greater satisfaction in the work that they do. This motivating factor came well ahead of better pay, with 48 per cent of workers citing this as a reason. A similar number also said that bad management was giving them a headache, while a third felt that they would be better valued at another company.
IIP chair Valerie Todd said: “As the job market improves, companies who don’t value their staff risk losing them to rivals and having to spend time and money recruiting and training replacements.”
She added that businesses needed to take action now to ensure that they would be able to keep hold of their talented employees.
A recent study by Office Angels found that flexible, mobile working policies could play a key role in retaining staff, with 59 per cent saying they would reconsider their position if it did not offer the option to have a say on where and when they worked.