35% of employees leave for more money
Findings stated that 60% of respondents look for a new job because they want new challenges and better progression which a bigger motivator than more money (24%). Despite this, the biggest factor for workers accepting their current role was revealed to be an attractive salary (35%). With culture being the third reason employees seek out new roles.
Three quarters of candidates said a company’s reputation is important when looking for a job, which emphasises the importance of employer branding. A staggering 84% of job seekers find a new role within the first six months of beginning their search with almost half (49%) finding one in the first three months.
We’ve heard time and again that the onboarding process is key to retaining staff and the survey revealed that 95% of applicants attend fewer than five interviews during the selection process before securing a new role, while only 5% attend six or more. Employers need to ask themselves if five interviews are too many interviews because remember, while you’re interviewing a potential candidate, so are other employers.
Interestingly, more jobseekers use employer websites directly (57%) than job posting sites (54%), with only 12% working directly with recruiters. Professional networks (40%) and social media (26%) also play a role.
A Resourcing Partner at GM&T commented: “If a business effectively builds its reputation, their dream candidates will soon start knocking on their door. And while this takes time, it’s a worthwhile investment that will ensure relevant, high-quality candidates, while helping to lower an organisation’s recruitment overheads in the long-term too.”