Staff still leave current roles for bigger wages
Employers are facing the worst candidate shortage on record but according to research from international recruitment agency Aspire, two thirds (65%) of people currently working are either searching for or are open to new roles. This will offer hope to hiring businesses.
Employers have, however, been advised to plan for a potential ‘great resignation’, which is likely to see existing workers move jobs if businesses aren’t able to meet the changing needs of staff.
Nearly 600 candidates working across a range of industries from creative to marketing, technology and sales, took part in the study which explored the key issues facing the labour market in the wake of the pandemic.
But this data also serves as an important reminder to businesses about the need to cater for employees’ evolving job requirements, in order to hold onto workers, explained Aspire founder, Paul Farrer: “Given the sheer number of job vacancies right now it’s crucial that employers have a plan in place not only to win this fiercely competitive war for talent but also to retain their current workers. As we have seen with the petrol crisis, an inability to secure talent can result in organisations ceasing to function.”
Paul Farrer made further comment: “Salary is often the first consideration for people when they are prompted, but it’s much more complex than that. The pandemic created a perfect storm. People who may have otherwise moved jobs in 2020 stayed put due to COVID-19 uncertainty. So 2021 sees two years’ worth of employees seeking change. Salary freezes and stalled promotional prospects in 2020 are also playing out. We are witnessing wage inflation across many sectors too, with employers having seen their staff leave for significant rises elsewhere.
“In this environment, smaller, independent organisations have the advantage over larger businesses to a degree. They benefit from agility and are able to move swiftly, make critical hiring and salary decisions there and then. But our research shows that it’s not all about the money. Flexible working policies, a clear and realistic progression path and a genuine commitment to diversity and inclusion have become increasingly important to jobseekers.”