A recent study conducted by PageGroup, a recruiter in the FTSE 250, reveals that the ‘great resignation’ trend is not short-lived, as nearly half of UK white-collar professionals are actively searching for new job opportunities or planning to do so in the next six months. The research, based on responses from 2,145 participants, further indicates that an additional 36% are considering a job change but are waiting for better economic conditions or the right opportunity to arise.
The survey revealed that only 10% of employees expressed confidence in staying in their current roles throughout the year. Surprisingly, even new hires were open to exploring new job opportunities if presented with the chance. More than a third of individuals who began their jobs in 2022 identified themselves as active job seekers.
Doug Rode, the managing director for Michael Page in the UK and Ireland, a subsidiary of PageGroup, cautioned about the current market conditions, stating:
“There is a lot of uncertainty and ambiguity, which is why we sought direct insights from workers and employers. The reality is that even satisfied employees may choose to leave if a more enticing opportunity arises. This is the new normal for employers.”
PageGroup CEO Nicholas Kirk highlighted the significant shift in the workforce’s emotional connection to work following the pandemic, stating:
“The collective sentiment among professionals has changed, with many adopting a more transactional perspective and prioritizing their own value.”
Kirk further emphasized that these trends observed in the UK align with the global experience.
According to Nicholas Kirk, it is evident that there has been a widespread reset in people’s attitudes towards their jobs. Factors such as work-life balance, competitive compensation, and promising career growth have become essential and non-negotiable for professionals. As a result, individuals are willing to leave their current positions in pursuit of these priorities elsewhere.
“These shifts in the workplace are not temporary or mere reactions to a turbulent period. Instead, they are transforming the dynamics of the workforce in a manner that will subtly yet significantly alter how businesses attract and retain their talent.”
The findings of the TalentTrends survey include:
- The resignation rate in 2022 was nearly three times higher than in 2021, with 44% of respondents indicating their intention to leave their current roles compared to 15% the previous year.
- Despite economic uncertainty, job seekers in the UK remain motivated to change jobs, with 53% expressing a higher likelihood of seeking new opportunities during a period of poor economic performance.
- Work-life balance and mental health considerations were prioritized by 76% of employees, surpassing both Europe as a whole (73%) and the global average (67%). However, salary was identified as the most crucial aspect of a job for 23% of respondents.
- Two-thirds of UK workers expressed satisfaction with their current workload, 59% with their salary, and 52% with their overall job satisfaction.