A quarter of the British workforce is planning on quitting their jobs this New Year.
A YouGov survey, commissioned by Human Capital Management (HCM) software vendor Zynap, shows that the New Year is a time when firms are particularly vulnerable.
The survey of 2,030 employed people in the UK in Novemeber this year revealed that 59 per cent of the workforce is looking for new job opportunities, and a quarter of the working population say that the New Year period is a stimulator.
Career progression and pay are given as the two main reasons why people want to leave their jobs. Work-life balance is a close third. Astoundingly, the survey shows that 83 per cent of those planning to leave believe that their employer is not doing anything to address their reasons for leaving.
Chris Macklin, chief operating officer of Zynap, said: “The results of the survey come as no surprise to us. The knee-jerk reaction to the threat of losing talented people is often to pay more.
The survey shows that career development and work-life balance are highly significant factors,” he added. “This is yet more compelling evidence that firms need to focus still more on nurturing talent so that employees are convinced their next opportunity lies within the firm, not elsewhere.
“Firms that are not focused on these activities are costing themselves millions as they ‘gift’ their talent to their competitors.