UK businesses face huge staff turnover problems as links between employees and employers break down, a report has revealed.
The report, Corporate Warming, by Adecco and the Institute of Employment Studies has found that 45% of employees will leave their company in the next three years, attracted by better salaries, more security and better career progression and challenges elsewhere.
Rene Schuster, Adecco Group country manager, said: “The labour market is changing and self-starting employees are demanding more from companies and it is up to businesses to realise this and close the gaps in employee management.
“We know from past research that 40% of UK employees surveyed have applied for a job or registered with a recruitment agency in the past 12 months. If businesses don’t start engaging with their employees on the issues central to them, they will ultimately vote with their feet and leave.”
Findings show that fewer than four in 10 businesses undertake employee satisfaction audits to gauge motivation and only a quarter appear to examine vital attrition data.
Peter Reilly, director of HR and research consultancy at the institute said: “A strong labour market creates choice and freedom for employees. This leaves employers vulnerable, if people management falls through the management cracks, to increased turnover and labour costs, unproductive workers and the risk of not quickly replacing highly valued employees.”