Personnel Today
  • Home
    • All PT content
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • Brightmine
    • Learn more
    • Products
    • Free trial
    • Request a quote
  • Webinars
  • Advertise
  • OHW+

Personnel Today

Register
Log in
Personnel Today
  • Home
    • All PT content
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • Brightmine
    • Learn more
    • Products
    • Free trial
    • Request a quote
  • Webinars
  • Advertise
  • OHW+

Latest NewsEconomics, government & businessHR strategyLabour marketSkills shortages

Improving UK economy will lead to ‘talent exodus’

by John Eccleston 5 Jun 2013
by John Eccleston 5 Jun 2013

Employee turnover is predicted to increase significantly as the UK economic outlook improves.

This is according to the results of a study published today by management consultancy Hay Group, in conjunction with the Centre for Economics and Business Research (CEBR).

The study found that after years of subdued employee turnover, levels of turnover will increase sharply in the next two years, and in 2015 it is expected that there will be 765,000 more departures than in 2012.

This growth in turnover rates is forecast to continue over the next five years, and in 2018 there will be more than a million more people leaving their roles than in 2012.

Chris Smith, a consultant at Hay Group, said: “People have been reluctant to leave their current role due to the turbulent labour market associated with the economic downturn, government spending austerity and the Eurozone crisis.

“But as conditions improve, dissatisfied workers pose a significant flight risk for organisations of all shapes and sizes in the UK. Recognising and then meeting the needs of the workforce will be key to retaining talent in the next few years.”

The study also highlighted significant talent shortages in the UK, with 12% of organisations citing this as a reason for limited production. This is one of the highest levels in Europe and well above the 4% observed in Germany.

According to Hay Group, approximately a quarter of new jobs created over the next five years will require science- and technology-based skills, but there is a shortage of people with these abilities. This will intensify demand for employees who possess these skills, challenge retention efforts and drive turnover higher.

To identify the key factors affecting employee retention, Hay Group conducted a detailed analysis of their employee opinion database, which includes information from more than 5.5 million employees around the world.

The study research found confidence in leadership, opportunity for career development, autonomy, a supportive work environment and appropriate compensation are key factors in employee engagement and commitment.

Smith added: “With retention a growing concern, organisations must guard against the significant costs associated with hiring and training new employees, as well as potential talent shortages, by focusing on retaining key staff.

Sign up to our weekly round-up of HR news and guidance

Receive the Personnel Today Direct e-newsletter every Wednesday

OptOut
This field is for validation purposes and should be left unchanged.

“Robust succession planning processes and identifying and developing high-potential talent from within the business is now essential. Organisations also need to understand which key factors keep their employees engaged and respond accordingly, whether that be compensation, career development, confidence in leadership or other drivers of commitment.”

What is talent management and why does it matter? Visit XpertHR to find out.

John Eccleston

previous post
Occupational health’s role in preventing hearing loss
next post
Occupational Health research round-up: June 2013

You may also like

Performance management is broken: how can we rebuild?

11 Jul 2025

Gregg Wallace case: don’t be too hasty to...

11 Jul 2025

‘Replace sick notes with gym’, Streeting tells GPs

11 Jul 2025

Workers with second jobs at an all-time high

11 Jul 2025

How using data can transform return-to-office mandates

11 Jul 2025

Ministers loosen fire and rehire proposals in Employment...

10 Jul 2025

£188k tribunal award for director sacked after cardiac...

10 Jul 2025

It’s no secret – parity in the workplace...

10 Jul 2025

Firms’ salary secrecy means ‘they lose out on...

10 Jul 2025

Court of Appeal rules that Ryanair agency pilot...

9 Jul 2025

  • Empower and engage for the future: A revolution in talent development (webinar) WEBINAR | As organisations strive...Read more
  • Empowering working parents and productivity during the summer holidays SPONSORED | Businesses play a...Read more
  • AI is here. Your workforce should be ready. SPONSORED | From content creation...Read more

Personnel Today Jobs
 

Search Jobs

PERSONNEL TODAY

About us
Contact us
Browse all HR topics
Email newsletters
Content feeds
Cookies policy
Privacy policy
Terms and conditions

JOBS

Personnel Today Jobs
Post a job
Why advertise with us?

EVENTS & PRODUCTS

The Personnel Today Awards
The RAD Awards
Employee Benefits
Forum for Expatriate Management
OHW+
Whatmedia

ADVERTISING & PR

Advertising opportunities
Features list 2025

  • Facebook
  • Twitter
  • Instagram
  • Linkedin


© 2011 - 2025 DVV Media International Ltd

Personnel Today
  • Home
    • All PT content
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • Brightmine
    • Learn more
    • Products
    • Free trial
    • Request a quote
  • Webinars
  • Advertise
  • OHW+