Dissatisfaction, stress also factors: CIPD survey
Improving pay may be the top reason people move jobs but employers that neglect concerns about trust in senior leaders, stress in the workplace or job satisfaction risk losing their top talent, according to a survey of 2,068 employees in the United Kingdom.
Employees are much more likely to be among the 22 per cent currently looking for a new employer if they express low trust in their senior managers, are dissatisfied with their job or are under excessive pressure every day, found the Chartered Institute of Personnel and Development's (CIPD’s) quarterly Employee Outlook survey.
Nearly one-half (47 per cent) of employees who strongly distrust their directors or senior management team are looking for a new job compared to eight per cent of workers who strongly trust their senior leaders. Only eight per cent of employees who are satisfied with their jobs are looking for a new employer, compared to 57 per cent of dissatisfied employees.
And people who face excessive pressure in their jobs on a daily basis are more than twice as likely to be looking for a new job (39 per cent) than those who experience excessive pressure once or twice a month (21 per cent), found the survey.
"With many organizations struggling to compete and survive, the issue of organization culture and values can take a backseat,” said Claire McCartney, resourcing and talent adviser at CIPD. “Some employers may also feel that they don't have to work as hard to keep their people because there are fewer opportunities in the labour market that will allow employees to jump ship. However, vacancies always exist for motivated and skilled staff and employers risk losing their most valued employees — those most able to compete in a tough labour market.
"Trust forms a key part of the employment relationship and if employees feel there is a gap between what directors say and do, or that there is a lack of transparency or fairness in terms of how people are recognized and rewarded, they are likely to feel disenchanted. The openness, quality and frequency of communication from the top is also critical to trust, as is the extent to which any consultation is meaningful and happens before decisions are taken."