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Employers face high staff turnover in 2014, survey suggests

Employers face high staff turnover in 2014, survey suggests

Employers face high staff turnover in 2014, survey suggests

Work/life balance a priority for employees in the New Year

A fifth of employees plan to quit their job this year, according to a survey from the Institute of Leadership and Management (ILM).

The study, of 1,001 workers, found that of the staff who are preparing to change job, 16% want to leave because they do not feel valued.

Of this group, the vast majority would like a similar job (40%) or a different post (39%) at a new company, while one in 10 would like to start their own business.  

However, in addition to the fifth of workers planning to leave, a further 31% are unsure about whether they will stay in their current role, suggesting employers face a high staff turnover in the coming months.

Charles Elvin, ILM’s chief executive, said: “The New Year is always a popular time for workers to look ahead and think about how they can progress. Our findings show that UK employees are beginning to reassess the job market and look into a range of new opportunities, from starting a new job to developing a new business.

“The survey illustrates just how crucial it is that workers feel valued in the workplace. As many workers like to make a change at this time of year, it is important that organisations adapt to this phase by offering the chance to learn new skills and opportunities to progress wherever possible.”

The survey also asked employees about their workplace resolutions for the New Year. Most respondents (31%) said improving their work/life balance was a top priority for 2014, this was closely followed by a desire to receive more training or attain a new qualification (28%), to become a better manager (13%), and be more productive at work (11%).

The ILM said that the findings revealed a desire to improve the standards of leadership in organisations, with 19% hoping to improve their own leadership skills this year and 17% hoping for more transparent leadership from their boss.

“The survey reinforces the importance of leadership to workers in the UK, and in particular the desire for greater transparency in the workplace,” Elvin added. “This should be an important consideration for both current managers and those looking to improve their leadership skills.”

Petaurum Solutions’ Comment

This ILM survey not only highlights the importance of good leadership and management, but also the importance of work / life balance and making employees feel valued.  In an increasingly competitive market and with the economy showing some signs of recovery, now is the ideal time for businesses to look at their People Strategy and practices.  From a bespoke Employee Benefits Scheme that can help increase productivity, enhance retention and reduce sickness absence through to specific reward interventions such as a share save scheme, there are many ways in which investment can be targeted to meet strategic business outcomes and more importantly, generate a return on the investment.  With many years of experience in HR, contact us at Petaurum Solutions to find out how we can help.

This information is intended as a general overview and discussion of the subjects dealt with. The information provided here was accurate as of the day it was posted; however, the law may have changed since that date. This information is not intended to be, and should not be used as, a substitute for taking legal, HR or benefits advice in any specific situation. Petaurum Solutions is not responsible for any actions taken or not taken on the basis of this information. Please refer to the full terms and conditions on our website.

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Article by Petaurum Local

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