A survey produced from ILM (Institute of Leadership and Management) has shown an extreme rise in employee turnover from 2014, with 37 percent of workers in the UK intending to leave their job in 2015. This shows a rise of 18 percent from last year’s figures and 24 percent rise from 2013. An additional 31 percent are undecided on whether to look for a change in career. This could affect you as an employer in the immediate future. To help prevent this issue arising within your workplace, ensure you work with Human Resources to be up to date with pay packages, benefits, flexible working, bonus structures and review these annually.
Pay rise is not all employees are looking for this year. Looking at the survey of more than 1,000 UK workers and managers; 59 percent of participants would like to see development opportunities, with 56 percent hoping for a salary increase and 50 percent state that a more appealing job role would make them consider changing jobs. Paying attention to your employee’s personal requirements and offering flexibility can help with all of this. Ensure staff appraisals are carried out regularly allowing you and the employee a clear overview of where they are headed and how they can get there and in between making sure they are comfortable with approaching the relevant staff member with any career queries.
Findings from the survey also tells us that the feeling of being undervalues by management is on the increase, resulting in 25 percent intending to leave due to this. Don’t let yourself fall into this category. Let your staff know they are valued with praise and recognition, this could be a simple email on completion of a specific task or monthly updates detailing achievements by individuals/teams/departments.
ILM chief executive has said that employees considering a change in employment is more popular in January.
“With an improving economy and more fruitful job market, it is important that employers realise that it’s likely they will have to work harder to keep their talented employees,” he said. This means prioritising managing the talent pipeline within the organisation to make sure staff have opportunities to develop and progress.”
Better management would persuade nearly a third of employees looking for new jobs in 2015 and 27 percent of respondents would like the opportunity to train and develop their career.
“All staff want to feel that they are appreciated by their organisation so it’s crucial that companies actively recognise the efforts and talents of their employees,” Charles said.
“Companies may want to adapt to this new improved climate, by acknowledging where staff have excelled and molding opportunities for them to advance.”
For more information or help with any of the above please do not hesitate to contact Solve.