In the aftermath of the pandemic, the professional world entered a period of uncertainty known as the Great Resignation.
While 2023 brought a brief sense of calm, a new trend is emerging. A survey, engaging 1,836 individuals across the UK, gives insight into the dynamics of the workforce in 2024.
The survey found that 49 percent of workers in the UK expressed feeling “quite happy” in their current roles. Despite this contentment, a significant 40% are contemplating changing jobs in 2024. This raises the question: What’s driving this desire for new opportunities?
TOP MOTIVATORS FOR JOB CHANGES
- Advancement Opportunities: For 51% of respondents, the lack of personal and career development opportunities is the main reason for considering a job change. Especially in larger organisations, employees feel the pull towards other roles due to limited prospects for advancement.
- Salary Stagnation: Over 43% of individuals thinking about changing jobs haven’t seen a salary increase in the past year, emphasising the importance of financial recognition for job satisfaction.
- Flexible Working Preferences: The desire for improved flexible working arrangements is another significant motivator, reflecting a shift in expectations regarding work-life balance.
RISE IN SECONDARY EMPLOYMENT
A notable finding from the survey reveals that half of the professionals surveyed are either thinking about or have already taken on second jobs. This uptick in secondary employment is primarily driven by economic challenges, particularly impacting women aged 25 to 34 earning between £30,000-£35,000.
EMPLOYER RESPONSE TO FINANCIAL CHALLENGES
Encouragingly, the survey signals a positive shift in employer support to alleviate financial burdens. Currently, 54% of employers are offering benefits to ease the cost of living for their employees, up from 48% in the previous year. Especially notable is the initiative taken by large organisations, offering salary enhancements, flexible work options, and one-time payments or bonuses to support their workforce during uncertain times.
The surge in job changes underscores the importance for employers to adapt and proactively address the evolving needs and priorities of their workforce. As the Great Reshuffle continues, organisations that prioritise employee satisfaction and wellbeing are likely to navigate these shifts more successfully.
