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How to diffuse the job exodus time bomb
Britain is sitting on a ticking time bomb. For 14 million workers across the country, the brightening economy has sparked an urge to move on. Our recent Investors in People survey found that around 47% of UK employees are considering moving jobs this year.
That's nearly half of all workers fired up by the idea of a new job – a job where they feel happier, better managed and satisfied in their roles. Nearly a quarter of employees surveyed said if the economy had been healthier a year ago, they would’ve started looking around, with 24% of respondents actively describing themselves as unhappy at work. 47% blamed bad management as the motivation to move and 34% felt their skills would be better valued elsewhere.
So how do you make sure you’re not one of the businesses that loses out, as people flick the switch on a new start?
Start by listening
Making sure your teams feel valued can be as simple as sharing the bigger picture and inviting them to contribute their thoughts and opinions regularly. Effective, engaging team meetings are a good place to start.
Help them grow
46% of employees explained that scope for career development and investment in training would encourage them to stay put. Look at your training and development opportunities and invite your people to suggest areas for improvement. You could also introduce individual development plans, where people identify the skills they need – or want to develop – set against their objectives. It’ll make your people feel a sense of personal progress, while building new skills in your team will benefit your business too.
Make them proud
Working for a business you’re proud of is a real motivator. 53% of those surveyed said a good reputation was an important factor in choosing an employer. A strong creative vision for your organisation – which your people feed into and feel part of – can work wonders. It can form the basis of individual objectives, help focus activities and remind people of the positive future you’re all working towards. A sense of common purpose and a clear direction of travel is something everyone can be proud of.
Keep them satisfied
With 63% of people stating job satisfaction as the main incentive for moving, or staying, in a job, ensuring your people feel fulfilled is paramount. Make sure individuals know what’s expected of them, work with them to set objectives and involve them in the shape and structure of their review process. If people have clear goals to work towards and an understanding of how those goals feed into the bigger picture, they’re sure to feel more satisfied.
Say thank you
If your people are happy and feel valued, it’s more likely they’ll stay put. Incentives and rewards of all shapes and sizes can make a real difference. By establishing the performance ‘markers’ for each individual, choosing appropriate incentives for achievements and treating each person without bias you can create a scheme that measures up and gets results – for everyone.
Take this further:
For more tips and advice on how to make sure your business is the place where people want to be, check out our Resources library, packed full of tips and templates to get you ahead of the game.
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