A light bite, full of figures to kick off January in style!
Recent studies carried out by Employee benefits giant Pluxee UK, tell us that over one-third (37%) of employees in the UK would happily reassess their decision to change jobs if their existing employer presented enhanced financial benefits and incentives. Additionally, 17% would reconsider their job change decision based on the presence of established flexible working policies
Despite record-low unemployment in the UK, labour shortages continue to affect the job market, leading to increased wages and giving employees greater influence over prioritising their salaries, benefits, and well-being. In this scenario, recent research highlights that while 72% of UK employees are content with their current work conditions, nearly half (49%) are inclined to actively explore new job opportunities in 2024
The inclination to seek new employment is notably high among individuals aged 18-24, with 63% expressing this intention, and those aged 25-34, with 66% planning to explore new roles. This trend is especially pronounced in these age groups, namely Generation Z and Millennials, as they embark on milestones like purchasing their first homes and starting families. Financial well-being and work-life balance take precedence for these generations over other considerations.
In general, when asked about factors that might sway their decision to change jobs next year, over a third (37%) of UK employees pointed to enhanced financial benefits and incentives, while 17% emphasised the importance of confirmed flexible working policies. Given the ongoing cost-of-living challenges faced by UK workers, many are seeking additional income to meet daily expenses. Against a backdrop of stressful work environments and economic uncertainty, employees are prioritising their well-being by dedicating time to family, personal activities, and self-care.
The information aligns with the priorities that UK employees believe HR teams should focus on in the next 12 months. A significant portion, 44% of respondents, emphasises the importance of having robust reward and recognition programs. Additionally, close behind are priorities such as prioritising employee health and well-being (40%) and establishing fixed flexible working policies (38%). This suggests that employees value initiatives that recognise their contributions, support their health, and provide clear guidelines on flexible work arrangements.
In conclusion, the data underscores the pressing concerns and aspirations of UK employees, urging HR teams to prioritise reward and recognition programs, employee health and well-being, and clear flexible working policies in the coming year. As organisations navigate the evolving landscape of work, addressing these key areas will not only enhance employee satisfaction but also contribute to a resilient and forward-thinking workplace culture.
Thanks for reading
LM