On the Move
48% of Scottish workers are set to search for a new job as confidence grows and businesses face disruption and costs to replace dissatisfied staff as economy improves, a new report commissioned by Investors in People claims.
Businesses in Scotland need to invest in their people or face a potential exodus of staff, as a combination of work dissatisfaction and more confidence in the job market means that almost half (48%) of workers are considering moving jobs in the next year. Research** conducted by Investors in People (IIP) reveals that over a third (34%) of people working in Scotland feel that the job market in their sector has improved in the last year.
With 28% of Scottish workers describing themselves as unhappy in their jobs and the economy creating more opportunities, IIP is calling on Britain’s businesses to take action now to avoid losing talented staff, and having a costly bill to replace them.
As the economy recovers, the figures suggest that many Scottish workers have been ‘laying low’ in jobs they are not happy with due to a fear of job insecurity. A quarter of workers say that if the economic situation had been better a year ago, they would have looked to move job sooner.
The survey showed that workers in Scotland are looking to be valued, not just to have higher wages, with 64% stating that greater job satisfaction is their main incentive for moving, ahead of pay (49%). 61% said that bad management is a leading cause of their unhappiness at work, and 31% of employees feel that their skills and talent would be better valued elsewhere.
Peter Russian, Chief Executive of Investors in People Scotland commented: “The end of the recession is good news for businesses. Financially, we are in more stable times and recent figures from the Office for National Statistics show unemployment is at a three year low of 7.6%.
“However, an upturn in the economy means that dissatisfied workers now have more confidence to look elsewhere, so business owners who aren’t doing all they can to value their staff can no longer be complacent. Our research suggests that many Scottish workers have been biding their time during the recession and not actively looking for a new job. However, as the job market improves, companies who don’t value their staff risk losing them to rivals and having to spend time and money recruiting and training replacements. Now is the time for businesses to take action to retain their talented people.”
The survey shows that a good reputation as an employer is attractive to potential new employees, with almost half (49%) citing this as one of the main factors they look for when job searching. Scope for career development and investment in training was also highlighted by 44% of those questioned.
IIP is the UK’s leading tool for business improvement through people management, and provides a wealth of resources for businesses to innovate, improve and grow, with a focus on good people making great business. IIP provides resources and insight to help businesses get the best from their people.
IIP is also a leading partner, alongside the CIPD, CMI, CIMA and RSA, in the recently launched Valuing your Talent initiative, a major new research and engagement programme which sets out to link investment in staff with a company’s bottom line.
For more information on Investors in People, please visit: http://www.investorsinpeople.co.uk/
For more information on Valuing your Talent, visit http://www.cipd.co.uk/hr-resources/valuing-your-talent.aspx
**Research carried out by Censuswide. 2036 full time employees in the UK were surveyed online between 5-13 November 2013. 175 of these were from Scotland.