The leading Recruitment and Employment Technology Company, CareerWallet has recently published an extensive workplace survey to give a true overview of working life in the UK and how the jobs market is being impacted by economic factors including the cost of living.
The report has highlighted as employees across the UK are being impacted by the cost-of-living crisis over a third (34%) admit they are looking to move jobs in the new year which amounts to over 10 million employees in the UK.
Millions of Brits are totally fed up with being “underpaid” and their concerns can fall on deaf ears of their employers, with more than 10 million fed up workers quitting, this will cost those companies far “more in the long run.”
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This huge shift is being driven predominantly by individuals looking for higher salaries as 37% admit they want to leave because they feel they are not paid enough.
The extensive survey also showed other reasons so many employees are looking for a new role with contempt for colleagues (23%), negative culture (20%) and disliking line managers (18%) topping the list and driving the surge for new roles.
With over 1.2 million roles available in the UK from Aug to Oct this year, plenty of options are going to be available for employees in the new year.
The results however should be concerning for employers across the UK as nearly a third of the workforce is unhappy in their current role and losing key employees can have huge impacts on businesses, especially with vast skill shortages across many industry sectors.
Craig Bines, CEO of The CareerWallet Group said, “Our new workplace survey highlights how many employees are struggling financially at the moment as rising bills and inflation start to bite.
“For many employers, losing key members of staff by underpaying them can end up costing the firm much more in the long run.
“Recruitment is tough at the moment and finding the right employees can be hard so businesses need to look after employees more than ever.
“As we can see many candidates will be looking to move jobs, especially in the new year and in this buoyant job market, plenty of roles are available. At CareerWallet we have millions of vacancies available across the UK so it is an ideal time to register and find your next position.”