Home Business News Half of UK workforce willing to move jobs for better pay as cost-of-living continues to impact households

Half of UK workforce willing to move jobs for better pay as cost-of-living continues to impact households

by LLB staff reporter
15th Jun 23 10:23 am

Half of the UK workforce would be motivated to move jobs if better pay and benefits were on offer, that’s according to new research from leading independent provider of resourcing transformation and outsourced recruitment services, Omni RMS.

While the report, The Modern Candidate Experience: What does good looks like for applicants? shows that the cost-of-living crisis is influencing career moves for better remuneration, it did also reveal a desire for career progression opportunities, cited by 44% of respondents. This influencer was ranked higher than work from home or hybrid options, with just over a third (35%) of the 500 workers surveyed indicating that this would motivate them to move jobs.

Negative experience exacerbating skills shortages

The study also revealed that job seekers are unimpressed with their experience in the recruitment process, which will exacerbate the impact of skills shortages across the country. Issues around communication prevailed, with 33% of job seekers revealing that they could have had better feedback during the process while a further 31% added that the communication throughout the process required improvement.

Almost a third (28%) stated that their decision to accept a role will be influenced by how responsive an organisation was during the process, which suggests that employers are at risk of losing talent due to a lack of communication.

Louise Shaw, Managing Director, Omni RMS said, “Skills shortages prevail despite the slowdown in job numbers that is being noted by the Office for National Statistics.

“In fact, our recent research in conjunction with the CIPD (Chartered Institute of Professional Development) showed that 77% of businesses are struggling to attract talent. While the cost-of-living crisis is clearly influencing job moves for most of the workforce, inflating salaries isn’t a sustainable attraction approach for employers who are feeling the pinch themselves.

“Instead, a longer-term approach, which utilises other motivators of job moves – such as career development prospects – will not only reduce candidate churn by improving the process but will also deliver more impactful results.

“The fact that job seekers are making decisions to accept a new role based on the experience they have, while also highlighting the flaws of the process, suggests that change is needed – and soon.”

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