A recent National Employee research survey, commissioned by The Employee Awards, reveals that 52 per cent of employees across both private and public sectors, will be searching for new employment in 2018.
So what has brought about this level of disenchantment amongst UK employees? There appear to be several key factors at play in this dire situation.
Over the last decade real wages have not even matched inflation, which is not surprising given the fact that over the last 10 years productivity has increased by an abysmal 1.4 per cent over the whole period.
Recent research shows that UK productivity currently lags 15 per cent below the average achieved by our EU competitors.
Many economists point to low levels of capital investment in general, and new technology in particular, being to blame.
This is undoubtedly a contributory factor, but the new National Employee research Report points to the lack of attention to the human dimension being the main reason driving low productivity, creating a negative circle of low wage increases and diminished profits.
A key factor emerging from the Report is the lack of recognition felt by employees from their employers and their managers. Specifically, over 90 per cent of employees said that recognition was important to them, yet 55 per cent of employees felt that they were neither recognised nor appreciated by their employers. Further, 62 per cent of employees stated that they were hardly ever or never appreciated by their boss.
It is generally acknowledged that the people that companies and public sector organisations employ are their most important asset, which, with strong leadership, can motivate a workforce to achieve exceptional results.
There are undoubtedly a number of progressive companies and public bodies which provide exceptional examples of a culture which engenders high levels of recognition and motivation amongst their employees. Sadly such organisations are in a minority.