Home Business News Two-fifths of UK workers planning to jump ship this year, with money the main driver

Two-fifths of UK workers planning to jump ship this year, with money the main driver

by LLB Reporter
12th Jan 24 5:45 am

Two-fifths (40%) of the UK workforce are planning to move jobs in 2024, with one in six already beginning their search as staff look to boost their pay packet. That’s according to the latest Candidate Sentiment Survey statistics produced by specialist recruitment firm Robert Half.

While this figure is lower than the 47% planning to move jobs this time last year, these statistics demonstrate the resilience of the labour market as more candidates look to capitalise on skills shortages to boost earnings. Those aged 18-34 are more likely to move roles than any other age group (56%).

According to the data, salary remains a key driver of job moves – 45% of workers want a higher salary with a third (32%) of job seekers saying they would consider a counteroffer. However, flexible working prominence remains, with 29% stating that they want more agile working arrangements.

Half (50%) of workers also indicated that they wouldn’t work for an organisation with values that don’t match their own – with 63% of job seekers also saying that a company’s values would steer their decision to move jobs if similar salaries were on offer.

The statistics also revealed that London is set to witness the greatest talent exodus of all regions, with 56% of workers in the Capital planning a job move – with almost a quarter (23%) already looking for a new job. The West Midlands saw the second highest numbers (45%) followed by Yorkshire and Humberside (42%)

Matt Weston, Senior Managing Director UK & Ireland, at Robert Half at Robert Half, said, “The UK’s labour market has faced significant challenges and upheaval over the last few years, but the sentiment of candidates remains resilient.

“The combination of skills shortages and a cost-of-living crisis is causing some employees to jump ship for a pay boost, with the younger generation leading the way.

“While there has been a slight slowdown in planned job moves, this latest data shows that people are still confident in their ability to find new employment opportunities this year.

“What is certainly of note for employers, though, are the figures related to non-financial incentives. With workers indicating a desire for not only flexible working options but also a synergy between their values and those of their employer, firms will need to be able to offer more than just a salary boost if they are to source the right resources on a long-term basis.”

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