[UK] Feeling underpaid and undervalued, 24% of employees seek new job

In the UK, new research shows that nearly one in four employees plan to change jobs within the next year, with low pay and lack of recognition cited as the main reasons they feel undervalued and unappreciated, London Loves Business reports.

The HR and payroll software firm Ciphr surveyed 2,000 UK employees and found that 24 per cent are either actively job-hunting or planning to change roles in the coming months.

Learning that a quarter of employees are preparing to change jobs underscores the urgency with which organisations need to address workforce churn and employee dissatisfaction.

The urge to seek a new job is reportedly strongest among employees under 45. Nearly a third (32 per cent) of workers under 34 said they were looking, or planning to look, for a new role, closely followed by 30 per cent of 35 to 44-year-olds.

Just 22 per cent of 45 to 55-year-olds reported considering a move, while the figure fell to 14 per cent among those aged 55 to 64, and just 7 per cent for employees over 65.

Women were reportedly slightly more likely than men to cite low pay as a motivating factor, with 37 per cent stating that they felt underpaid compared with 34 per cent of men. 

A lack of recognition for contributions was cited by 24 per cent of those seeking a job change, making it the joint second most common reason for wanting to leave. A gender gap appeared here too, with more than one in four women (28 per cent) saying that feeling undervalued was a major reason for seeking a new job, compared with 17 per cent of men.

Limited career progression was another motivation for change. Almost a quarter of female respondents (24 per cent) said they were looking for better promotion or management opportunities elsewhere, showing the link between clear advancement pathways and talent retention.

Improving engagement and progression pathways could reportedly have as significant an impact as pay rises to halt further turnover over the next year.

Claire Hawes - chief people and operations officer at Ciphr - said, “These findings should be a wake-up call for employers. Around a third of workers under 45 want to switch jobs, with many saying they’re feeling underpaid and undervalued. That’s highlighting problems that are very fixable. People aren’t leaving because they hate the work… they’re leaving because they don’t feel recognised or seen.

“These things can’t be fixed overnight, however, and need a deliberate and sustained effort to improve over time. Employers would benefit from identifying the two or three things they can do in the next year and creating tangible plans that they can communicate to their workforce about how they plan to change and improve their pay and recognition models. For example, audit your pay – you don’t need to match market rate overnight, but you should understand where the gaps (and risks) are, and be honest with your people about your pay strategy and plans.

“Think about how you can better build recognition into the rhythm of your business – not as a one-off initiative, but as a management culture. Recognition is all about acknowledging someone’s contributions and giving credit. People want to know that their employer appreciates and values them. It doesn’t always need to be big financial gestures. Internal shout-outs, an early Friday finish, or a coffee voucher can have a big impact. Aim for frequent, consistent and genuine recognition.

“And, finally, ensure there’s space for career conversations. One in five people who are planning to leave are doing so because they can’t see a future career path. Work with them to ensure they are being heard and that they understand what career options they have inside your organisation.

“Retention is rooted in getting the basics right: fair pay, genuine recognition, and a credible career and growth story that employees can buy into.”

Source: London Loves Business

(Quotes via original reporting)

In the UK, new research shows that nearly one in four employees plan to change jobs within the next year, with low pay and lack of recognition cited as the main reasons they feel undervalued and unappreciated, London Loves Business reports.

The HR and payroll software firm Ciphr surveyed 2,000 UK employees and found that 24 per cent are either actively job-hunting or planning to change roles in the coming months.

Learning that a quarter of employees are preparing to change jobs underscores the urgency with which organisations need to address workforce churn and employee dissatisfaction.

The urge to seek a new job is reportedly strongest among employees under 45. Nearly a third (32 per cent) of workers under 34 said they were looking, or planning to look, for a new role, closely followed by 30 per cent of 35 to 44-year-olds.

Just 22 per cent of 45 to 55-year-olds reported considering a move, while the figure fell to 14 per cent among those aged 55 to 64, and just 7 per cent for employees over 65.

Women were reportedly slightly more likely than men to cite low pay as a motivating factor, with 37 per cent stating that they felt underpaid compared with 34 per cent of men. 

A lack of recognition for contributions was cited by 24 per cent of those seeking a job change, making it the joint second most common reason for wanting to leave. A gender gap appeared here too, with more than one in four women (28 per cent) saying that feeling undervalued was a major reason for seeking a new job, compared with 17 per cent of men.

Limited career progression was another motivation for change. Almost a quarter of female respondents (24 per cent) said they were looking for better promotion or management opportunities elsewhere, showing the link between clear advancement pathways and talent retention.

Improving engagement and progression pathways could reportedly have as significant an impact as pay rises to halt further turnover over the next year.

Claire Hawes - chief people and operations officer at Ciphr - said, “These findings should be a wake-up call for employers. Around a third of workers under 45 want to switch jobs, with many saying they’re feeling underpaid and undervalued. That’s highlighting problems that are very fixable. People aren’t leaving because they hate the work… they’re leaving because they don’t feel recognised or seen.

“These things can’t be fixed overnight, however, and need a deliberate and sustained effort to improve over time. Employers would benefit from identifying the two or three things they can do in the next year and creating tangible plans that they can communicate to their workforce about how they plan to change and improve their pay and recognition models. For example, audit your pay – you don’t need to match market rate overnight, but you should understand where the gaps (and risks) are, and be honest with your people about your pay strategy and plans.

“Think about how you can better build recognition into the rhythm of your business – not as a one-off initiative, but as a management culture. Recognition is all about acknowledging someone’s contributions and giving credit. People want to know that their employer appreciates and values them. It doesn’t always need to be big financial gestures. Internal shout-outs, an early Friday finish, or a coffee voucher can have a big impact. Aim for frequent, consistent and genuine recognition.

“And, finally, ensure there’s space for career conversations. One in five people who are planning to leave are doing so because they can’t see a future career path. Work with them to ensure they are being heard and that they understand what career options they have inside your organisation.

“Retention is rooted in getting the basics right: fair pay, genuine recognition, and a credible career and growth story that employees can buy into.”

Source: London Loves Business

(Quotes via original reporting)