Almost a Quarter of Employees are Actively Job Hunting
If you find that you are updating your CV after you get home from work and logging on to job search websites and mobile apps during your commute, you are not alone. Almost a quarter of employees are actively job hunting, according to the autumn 2013 Employee Outlook report, produced by the Chartered Institute of Personnel and Development (CIPD) in partnership with Halogen Software. Compared with this time last year, when 20% of employees were actively seeking alternative work, there is a marked increase in the number of employees looking to move on in their careers.
Why are employees looking for new jobs?
The number of workers searching for a new job reached a two-year high in autumn 2013. In the spring 2013 edition of the CIPD Employee Outlook report (PDF), only 21% of employees reported that they were job hunting. In the winter 2012 and spring 2012 editions, the figure was 20%. What is inspiring employees to dust off their CVs and search for a new job now?
The increase in job seeking coincides with figures from the Office for National Statistics (ONS) which suggest that unemployment is falling and the economy is showing signs of recovery. This could, in turn, be giving employees the confidence to move on. When workers are uncertain about the economy and worried about job security, there can be a tendency to sit tight and wait out the storm. Now that blue skies seem to be appearing on the horizon, we are likely to see increased movement within the job market.
Employees may also be dissatisfied with their current employers after years of wage restraint and a lack of opportunities for career progression. During the recent recession, employees experienced wage freezes and below-inflation salary increases. The result has been a drop in the value of their take home pay for many employees. They may be seeking to rectify the position by moving into higher-paid employment.
What does this mean for employers?
With 24% of employees seeking alternative employment, employers need to focus on staff retention policies. If employers do not engage and develop their top talent, they risk losing some of their best employees to their competitors. The CIPD suggests that the key to retaining and motivating employees is skilled line managers, who can recognise the contribution that employees make to the business and help them feel valued.
What does this mean for employees?
For employees, the news that there is increased interest in job search signals the possibility of exciting new job opportunities becoming available. Now is the time to update your CV and refresh your interview skills. If you are unsure how to create a CV that will catch the eye of potential employers, contact Essential Personnel and speak to one of our consultants who will be happy to assist.
If you would like to find out whether job opportunities are opening up in your area, log on to Essential Personnel. You can browse job vacancies and find out what is happening in the local labour market.
Steven Pearson has extensive experience in recruitment. He enjoys sharing his ideas with newcomers to the job market through blogging.