A big majority of UK professionals are more and more reluctant to alter jobs, with 71% expressing hesitation attributable to considerations over job safety, in line with a current ballot by international recruitment agency Robert Walters.
This pattern, which the agency has dubbed ‘The Big Stay,’ means that many staff are prioritising stability over profession development, a selection that might have wide-ranging implications for each their skilled futures and the broader financial system.
The survey highlights that three-quarters of respondents take into account job safety as a key issue when evaluating new alternatives, with 16% admitting that worry of insecurity in a brand new function has utterly deterred them from making use of.
Chris Eldridge, CEO of Robert Walters UK & Eire, contrasts this with the wave of ‘The Great Resignation’ just some years in the past, when professionals had been altering jobs at document charges, lured by greater beginning salaries. He notes, “While there was initial concern about ‘The Big Stay,’ this may be a short-lived phenomenon as market confidence appears to be rebounding post-election.”
Eldridge warns that staying in a stagnant function may hinder each particular person profession improvement and financial dynamism. “Economic growth relies on labour mobility. Organisations need fresh perspectives to remain competitive, and employees who shy away from new opportunities risk stagnating in their careers. Statistically, those who change jobs more frequently tend to earn more over their working lives.”
Shift in Priorities
The findings additionally reveal a notable shift in skilled priorities. A big 77% of UK staff now rank job safety above wage, with 16% indicating that this concern has solely lately come to the forefront of their minds. Employers have seen this shift as properly, with 74% stating that candidates are more and more elevating the problem of job safety throughout the recruitment course of.
Financial components are a significant driver of this pattern, with over two-fifths of respondents citing the state of the financial system as an important consideration of their resolution to maneuver roles. Inflation, unemployment charges, and GDP development are among the many prime considerations influencing their hesitancy.
Eldridge acknowledges the pressures dealing with professionals, noting, “Even when a company can offer job security, the current economic climate is causing many to delay making significant life or career changes.”
Firms Battle to Entice Expertise
The report additionally sheds gentle on the challenges dealing with employers, with 79% of hiring managers observing a rise in candidates declining job presents in 2024. The first causes cited are wage expectations or cultural match, adopted by considerations over firm safety and job stability.
In response, 75% of firms have adjusted their recruitment methods to handle these considerations. These changes embrace being extra clear about development plans and brazenly discussing business challenges. Nevertheless, solely 13% of companies are candid about their monetary efficiency throughout the recruitment course of, fearing that such transparency would possibly deter potential hires.
However, some firms are recognising the worth of transparency. Over a 3rd now declare to be very clear about their monetary well being and long-term plans, with 1 / 4 nonetheless choosing a extra guarded strategy.
Eldridge concludes, “While companies may hesitate to disclose financial details or challenges, my experience shows that transparency often helps secure the right candidate—those who are not only undeterred by these challenges but are also eager to contribute solutions.”
