The ‘talent drought’, a term which has recently become synonymous with hiring in the Shipping and Shipbuilding industries, could, in fact be quenched by employees appetite to switch jobs.
According to research by The ADP Research Institute (ADPRI), 70% of UK employees are open to leaving their job, with nearly a quarter (24%) actively looking for new opportunities and nearly half (46%) passively looking.
The motivation isn’t necessarily for a lucrative pay rise, often cited as a motivation to switch jobs by head hunters and Hiring Managers, as employees only demand a salary increase of between 10% to 12% to switch jobs.
ADPRI reached these results after surveying over 8,500 employees and employers across 13 countries, in companies with more than 50 employees for their report, The Evolution of Work 2017.
“Of course pay and work hours play an important role in retaining employees, but meeting employee expectations is key,” adds Ahu Yildirmaz, co-Head of the ADP Research Institute. “Employees say they are more likely to stay with a company if their experiences are aligned with the expectations agreed to when hired – and if they understand how their role helps to achieve business goals. But when a position shifts away from that understanding, employees are already thinking of leaving.”
This is why transparency is so important, as it can result in longer, better, hires. And with almost four out of ten jobseekers turning down their first job offers, it’s incumbent on hiring managers to provide (and stick to) a detailed employment package, or risk finding themselves on the turnover treadmill, in a vicious cycle of recruiting outgoing talent which can have serious implications for delivering projects and operations.