UK businesses risking talent exodus
UK employees plan on voting with their feet if changes to their role aren’t made by their current employers, research today reveals.
The study, by e-gift provider Prezzee, found that almost a third (32%) of employees would consider leaving their job, the equivalent of 10.6m British workers.
The research found that 81% of respondents were looking for changes to their role for 2025 which included; 26% wanting an improved work / life balance, followed by more flexibility (17%) and increased recognition (12%).
It appears workers don’t want to wait until 2025 for changes to be made though. When asked what one gift they’d appreciate the most from their employer this Christmas, almost 20% wanted additional time off over the holiday period, just behind receiving a financial token or gift voucher (26%), a clear sign that the cost of living is still leaving workers feeling the pinch.
There was a clear drop off when it comes to short-term gestures though, with a tenth (11%) hoping to receive a Christmas hamper or food gift, while just 9% would appreciate a Christmas party.
The data suggests more autonomy in the workplace is central to achieving a balance in the eyes of UK employees, although attitudes towards this vary when considering different age groups. Work / life balance is most highly sought after by millennials aged between 25 – 34, and flexibility is prioritised by 1 in 4 of 35-44 year olds, whereas over 55s are most likely to feel they’d change nothing about their current role.
James Malia, global chief growth officer and European president at Prezzee, says, “With the holiday season fast approaching, businesses should be considering what changes need to be made in the new year. Our data highlights just how vital that is, with a third of the workforce apparently considering changing employers come 2025. While the reasons for this will vary, what is clear is there’s an appetite for more of a focus on work / life balance, additional time off over the holiday period and financial gestures to show appreciation.
“While these figures will no doubt worry many business leaders, they should take solace in the knowledge that the necessary changes aren’t hard to implement. Listening to what the team is actively calling out for will go a long way to show their wellbeing is front of mind. That, alongside showing employees you care with regular rewards and recognition for going above and beyond, should be the focus for decision makers as we approach the new year.”
