29 July 2011 #Employment
In a turnaround from last year`s results, this year`s Employee Outlook Survey carried out by the Chartered Institute of Personnel and Development (CIPD) shows that when it comes to employees looking to move roles, over half (54%) of respondents feel the most important factor is salary and benefits. Job satisfaction was the second most important, with 42% saying it was their top consideration. The survey of 2000 employees is carried out on an annual basis.
Last year job satisfaction was the priority of most employees, with 61% citing this as the main reason for a move.
Ben Willmott, a Senior Public Policy Adviser at CIPD, has advised employers to focus on communicating the value of their total reward package to employees in order to retian them. He said ‘The survey shows the ongoing impact of the economic downturn in the workplace. Employees are feeling the squeeze as a result of pay freezes or low pay settlements that fail to keep up with inflation. Besides being more likely to want to leave for more pay elsewhere, workers with financial difficulties are also more likely to report being under stress at work and are typically less satisfied with their jobs."
Standards of living are also worsening for employees as prices rise and wages are frozen. Over 1/3 of respondents to the survey (36%) felt their standard of living had worsened over the previous six months, compared to only 29% the previous year. With prices for gas and electricity set to rise again over coming months, it would not be a surprise if this figure was even higher next year.