An employment survey makes interesting reading as it covers the reasons cited by employees for staying in their current job and what it would take to make them move to a new position.
In the third annual survey of its kind, inadequate compensation was the most popular reason for leaving a job.
Other reasons for leaving included, lack of career advancement, insufficient recognition, inadequate professional development and boredom.
As for why people want to stay in their jobs, the top reasons were good relationships between coworkers, desirable working hours and attractive benefits.
Employees are much more ready to look for new positions but require more compensation than employers believe. 50% of employers believed a salary increase of 8-15% was enough for an employee to move but only 31% of employee said that this would be the case but for 38% employees it would take a increase of 15-30% before they would move to a new position and 17% said the increase would have to be even larger than 30%.
Dispite this loyalty, the amount that employers would offer in a pay increase to retain a member of staff was willing to offer was just 7%. Only half of employers sometime make an offer to retain staff, while 35% say they never do. Quite surprising considering the cost of finding a replacement member of staff is more than £13,000.
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