January is the most popular month for planning a job change. In fact, 18% employees surveyed by Glassdoor said that this month is when they plan their next move – literally. So how can organisations beat the rush and retain valuable employees?
What do employees value?
To retain employees you need an understanding of what people value about their roles. A recent survey from Gocompare.com highlighted that time is more important than money. 68% of participants valued their time. 20% would ‘buy’ an average of eleven additional days’ holiday by taking a reduced salary.
Commenting on the research, Ella Hastings from Gocompare.com said, “For many of us, finding the right work-life balance can be a challenge – whether that’s spending too much time at work or looking after the home and loved ones. Time away from work and proper rest are important, so working more and having fewer holidays is unlikely to be a long term recipe for success for most people.”
Understanding the value of work-life balance won’t be enough to beat the rush of applications and updated CVs targeting new roles. You also need an appreciation of what tips people from wanting more time to consciously looking for their next job.
Why do employees leave?
Glassdoor has researched what issues tip people into resigning from their current employer. The results are very interesting.
Whilst 68% people value time over money, a low salary was the top reason for leaving a job. Even more interesting… the biggest group citing this reason was the 16-24 year olds (44%). This age group may not be the global relocation talent of today however organisations need to nurture these people for tomorrow. This group will be delivering long term business goals.
1. Low salary – 35%
2. Length of time in role – 23%
3. Boring work – 22%
4. Location/Commute – 20%
5. Dislike manager – 18%
6. Dislike culture – 14%
7. Poor benefits – 13%
8. Not confident in company direction
9. Dislike colleagues
“We find that people relish new challenges and this often involves working abroad,” says Kevin Wieczorek, Sales & Marketing Director of BTR International. “An international assignment offers a chance to explore a new country and lifestyle as well as an interesting job role. It would certainly address many of the major reasons why people leave their current roles.”
Would your organisation like to create or review an international relocation policy?
Are you are interested in developing support for your international assignees?
Contact Kevin via firstname.lastname@example.org or call +44 (0) 1582 495495.
Image courtesy of Sheelamohan at FreeDigitalPhotos.net