Across the board, retention seems to dip once employees have spent more than three years at an organisation. This correlates directly with satisfaction levels. Our survey revealed that 22% of professionals state that their needs are met within the first year of employment, with this dropping to around 10% at the three to four year point.
Download the research paper here.
Candidates who have been with their current employer for less than one year cited better career opportunities (35%) and better money prospects (16%) as some of the main drivers for relocating to a new role.
However, there was a notable shift in mind-set for candidates who have been with their current employer for three to four years as almost 70% stated that a better lifestyle would be the main reason for a job move, followed by better career opportunities (17%) and the opportunity to be closer to friends or family (17%).
Interestingly, almost no candidates who had been with their current employer for three to four years stated that a job relocation would be driven by salary - suggesting that companies do a good job of remunerating candidates who have given over three years of service.
- Tailoring the job offer to meet candidate expectations
- Understanding employees’ current career priorities
- Retaining top talent
- Getting the hiring process right
- Being valued within a company (25%) and work-life balance (17%) are considered the main career priorities
- After five years, being valued (35%) becomes even more important to employees
- Only 9% of professionals state that securing a substantial pay rise is a key career priority
- In contrast, organisations believe employees career priorities is led by salary & package (45%) and good progression opportunities (25%)
- Only professionals within banking & financial services ranked obtaining a substantial pay rise as a key career priority (18%)
- 40% of professionals stated that they would consider working in temporary, interim or contract job roles
Download the full research here.