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Retaining top talent
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.
Research covers:
- Tailoring the job offer to meet candidate expectations
- Understanding employees’ current career priorities
- Retaining top talent
- Getting the hiring process right
Key Findings:
- 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
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