Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

The big stay: job security concerns keep 71% of professionals from moving roles, finds new research

by August 27, 2024
August 27, 2024
The big stay: job security concerns keep 71% of professionals from moving roles, finds new research

A significant majority of UK professionals are increasingly reluctant to change jobs, with 71% expressing hesitation due to concerns over job security, according to a recent poll by global recruitment firm Robert Walters.

This trend, which the firm has dubbed ‘The Big Stay,’ suggests that many workers are prioritising stability over career advancement, a choice that could have wide-ranging implications for both their professional futures and the broader economy.

The survey highlights that three-quarters of respondents consider job security as a key factor when evaluating new opportunities, with 16% admitting that fear of insecurity in a new role has completely deterred them from applying.

Chris Eldridge, CEO of Robert Walters UK & Ireland, contrasts this with the wave of ‘The Great Resignation’ just a few years ago, when professionals were changing jobs at record rates, lured by higher starting salaries. He notes, “While there was initial concern about ‘The Big Stay,’ this may be a short-lived phenomenon as market confidence appears to be rebounding post-election.”

Eldridge warns that staying in a stagnant role could hinder both individual career development and economic dynamism. “Economic growth relies on labour mobility. Organisations need fresh perspectives to remain competitive, and employees who shy away from new opportunities risk stagnating in their careers. Statistically, those who change jobs more frequently tend to earn more over their working lives.”

Shift in Priorities

The findings also reveal a notable shift in professional priorities. A significant 77% of UK workers now rank job security above salary, with 16% indicating that this concern has only recently come to the forefront of their minds. Employers have noticed this shift as well, with 74% stating that candidates are increasingly raising the issue of job security during the recruitment process.

Economic factors are a major driver of this trend, with over two-fifths of respondents citing the state of the economy as a crucial consideration in their decision to move roles. Inflation, unemployment rates, and GDP growth are among the top concerns influencing their hesitancy.

Eldridge acknowledges the pressures facing professionals, noting, “Even when a company can offer job security, the current economic climate is causing many to delay making significant life or career changes.”

Companies Struggle to Attract Talent

The report also sheds light on the challenges facing employers, with 79% of hiring managers observing an increase in candidates declining job offers in 2024. The primary reasons cited are salary expectations or cultural fit, followed by concerns over company security and job stability.

In response, 75% of companies have adjusted their recruitment strategies to address these concerns. These adjustments include being more transparent about growth plans and openly discussing industry challenges. However, only 13% of firms are candid about their financial performance during the recruitment process, fearing that such transparency might deter potential hires.

Nevertheless, some companies are recognising the value of transparency. Over a third now claim to be very transparent about their financial health and long-term plans, with a quarter still opting for a more guarded approach.

Eldridge concludes, “While companies may hesitate to disclose financial details or challenges, my experience shows that transparency often helps secure the right candidate—those who are not only undeterred by these challenges but are also eager to contribute solutions.”

Read more:
The big stay: job security concerns keep 71% of professionals from moving roles, finds new research

0
FacebookTwitterGoogle +Pinterest
previous post
2024 Countdown: Harris has post-DNC momentum but Trump is burning up campaign trail with 10 weeks left
next post
Getting To Know You: Emily Jeffrey-Barrett, Co-founder of Among Equals

You may also like

Community lenders unlock £1bn to support small firms...

December 5, 2024

Getting To Know You: Emily Jeffrey-Barrett, Co-founder of...

August 27, 2024

Decorating Your Home With Costway Christmas Tree

September 13, 2022

 BGF backs Leeds-headquartered Primary Care Physio in £8.25m...

September 4, 2023

COP28 draft agreement removes phasing out of fossil...

December 12, 2023

The Fitness Group Grows with 10 New UK...

January 18, 2024

Boxing legend Chris Eubank launches Trust Huddle, set...

November 11, 2024

Elon Musk’s satellites to be part of UK...

December 1, 2022

3 Hyundai Models All Camping Enthusiasts Love

March 26, 2025

Dental Implants Middlesbrough: A Complete Overview

September 12, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Call with China’s Xi, and Trump-Musk exchange fueled barbs during 20th week in office

      June 7, 2025
    • Trump’s conservative allies warn Congress faces critical ‘test’ with $9.4B spending cut proposal

      June 7, 2025
    • Tech ETFs are Leading Since April, but Another Group is Leading YTD

      June 7, 2025
    • TIMELINE: Inside the evolving relationship between Trump and Musk from first term to this week’s fallout

      June 7, 2025
    • Deadly drone wars are already here and the US is horribly unprepared

      June 7, 2025
    • Week Ahead: NIFTY’s Behavior Against This Level Crucial As The Index Looks At Potential Resumption Of An Upmove

      June 7, 2025

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,564)
    • Stocks (3,136)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved