Bad news. It seems there were more resignations in the UK in the year to February 2010 than the previous 12 months (4.7 per cent, compared with 4.5 per cent). Oh, and earning power has fallen.
The latter is perhaps less surprising given the state of the economy, but it seems people have had enough and were last year more prepared than before to jump ship despite the weak job market.
In fact, job insecurity is one of the reasons behind many of the departures, according to the results of the 2010 National Management Salary Survey
, published today by the Chartered Management Institute (CMI) and XpertHR.
The research, which is based on data collected from 43,312 individuals in 197 organisations, also found restructuring prompted many staff to go.
A significant proportion (38.5 per cent) of employers recognised that their “failure to offer career opportunities and training” contributed to employees leaving.
“Given widespread recognition that engaged staff are more loyal, it is alarming that 61.5 per cent also admitted that their employees’ heads had been turned by head-hunters and recruitment consultants,” the CMI said.
Chief executive Ruth Spellman said it was “clearly time for business to grow up”. “We can no longer afford to reward people with pay rise after pay rise especially as all the evidence suggests that money isn’t the main motivator anymore. Instead, employers must concentrate on building remuneration packages that incorporate earnings with development opportunities, offer flexible approaches to work and recognition of the need to better engage with staff.”