Workforce Management News: Employee Confidence in UK Business Plunges
Employers must take relevant action to avoid staff disengagement as employees are less likely to seek another job in a climate of uncertainty
The latest results from Gartner’s Global Talent Monitor report shows employee confidence in the UK business environment is decaying. This mirrors a similar global trend.
The report from Gartner, workplace analytics experts, shows that an indexed score for employee confidence in near-term business conditions and long-term economic prospects has reduced from 60.09 to 55.6 over the last two quarters of 2018. This is a drop of over 7%. However, the uncertainty of the job market due to Brexit, combined with the lack of stability new staff feel in a ‘last in, first out’ culture, means that a potentially disengaged element are remaining in their current role rather than seeking a better employer.
Brian Kropp, group vice president of Gartner’s HR practice commented, “Our most recent Global Talent Monitor data shows that talent attraction is set to be a particular challenge in the months ahead, regardless of how Brexit plays out. With fewer opportunities to pull talent into their organisation, employers need to ensure they don’t alienate the brightest and best talent within their company.”
Stated reasons for job dissatisfaction in the UK include lack of future career opportunity (cited by 45.6% of departing employees), personal development opportunity (37.4%) and recognition (36.9%). When it comes to considering a new role, work-life balance is the critical factor at 45.9%. This is followed by job location at 39.9%, and job stability at 31.5%. In the UK, only 27% named financial compensation as the most important element, in contrast to a global percentage of 45%.
“UK employees clearly have greater priorities than compensation, challenging the assumption made by many companies: that paychecks matter most to workers,” stated Mr Kropp. “Organisations must deliver what employees want most and, just as important, they must communicate this to current employees and prospects alike. Doing so can drastically increase employees’ satisfaction and trust in their employer, and thus improve their overall engagement with the business.”
Bodet’s Time & Attendance Systems can assist in maintaining a work-life balance for your employees by allowing you to offer flexible working without any additional HR administration. You can also set up trigger reports so you receive alerts when employees are working too many additional hours.
When it comes to boosting your employee engagement strategy, our solutions can support factors such as staff empowerment, fairness and wellbeing. The communications capabilities of our Kelio Visio X7 Terminal also allow you to increase staff recognition, and make employees aware of the measures you put in place to raise the quality of their working lives.
If you would like further information, or a free demonstration of our Time & Attendance Solutions to see how they will boost productivity in your organisation, please do not hesitate to contact us.