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More employees expected to quit in coming year

January 11, 2018  /   No Comments

More employees expected to quit in coming yearOnline recruitment site Glassdoor has released new data revealing that 35% of recruiters and hiring managers expect more employees to quit over the next 12 months.

The survey, conducted among 750 ‘hiring decision-makers’ (those in recruitment, HR and responsible for hiring) in the US and UK, also reveals that nearly half (45%) note that salary is the top reason for employees changing jobs, followed by career advancement opportunities and benefits, then location.

While two-thirds (64%) of those surveyed believe their organisation is satisfactory/very satisfactory at clearly setting pay and benefit expectations within job postings, salary ranges are still an enigma: Glassdoor data show fewer than 1 in 10 online job listings include pay data in the job description. More than one-third (37%) of hiring decision-makers say retention rates would increase significantly if new hires were better informed during the hiring process.

In addition, a separate Glassdoor survey from 2017 shows that nearly all (98%) jobseekers and employees say it would be helpful to see pay ranges included in open job listings.

“Pay can be a big motivator for employees to take a job, however, very few job listings actually include pay information, even if this is overwhelmingly what jobseekers want. If candidates were better informed about how their pay and career could progress during the initial job search and recruiting process, they would be less likely to take a job that turns out to be a bad fit,” said Carmel Galvin, Chief Human Resources Officer at Glassdoor. “Recruiters and hiring managers need to manage expectations and use all channels available to them to communicate with potential candidates to ensure pay realities meet expectations. It shouldn’t be a battle for jobseekers to gain insights into salaries, benefits, culture and what their career path might look like in a job.”

Half (48%) of hiring decision-makers note salary and compensation is the most influential factor for a candidate decision on where to work. Pay offers from rival firms are a significant consideration for employers – two-thirds noted competing offers were a major challenge in attracting and hiring informed candidates.

“There is almost always going to be a rival firm that could potentially pay your best people more, but Glassdoor research, and other third-party studies, confirm that company culture matters more than pay as a driver of long-term employee satisfaction and engagement. If you can improve your workplace culture and offer people career advancement opportunities, this will help you hold on to people longer,” concluded Carmel.

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