New research from leading recruiter Michael Page has found almost half (43 per cent) of UK workers fear they have missed out on great career opportunities because they have been too hesitant about leaving their job
A poll of 5,000 UK workers revealed that 64 per cent of those who have regretted a move in the past are now more uncertain about seeking new opportunities. The top reasons cited for their regret include ineffective or unsupportive leadership (34 per cent), increased stress compared to their previous role (29 per cent), employers not delivering on promises made during the hiring process (27 per cent), and a misalignment of company culture and values (24 per cent).
Doug Rode, Managing Director UK&I at recruiter Michael Page, part of FTSE 250 PageGroup, which commissioned the research, said:
“It’s concerning to see millions of British workers are experiencing regret over missed career opportunities. However, this presents a real opportunity for businesses to address the concerns holding people back from switching jobs. An essential first step is to hone the employee value proposition. When the business is ready to make its next hire, staying true to your company values and articulating what sets your organisation apart will help you attract not just the best talent, but the right talent for you.”
The study revealed complex hiring processes are putting potential candidates off the job hunt and contributing to stagnation in the market. Facing more than two rounds of interviews (38 per cent) was revealed to be the most common obstacle. Having to prepare a presentation (31 per cent) and the time it takes to complete the application submission (25 per cent) rounded off the most off-putting elements of the interview process.
What’s more, first impressions count when getting talent to sign on the dotted line. Having a welcoming interviewer (56 per cent), creating a comfortable interview environment (47 per cent) and the punctuality of interviewers (38 per cent) were amongst the elements most likely to win over potential candidates.
“While demand for talent remains high, hiring managers should focus on creating a positive recruitment experience by ensuring the process is efficient and engaging,” adds Rode. “Streamlining applications, offering clear timelines, and reducing the number of interview stages are great ways to keep the process smooth. Additionally, providing timely feedback and flexible interview options can help businesses stay in step with today’s fast-paced work environment and the evolving expectations of job seekers."
The poll also reveals clear indications that UK workers are not happy in their present jobs; 51 per cent of workers feel like they are stagnating. Two-fifths of those feel their wings are being clipped by employers due to limited prospects for promotions or pay rises, while 27 per cent no longer find the work challenging.
Hiring managers looking to break this untapped talent pool out of the slump will have to address the factors keeping staff in role. The top hesitations include sacrificing work/life balance (29 per cent), concerns about losing current levels of flexibility (26 per cent) and having to get to grips with new processes somewhere else (18 per cent).
Rode offered more advice for hiring managers: “Taking a closer look at the main obstacles keeping workers from making that career move, employers can implement some quick fixes to convince those still on the job fence. Providing clear information about career paths, flexible work arrangements, and competitive benefits packages on offer from the outset can alleviate concerns about job security and work-life balance, and help people feel like making the move is the right choice.”
Almost a quarter of workers (23 per cent) are now considering stepping back into the job market, alongside one in ten (11 per cent) who are already actively searching for new employment. The survey revealed 73 per cent of jobseekers will be looking for a new role within a year.