A study from leading recruitment agency, Aspire, suggests that 60.8% of workers are currently looking for a new job, with as many as 49% of respondents searching for a new role due to the cost of living crisis.
This research, in which 832 candidates were surveyed, shows that:
- 60.8% of survey respondents are currently looking for a new job
- 59.8% are of the view there are lots of roles open
- 69.4% of candidates believe they are more likely to be paid more if they move jobs, rather than stay in their existing role and wait for a pay review (10.1%)
- 39.7% (the largest group) see the cost of living crisis as the biggest external factor affecting the jobs market
The UK’s cost of living crisis has impacted workers across the country, with energy prices, food bills and fuel costs all climbing higher.
As inflation rises to 9.1% – its highest rate in 40 years – many candidates are looking for better-paid roles that offset the increase in costs.
Aspire’s founder and chairman, Paul Farrer, commented:
“Our research suggests that 60% of candidates are looking for new jobs, with half citing the cost of living crisis as the main motivating factor. Our study also shows that nearly 70% think they are more likely to earn more by changing jobs rather than staying put and waiting for a pay review.
“With 1.3m job vacancies in the UK and pay in some industries rising by more than a third year-on-year, arguably there’s never been a better time to change jobs. For employers battling staff shortages, the record number of people switching roles – 994,000 in Q1 – is a double-edged sword. On one hand, it’s proof that confidence has returned to the job market. On the other, it represents the challenges businesses face when looking to retain existing staff.
“Employees want to work for companies that offer flexibility and better pay, and if they don’t feel valued, they’ll find a workplace where they are. With just 14% of Aspire’s survey respondents planning on staying in their current roles, it’s clear that employers need to react quickly to the changing demands of their staff.”