Job security, decent pay, flexible working and good work relationships are the top reasons for employees to stay in their jobs according to a new survey conducted by Acas.
Acas commissioned YouGov to ask 1,001 employees to name the three most important things that are keeping them in their current main job. The results indicate that there are several key things that employers can do to improve staff retention.
The poll found that:
- 43% picked job security;
- 39% chose competitive pay;
- 38% picked flexible working;
- 38% chose relationships with colleagues.
Also important to employees is feeling valued (cited by 28%), doing meaningful work (21%) and being given professional development opportunities (10%). Only 6% said effective leadership was important.
Susan Clews, Acas chief executive, said: "Businesses are facing significant financial challenges from rising levels of inflation and staffing shortages, while workers are feeling the impact of cost of living pressures. In this economic climate, employees in Britain have picked job security and competitive pay as their top reasons to stay in their jobs. But our poll reveals that flexible working and relationships formed at work are also very important for many staff.
"These findings may be useful to employers when they are considering the types of workplace practices and benefits that can help to retain and attract talented workers."
Acas advises employers to support flexible working in order to attract and retain staff and increase staff productivity. Flexible working can include: part-time working, flexible start and finish times, compressed hours, job shares, working from home or remotely full time and hybrid working.
The appeal of a four-day work week
Recent research conducted by iCompario has found that two-thirds of Brits would switch jobs for a four-day week - equivalent to 20 million people. The survey of 2,000 British workers asked which employee benefits would be most likely to tempt them to change jobs. The most popular answers were:
- A four-day working week (cited by 68%);
- Flexible hours (64%);
- Overtime pay (63%);
- Remote working (56%);
- A company pension scheme (56%);
- A private healthcare plan (54%);
- Performance-based bonuses (54%);
- Early finish on a Friday (54%);
- Company shares (50%);
- Employee discounts (50%).
Kerry Fawcett, digital director at iCompario, said: "The study findings show how important a role benefits can play in retaining a happy and loyal workforce. Many workplace benefits make a tangible difference to people's lives, and workers are much more likely to stay put in their current role if they feel that their employer is rewarding them sufficiently for their efforts."
Written by Rachel Miller.