Resignations on the increase as high salaries paid to attract new employees
Booster salary and benefits packages for new starters aimed at helping recruitment are instead fuelling resignations. The most common reason for UK employees to start looking for another job was discovering that new hires of the same level were paid more than them, according to a recent survey.
This means that businesses are now forced into a dilemma, as efforts to recruit talent indirectly harm efforts to retain it. Around a quarter said they would start the job search if they saw their employer advertising better benefits that they did not receive themselves.This could create issues for employers as close to half of employees have discovered that a new hire is being paid more than them, and 44% said their employer was advertising better benefits for new hires.
According to the survey, employees were significantly more likely to be looking to move job because of pay and benefits disparities than because they felt burnt out. Even an employer refusing to be flexible about hours so that an employee could go to a medical appointment, for example, was less likely to cause people to start their job hunt.
121 HR Solutions is highly experienced in conducting both salary and benefit benchmarking to ensure you stay ahead of the game to both retain and attract talent in your team. Contact email@example.com for more information.