Employees may be feeling more loyal to their own career goals instead of their employers, as 40 percent do not feel loyal to their current employer and 23 per cent said they are likely to leave their current position to change jobs in a year or less. This is according to CareerBuilder.co.uk’s latest survey of more than 250 HR professionals and hiring managers and more than 600 employees.
“When workers feel disloyal to their employer, they are more likely to be less productive and proactive in their role, and ultimately, are probably keeping their eyes open for a new position elsewhere,” said Tony Roy, CareerBuilder EMEA President. “While already weathering the storm of a downshifted economy, employers may need to factor in additional recruitment costs into their budgets to keep their workforce stacked with qualified talent.”
The price tag of frequent turnover can be quite high. According to the survey, 34 per cent of employers have an average cost per hire of 1,000 pounds or more; 20 per cent estimate their cost-per-hire at 2,500 pounds or more.
Once employers factor in the costs of hiring new employees, it can take a significant amount of time to make up those expenses. Forty-seven per cent of employers estimated that it takes them more than six months to recoup expenses associated with recruiting and training someone once they’re on board with the company; 22 per cent said it takes more than one year.
Workers cited a variety of reasons for why they felt disloyal to their current employer:
- Don’t feel my employer values me — 61 per cent
- Employer does not pay enough — 53 per cent
- My efforts are not recognized or appreciated — 46 per cent
- Not enough career advancement opportunities — 42 per cent
- Benefits are not good enough — 34 per cent
- Don’t like the work culture — 26 per cent
- Employer doesn’t provide enough ongoing training or education — 24 per cent
- Work is not challenging enough — 24 per cent
- Don’t like my boss — 21 per cent