Fifth to look for new job

ONE in five workers in Wales say they will be looking for new jobs this year, according to new research from Investors in People (IIP).

The findings are highlighted in a new report Job Exodus Trends 2018 which shows that more than a quarter of employees in the region (26%) say they are unhappy in their jobs. This figure shows a growth of 3% on last year’s findings.

Disappointment stemming from poor management is the major driver of discontentment in this region, with this issue being flagged by 53% of respondents.

Despite improvements in the labour market yielding an increase in the employment rate of 0.6% and the lowest unemployment rate since 1975, there has been a fall in average weekly earnings of 0.4% compared to this time last year.

This year’s survey included a new set of questions aiming to get an overview of how Britain’s decision to leave the EU has influenced the way we think about job security and the place of our organisations in the economy. IIP’s results revealed one in four people in Wales believe Brexit will impact their job security.

Paul Devoy, head of IIP said: “In a year where unemployment has reached its lowest level since 1975, but wages have stagnated, the improvements to the labour market have failed to translate to the pockets of UK’s workers.

“With research suggesting employee disengagement costs the UK economy £340bn annually, bad leadership is eroding UK productivity.

“With 53% of workers in Wales citing poor management as the main reason they’re considering looking for a new job next year, management strategies must evolve to meet the demands of employees if organisations are to retain staff.”

He added: “This should be a wake-up call to employers that they can’t take their talent for granted.”