A quarter of workers looking to change jobs due to cost-of-living crisis

More than a quarter of UK workers are planning to change jobs as a direct result of the cost-of-living crisis, according to a new study.

Productiviy platform ClickUP found that 26 per cent (the equivalent of 7.7million people) of workers are looking to change jobs.

With 68 per cent of these people looking to do so within the next six months, the UK is set to face unprecedented upheaval as people look for better-paying jobs.

The data reveals how British workers are being forced into this position, with 88 per cent (26.1 million people) unsure whether their current job can sustain them through the costof-living crisis.

Significantly, 42 per cent (12.5m) say it has put a lot of pressure on them to earn more. The top drivers for this sentiment were the rising cost of energy (31 per cent), the rising cost of everyday living goods (30 per cent), and wages not rising fast enough (16 per cent).

The recent sharp drop in the value of the pound was also cited by 4 per cent of people.

In addition, the data offers an insight into how businesses can proactively manage the issue of workers leaving for higher-paid jobs, establishing a link between those who are best protected from the cost-of-living crisis and those working in highly productive organisations.

Ultimately, the more productive businesses are, the more profitable they will be, and the more they can pay their staff.

Natasha Wallace, international people operations partner, at ClickUp said: “The cost-of-living crisis will significantly impact employee turnover as people will look for higher paying jobs to try and offset the higher costs they are faced with.

“Retaining and attracting top talent is now an even higher priority for businesses across the country.

“Offering competitive pay is increasingly more important, however in order to do this businesses need to be as efficient and profitable as possible, which is driven by improved productivity.

“A more productive workplace also enables employers to further invest in and empower employees; for example, financial and well-being workshops, enhanced benefits, and career development, which can all help manage the concerns around the cost-of-living crisis.”

ClickUp’s research reveals that some people are looking for higher paying jobs within their same industry or skillset, while others are looking to leave their field entirely to start a new career

Businesses in the IT and hospitality industries are set to feel the most disruption in general – each with 39 per cent of their workforces saying they plan to change jobs.

Those with employees working as drivers (36 per cent), in business services (33 per cent), and construction (33 per cent) will also be significantly affected.

Of these people, 44 per cent of IT professionals are looking for roles in the same field, indicating a relatively high degree of staff turnover within the industry, compared to only 20 per cent of hospitality workers.

However, this still leaves a significant number of IT professionals wanting to leave their role or field entirely, with 16 per cent of those looking for higher-paid jobs seeking managerial and other senior positions and 11 per cent considering becoming finance professionals.

Yet this pales in comparison to hospitality, which could see an exodus of employees moving away from the industry, with healthcare and social work (20 per cent) and administrative roles (17 per cent) their most likely destinations.

Of those who believe their employer ranks high in productivity, 57 per cent say they are not looking for a higherpaid job, which is 11 per cent above the national average of 46 per cent.