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The grass isn’t always greener..
Interestingly, the data also shows that a quarter of professionals admitted that their perusal of the jobs market has led them to appreciate their employer more.
A further fifth admitted that they have discovered their current employer pays better than the market average.
Poole comments: “Career cushioning needn’t always be looked at as a negative by employers. In many cases it can lead to employees upskilling, being more determined to succeed or engaging in more networking – bringing greater value to the business.
“There is no guarantee that those that have a ‘career cushion’ will leave, it’s an old adage but employees researching opportunities elsewhere can often illustrate to them that the grass isn’t always greener.”
Of course, there is still a risk that career cushioning might slip from a passive exploration of options, to an employee actively searching to leave their role.
That peril has become more menacing in recent years, as the fallout from the ‘Great Resignation’ post-COVID continues to threaten small business growth strategies. Official figures show that the unemployment rate has hit a record high in the UK.
The drain on talent has proven so disruptive that many startups are exploring alternative recruitment routes, like hiring ex-offenders or overseas workers.
How to pop a career cushion
It sounds simple. But the easiest method to deflate a career cushion before it can spring your best talent into a new position is to ensure you are offering a better remuneration package than rival employers.
When deciding how much to pay your employees, make sure to carry out industry benchmarking. This is essentially a fancy way to describe researching how much people in similar roles are being paid in other companies, so you know the going rate for that role.
Understanding how much your employees could be being paid at another company will help you to put yourself in their boots, and evaluate whether a pay rise might be necessary to attract and retain talent.
Perk up
Of course, it’s not all about the money. Benefits and perks packages are now strong magnets for enticing new applicants to your workforce – in fact, forgetting this information is one of the most common mistakes made on job adverts.
Learning and development (L&D) opportunities are the most in-demand. E-learning solutions provider IMC has found that 86% of employees would remain with their current employer for longer if their employers invested more in training and upskilling.
Today’s workers are also searching for ways to engage in meaningful work – a job seeking method where the candidate prioritises roles that are linked to an individual’s personal views and passions.
As a result, organisations are increasingly posting about their unique company values and corporate culture. In fact, LinkedIn recently unveiled a first-of-its-kind values-based tool for job searchers to find roles that reflect their beliefs.
More on this: learn about the many effective tactics you can use to lower staff turnover rate and retain talent in our full guide.
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