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Gloucestershire Business News

One in five plans to change jobs this year

Almost one in five UK workers plans to change jobs in the next 12 months, in search of better pay and job satisfaction.

A survey by accounting firm PwC found younger and highly skilled workers were most likely to be unhappy in their jobs or seeking a raise, as reported by the BBC.

The firm warned that firms can't be complacent, with highly skilled workers in demand.

Many workers changed jobs or left the workforce during the pandemic and PwC said the trend has showed no sign of slowing.

Between January and March 2022, there were more job vacancies than unemployed people in the UK for the first time since records began, according to the Office for National Statistics (ONS).

The number moving from job to job also hit a record high. Regular wages (excluding bonuses) were up by 4.2 per cent, although failing to keep pace with the rise in the cost of living.

PwC surveyed more than 2,000 UK workers from a range of industries in March and found that:

• 18 per cent were "very or extremely likely" to switch to a new employer within the next year

• 32 per cent were moderately or slightly likely to switch and 16 per cent were planning to leave the workforce temporarily or permanently

• An increase in pay was the main reason for changing jobs (72 per cent), followed by wanting a more fulfilling job (68 per cent)

Gen Z (aged 24 and under) and Millennials (25 to 40-year-olds) were most likely to be seeking new jobs, pay rises or promotions, according to PwC.

PwC found that being able to work from home is a priority for many workers, although most want to mix it with at least some time in the office.

According to latest ONS figures, around one in seven working adults in the UK (14 per cent) were purely doing their jobs from home offices in April and May this year.

Another 24 per cent have adopted hybrid working patterns, where they are in an office or other workplace part of the time. Only 17 per cent said they want to be working full-time or mostly in the office.

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