ManpowerGroup has released its Global Talent Barometer, a robust new report offering unparalleled insights into workforce sentiment across 16 countries worldwide.The report takes data from over 12,000 workers (more than 1,000 in the UK) and asks workers a series of questions to measure job satisfaction, wellbeing, and confidence.
The UK’s Global Talent Barometer reveals 80 per cent of workers report they feel the work they do has meaning and purpose, with 72 per cent feeling aligned with the vision and values of their organisation, and 69 per cent report feeling properly supported with their work-life balance and personal well-being. Despite this, one third of UK employees feel there are not sufficient opportunities for promotion or movement within their organisation to achieve their career goals, and 34 per cent plan to look for a new job within the next six months.
“Employees overwhelmingly report that their work has meaning. They feel supported by their employers and believe in their values.” said Petra Tagg, Director at ManpowerGroup UK. “However, it’s clear that this isn’t enough to retain skilled workers. Employers who do not provide clear paths for development and advancement in-role should expect their skilled talent to look for opportunities elsewhere, and our Talent Barometer shows this isn’t a small number of workers.”
The report comes at a time when businesses have put the brakes on their hiring plans as they prepare to manage the expected increased cost of labour associated with the new government’s Employment Rights Bill, alongside uncertainty over the financial impact of spending decisions from the recent Budget.
Tagg continues: “We know the UK employment market is struggling through a hiring recession and businesses continue to report record difficulty in finding candidates with the skills they need, making retaining skilled workers essential. It’s clear that any effective retention strategy must provide opportunities for employees to develop in their roles if they want to avoid a challenging and costly recruitment process.”
Despite the Global Talent Barometer generally showing high levels of workplace wellbeing, the report finds nearly a fifth (19 per cent) of the UK workforce are highly-stressed at work, with 75 per cent reporting they are likely to change jobs in the next six months.
Tagg explains: “We all know that stress is often a part of life, but the proportion of workers reporting high stress levels is concerning. The most dedicated employees can often be the most stressed, and our Global Talent Barometer shows employers who do not take the vital steps to support their employees to manage stress can expect an exodus of skilled talent.
“Going into the new year, employers must prioritise fostering opportunities for employees to develop, move, and advance in their roles to retain their skilled talent,” advises Tagg. “Scheduling career check-ins, providing development goals alongside traditional performance metrics, and working collaboratively to build career progression plans with tangible outcomes can make a huge difference.”
