News & Views
EMPLOYEES SET TO MOVE WHEN OPPORTUNITIES PRESENT THEMSELVES
There is a widespread feeling amongst the executive community that as soon as the right opportunity presents itself employees are ready to move. After a long period of “sitting tight’, it appears that we are on the cusp of seeing people start to actively seek opportunities, or capitalise on ones that are presented to them.
In OCG’s November survey of 6000 mid to upper level executives, participants were asked to rate their level of interest in a new career opportunity, job satisfaction and what evidence of the economy improving that would tempt them to consider a new career opportunity.
Overall results show that (As shown in the graphs
below);
• 20% of all candidates surveyed are either unsatisfied or extremely unsatisfied with their current role.
• 58% of those surveyed are either Slightly (17%) Seriously (28%) or Aggressively (15%) looking for a new role.
• 70% of all candidates surveyed would be open to an approach to discuss a new career opportunity
• And 50% of candidates surveyed would consider a new career opportunity if they felt there was saw just some evidence of the economy picking up vs. 22% needing widespread evidence the economy is turning around
• 20% of all candidates surveyed are either unsatisfied or extremely unsatisfied with their current role.
• 58% of those surveyed are either Slightly (17%) Seriously (28%) or Aggressively (15%) looking for a new role.
• 70% of all candidates surveyed would be open to an approach to discuss a new career opportunity
• And 50% of candidates surveyed would consider a new career opportunity if they felt there was saw just some evidence of the economy picking up vs. 22% needing widespread evidence the economy is turning around
Results by Sector:
Financial Services
Versus the average the Financial Sector candidates said that they had:
• Low levels of extremely satisfied responses with just 5% of candidates extremely satisfied vs. the average of 10%
• Higher levels of candidates aggressively looking for a new role with 23% of financial services aggressively looking vs. the average of 15%.
• More candidates open to discussing a new career option with 75% definitely open vs. the average of 70%
Versus the average the Financial Sector candidates said that they had:
• Low levels of extremely satisfied responses with just 5% of candidates extremely satisfied vs. the average of 10%
• Higher levels of candidates aggressively looking for a new role with 23% of financial services aggressively looking vs. the average of 15%.
• More candidates open to discussing a new career option with 75% definitely open vs. the average of 70%
FMCG
Versus the average responses FMCG candidates said that they had:
• Much higher levels of job satisfaction vs. the average, 45% for FMCG vs the average of 32%
• As a result higher levels of not looking for work with 15% of FMCG candidates Absolutely not looking vs. the average of 9%
• However when asked if candidates would be open to discussing a new opportunity FMCG showed higher than average levels of interest with 78% definitely interested in discussing a new opportunity vs. the average of 71%
Versus the average responses FMCG candidates said that they had:
• Much higher levels of job satisfaction vs. the average, 45% for FMCG vs the average of 32%
• As a result higher levels of not looking for work with 15% of FMCG candidates Absolutely not looking vs. the average of 9%
• However when asked if candidates would be open to discussing a new opportunity FMCG showed higher than average levels of interest with 78% definitely interested in discussing a new opportunity vs. the average of 71%
Public Sector
Versus the average responses Public Sector candidates said that they had:
• Slightly higher levels of job dissatisfaction with 23% of Public Sector candidates either unsatisfied or extremely unsatisfied with their current role vs. the average of 20%
• Still the Public Sector does reflect some ingrained candidate loyalty with the highest levels of 17% would not leave my current job vs. the average of 8%
Versus the average responses Public Sector candidates said that they had:
• Slightly higher levels of job dissatisfaction with 23% of Public Sector candidates either unsatisfied or extremely unsatisfied with their current role vs. the average of 20%
• Still the Public Sector does reflect some ingrained candidate loyalty with the highest levels of 17% would not leave my current job vs. the average of 8%
Retail
Versus the average responses Retail candidates said that they had;
• The highest level of job dissatisfaction with 43% of Retail candidates surveyed either unsatisfied/extremely unsatisfied vs. the average of just 20%
• Conversely just 3% of Retail candidates extremely satisfied vs. the average of 10%
• So not surprisingly Retail candidates showed the highest levels of all sectors of job hunting efforts with 67% seriously or aggressively looking for a new role vs. and average of 43%Services
Services
Versus the average responses Services candidates said that
they had:
• The highest level of job satisfaction of all sectors with Services candidates saying the 50% of them are either satisfied or extremely satisfied with their current role vs. the average of 42%
• Even so a higher than average level of Services candidates stated that they where still slightly looking for a new role at 25% vs. the average of 17%
• The highest level of job satisfaction of all sectors with Services candidates saying the 50% of them are either satisfied or extremely satisfied with their current role vs. the average of 42%
• Even so a higher than average level of Services candidates stated that they where still slightly looking for a new role at 25% vs. the average of 17%
What does
this mean to our clients?
What we have observed over the last 12 months is an ongoing difficulty in finding and securing high quality talent for our clients. The reasons are twofold: Firstly, due to market uncertainty, the majority of candidates have focussed simply on retaining the role and income they have, not wanting to jeopardise it by seeking other employment. Secondly, when candidates have been approached or have applied for another role, we have witnessed an unprecedented amount of counter offers as employers try to retain the talent they have in the business.
What we now anticipate in the year to come (which has been supported by our survey) is that candidates will be more willing to actively seek or at least consider other opportunities. This will lead to a stronger level of activity in the employment market. As such, employers wanting to retain key talent will need to be strongly tapped into the motivators of those people in order to avoid losing them; and will have to be fast and flexible to win those on the market.
Future Surveys
As this is a benchmark survey OCG will be conducting the same candidate survey again to measure the future changes in candidate sentiment.
As this is a benchmark survey OCG will be conducting the same candidate survey again to measure the future changes in candidate sentiment.
