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'New year, new job' sentiment declines despite unemployment at 40-year low

Alan Tovey
Almost 50pc of workers plan to change job in 2018, according to new data - Getty 

The traditional desire to find a new job in the new year will ease off in 2018 – but bad bosses have become the biggest reason to drive people to the recruitment market.

Research by Investors in People (IIP) has found that 47pc of people plan to change job in 2018, a 12pc drop on last year.

Of those considering a move, 18pc are actively looking for a new position compared with 25pc at the beginning of 2017.

The declines come as confidence in the job market eases – despite UK unemployment at 4.2pc, a 42-year low – with just a quarter of workers saying they thought employment prospects had improved over the past year, down from a third the previous year.

About a quarter of people said they were unhappy in their current employment, down from a third in 2016. 

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The main reason for seeking a new role is bad management, according to 49pc of those surveyed by IIP, a 7pc increase on the previous year. This was ahead of pay which was voted as the top reason by 40pc of respondents, and feeling under valued was voted by 39pc of workers.

Paul Devov, head of IIP, said: “In a year where unemployment has reached its lowest level since 1975, but wages have stagnated, the improvements to the labour market have failed to translate to the pockets of UK workers.

“With 49pc of workers citing poor management as the main reason they’re considering looking for a new job next year, management strategies must evolve to meet the demands of employees if organisations are to retain staff.”

IIP found some relatively quick fixes to improve employees’ happiness, with 44pc of those surveyed saying a small pay rise was the one thing their employer could do to increase happiness in their job. A further 10pc said a manager taking time to thank them for their work would increase their happiness and feelings of contentment.

The poll of 1,000 people also asked how they thought Britain’s decision to leave the EU would affect their jobs. This revealed that 23pc believe that Brexit will negatively impact their job security.