November 01, 2013 - Rachel Miller
Talent is on the move, with the number of employees looking for new jobs at its highest since early 2011, according to a survey of nearly 3,000 employees by the Chartered Institute of Personnel and Development (CIPD), in partnership with Halogen.
The CIPD/Halogen Employee Outlook has found that after years of labour market stagnation, employees are starting to look around for new jobs. The survey revealed that 24% of employees in the private and voluntary sectors, and 23% in the public sector, are looking to move on.
Claire McCartney, CIPD research adviser, said: "Talent is on the move again, signalling a decline in fear around job security as the impact of the economic downturn begins to lessen."
She added: "However, this should also signal a warning to employers to up their game when it comes to retaining key talent – if they aren't monitoring their employees' progression and providing opportunities to talk about career development, they may well risk losing some of their most talented workers, who might well vote with their feet and take advantage of a somewhat improved labour market outlook.
"The private sector is particularly at risk of this, where there has been a steady decline in employees' job satisfaction."
The research also found that fewer organisations are implementing recruitment freezes, with 24% of employees reporting that their organisation has a freeze on recruitment, down from 28% in spring 2013 and 29% in winter 2012.
According to new figures from the Department for Business, Innovation and Skills (BIS), private sector employment has risen to an estimated 59%, an increase of 0.7% on the same period a year ago. Business minister Michael Fallon said: "The figures published today show our efforts to rebalance the economy toward the private sector continue to bear fruit, with private sector employment for this quarter now at its highest level since 2009."