UK workers would leave current job for 10 percent pay rise


 

Widespread salary stagnation in the UK means that employees would be prepared to leave their current job for a pay increase of as little as 10%, according to research.

A survey of 8,500 employers and employees across 13 countries conducted by the ADP Research Institute revealed that most Europeans would look for an average salary rise of more like 12% before they took up a new position.

But Annabel Jones, HR director at ADP UK, said that salary stagnation was a real issue in the UK. “Inflation has risen rapidly since the Brexit vote last June. This means that UK consumers are suffering a sustained fall in living standards as the real wage falls further,” she explained. “This may well be why UK employees need a smaller salary increase to motivate them to change jobs.”

The report entitled ‘The Evolution of Work 2.0’ revealed, however, that employers tend to overestimate how much of a salary increase it would take for a staff member to go elsewhere, putting the figure at around 11%.

The study also showed that UK employees are more inclined to take risks with regard to the kinds of jobs they look for than other Europeans, with one out of three willing to consider a position outside of their current industry compared with just one in five in France, for example. But despite this situation, 67% of UK workers felt it was hard to shift industries or job roles compared with 64% of respondents elsewhere in Europe.