15 Nov UK workers considering their options

A new report has claimed that almost a quarter of UK workers are actively considering changing their employers in the coming months, prompted in part by the burnout and stress caused by the pandemic and a record high number of vacancies and potential opportunities currently available.

Recruitment firm Randstad UK surveyed 6000 UK workers and found that:

• 69% felt confident moving into a new role in the coming months
• 24% planned to change roles / employers within the next 3-6 months
• Only 16% described themselves as worried about trying to get a new job

This is in contrast to the usual 11% of workers who are expected to make the switch each year.

The recruiter has said that employers need to look at improving current conditions and pay to help retain their best staff, otherwise face the cost implications – perhaps as much as £25,000 for each employee – for staff covering and planning, recruitment and training and other new starter associated costs.  It can also be costly and timely getting new staff to reach optimum productivity and mass resignations and new recruits could cause issues with the existing team dynamics.

Randstad UK CEO, Victoria Short said that some of the employees who are looking for new jobs were workers who worked throughout the pandemic, potentially staying in roles they were already unhappy with – or grew to becoming unhappy with them due to COVID implications.

Short went on to say:

“Another factor is burnout. Some teams have been running too hot for too long. The pandemic has changed how some people think about life, work and what they want out of both. It’s made people step back and rethink their lives. Covid has reminded them that life is too short.’

“The Great Resignation is going to be very difficult indeed for industries where employees are trying to get out altogether.”

Employment, income and mortgages

Of course, employment and affordability are huge factors when it comes to purchasing properties and lenders need to see that you are earning enough to cover what you are borrowing – and how much you earn will dictate how much you can borrow.

If you are thinking of switching employer and are also thinking about getting on the property ladder, expanding your property portfolio or you are looking for a new mortgage deal, get in touch with the Best 4U team. Any potential employment changes, whether salary or sector, could impact your mortgage affordability. We can help to get a clearer picture of your situation.

Contact the team today!