July 25th 2024.
Is it better to stick with our current job or look for a new one? According to recent research, staying put may be the wiser choice. In fact, more and more people are choosing to stay with their current employer, and the pandemic played a significant role in this shift.
The pandemic brought about many challenges, but for some, it also brought about positive changes in their work life. One of the most notable changes was the sudden shift to remote work. Before 2019, only a small percentage of UK employees worked from home, but by April 2020, nearly half of employees were working remotely at least part of the time due to the pandemic.
Another major change in the world of work was the rise of online activities. With in-person interactions limited, people turned to online options for tasks like banking, grocery shopping, and even fast food delivery. This led to a surge in online adoption for businesses in these industries.
During this time, while many companies were struggling and implementing furloughs, the tech industry saw an increase in demand and job creation. This trend trickled down to other industries, resulting in a positive labor market. In fact, during the first few months of 2022, redundancies were lower than pre-pandemic levels and job vacancies reached record highs.
This created what has been referred to as the "great resignation" in the UK, with a significant number of workers leaving their current jobs for new opportunities. British workers took advantage of the sudden abundance of job opportunities and used it to negotiate for better positions, titles, and higher pay.
However, as the year went on, redundancies began to increase, and the hiring frenzy slowed down. This highlighted a shift in workers' priorities. People began to value different things in their work, such as job stability, good pay, and beneficial conditions.
As the cost of living and inflation rose, workers became more cautious about leaving their secure roles. They also started to prioritize benefits that directly affected their wallets, such as commuting contributions, skills development stipends, and performance-based bonuses. The "big stay" trend emerged, with workers seeking job stability and beneficial perks.
Flexibility also became a significant factor for workers, especially for parents and caregivers. The pandemic showed that there are alternative ways to get the job done, and many companies have begun to adopt hybrid work models. This allows employees to have a balance between working from home and in the office, providing much-needed flexibility for those with other responsibilities.
According to the Office of National Statistics, while the number of employees working solely from home has decreased since the height of the pandemic, there has been a significant increase in those working a hybrid schedule. This further emphasizes the importance of flexibility in the workplace.
Companies that understand and accommodate their employees' needs for flexibility and beneficial perks are becoming highly sought after. And for workers who value stability, good pay, and flexibility, staying with their current employer is the preferred option.
If you're thinking about making a career move, be sure to check out the Metro Jobs Board for a variety of opportunities all across the UK. With hundreds of roles available, you may just find the perfect fit for you.
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