Over half of Brits plan to change jobs in the next year

(2 minutes to read)

UK businesses could lose up to £195 million a day, as half of Brits have said that they’re planning to change their job role within the next 12 months.

Latest research has revealed the cost to UK businesses with many professionals planning to change jobs in the next 12 months.

With more than half of professionals (54%) looking to find a new role in the next year, employees are also spending an average of 1 hour 24 minutes a day being unproductive – costing up to £195 million each day to the UK economy in wages.

The findings, compiled by Totaljobs and Universum, found that almost three quarters (75%) of British workers acknowledge they are unproductive at work. When asked how their productivity could be improved, a quarter of people are calling on their employer to embrace flexible working, 1 in 5 (18%) believe a higher holiday allowance would help avoid burnout, and 17% believe remote working would increase their output.

However, 20% of workers cite feeling unchallenged in their current position as the cause for their unproductivity. This doubles to 4 in 10 of those expecting to change roles in the next year, as they look for new challenges elsewhere. Moreover, once an employee hands their notice in and resigns, productivity drops by a further 20%.

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Interestingly, two thirds of British workers would stay in a job they enjoyed rather than move for more money. For those intent on shifting jobs, the biggest drivers are career progression (30%), professional training and development (32%) and the feeling that their current roles and responsibilities are unlikely to grow (25%).

According to the research, the employees who are the most satisfied in their current role and the least likely to leave are working in:

  • (1st) Auditing and Accounting
  • (2nd) Passenger Transportation
  • (3rd) Law and Legal services
  • (4th) Technology
  • (5th) Construction and Engineering

Professionals in Logistics (30th), Media (29th) and E-commerce (28th) are the least satisfied in their current position.

Alexandra Sydney, Director at Totaljobs, commented, “Despite economic uncertainty, British workers are confident, and willing to look elsewhere and change jobs in order to get the things they want from an employer.

“For employers focused on retention, it’s clear that money isn’t the key driver in job satisfaction. Instead a healthy work-life balance, feeling valued, and having opportunities to progress is what keeps people in a job. Happy employees are engaged employees, and while a fall in productivity can cost a business financially, fixing the issues needn’t. When attracting new hires, it’s these same elements that businesses should shout about in order to land the best talent.”

To find out more about contracting please contact Jaime on 01442 795 100 or email jaime.thorpe@dolanaccountancy.com.

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Why Dolan Accountancy?

Dolan Accountancy was set up by Simon J Dolan, the man behind the well-known brand SJD Accountancy. With over 25 years experience in the contracting marketing, Dolan Accountancy has the heritage, reputation and credibility you can trust. Working closely with our sister company, Contractor Umbrella, it means we can offer one low cost, fixed fee package at £95 + VAT per month. This gives you the flexibility of using both our Limited Company Accountancy Services and our award winning Umbrella Service, for one inclusive cost. We don’t believe in tiered packages or hidden extra fees, instead we aim to give you everything you need, including:

  • Free Company Formation – This is where it all begins. Once you have decided on an available name, we will form your company free of charge (if using our accountancy services) and it will be ready for you to use in as little as three hours.
  • Free use of Contractor Umbrella – With changes in Public Sector IR35 Legislation we understand that sometimes you are required to contract via an umbrella company. We will keep your limited company ticking over, while you work margin free via our sister company, Contractor Umbrella.
  • A Dedicated Accountant – Your accountant will be there for any company or personal tax advice that you require. We will never outsource work, even to internal teams.
  • Free Access to FreeAgent – The founder behind the multi award winning FreeAgent platform was one of Simon’s first clients, therefore it only seems fitting that we offer all of our clients access to FreeAgent, free of charge.
  • Free Business Banking – We have decided to waive our commission so our clients can use Tide free of charge for the first year.
  • Unlimited IR35 Status Reviews – We will review all of your contracts for IR35 purposes and provide you with our professional opinion as to its status.
  • Free Registered and Director’s Service Office Address – Sometimes you just don’t want your home address on display at Companies House. When you sign up to our accountancy services, we will offer the use of our address as an alternative.
  • Your Business and Personal Taxation Needs – This includes Company Accounts, Director’s Personal Tax Return, VAT Returns, Payroll, Corporation Tax and Dividend advice, to name just a few.
  • Same day payments- We offer same day payments as standard providing funds are received into our account by 9am, for no additional fee.

If you’d like to find out more about how Dolan Accountancy can help you and your business, please give us a call on 01442 795100 or email sophie.lewis@dolanaccountancy.com or jaime.thorpe@dolanaccountancy.com.