UK Talent Insights Report 2023

‘The Great Resignation’, ‘Quiet Quitting’, ‘Career Cushioning’… What’s going on with British employees and the jobs market in 2023? We surveyed 1,000 at the start of the year to find out. Our findings paint a valuable picture of the year ahead when it comes to hiring, retention and overall employee sentiment. In our Talent Insights Report we’ll unpack;

• Employee intentions to switch roles
• Sentiments around job security in the current economic market
• How employees are future-proofing their careers
• The latest insights around recruitment and retention
• Much more

Key Findings:

TURNOVER CONTAGION Recent redundancies and headcount reductions are top motivations for job seeking. QUIET CONFIDENCE 69% of employees feel like their job is secure. INFLATION RISES, SALARIES WAVER Only 28% of employees feel their pay meets the demands of inflation. THE YEAR OF THE LATERAL MOVE? More employees want a promotion instead of a new role in a different organisation. For any employer, leader, manager, or HR professional – this Talent Insights Report might be the most essential reading you can do to prepare for hiring in the years following 2023. Download the free report now. Our Talent Insights Report offers a comprehensive analysis of the evolving dynamics within the UK’s talent landscape. Amidst economic uncertainties and shifting workforce priorities, understanding these trends is crucial for any employer, leader, HR professional, or stakeholder aiming to navigate the complexities of recruitment and retention successfully.

A year of adaptation and resilience

The UK stood at a crossroads in 2023, grappling with the aftereffects of Brexit, a cost of living crisis, and the echoes of the pandemic. Against this backdrop, the report introduces the state of the talent market, highlighting the need for timely insights to navigate the years ahead in recruitment and retention.

A paradigm shift in the talent landscape

Promotion over change: A significant shift from the Great Resignation, with 39% of employees now seeking promotions rather than new roles elsewhere, indicating a search for growth within familiar territories. The impact of economic conditions: Economic pressures and the cost of living crisis have not dampened the spirits of British employees, 69% of whom feel secure in their jobs despite 57% acknowledging that their wages don’t match inflation rates. Optimism amidst adversity: A surprising reveal of optimism, with a majority believing in their company’s growth or stability, showcasing resilience in the face of economic challenges.

The state of movement: navigating the currents

This section delves into the motivations driving employees’ career decisions today. Unlike previous years, where personal dissatisfaction led the charge for change, current trends indicate a strategic shift towards securing promotions and internal growth opportunities, underscoring the nuanced impacts of economic conditions on career aspirations.

Cautious optimism: the new workforce sentiment

Despite the odds, British employees were looking at 2023 with hope. The report explores this sentiment, examining the underlying factors that contribute to a surprisingly optimistic outlook among the workforce, even as they engage in ‘career cushioning’ to safeguard their professional futures.

Recruitment and retention: today’s challenges and strategies

Understanding the expectations and desires of employees is more vital than ever. This section highlights the evolving demands for flexibility, job security, and competitive compensation as key factors influencing both recruitment and retention strategies in today’s market.

The rad ahead: insights for employers

The conclusion brings it all together, offering actionable insights for employers. It underscores the importance of adapting to the changing landscape by offering competitive salaries, fostering job security, and leveraging flexible working arrangements to attract and retain talent.

Why this report is indispensable for your talent acquisition strategy:

• Comprehensive analysis: Dive deep into the factors shaping the UK talent market, from economic pressures to changing employee priorities.
• Strategic insights: Gain valuable insights into employee motivations, the importance of job security, and the rising trend of ‘career cushioning.’
• Future-proofing: Equip yourself with knowledge to navigate the complexities of recruitment and retention in a rapidly changing landscape.

Empower your talent strategy:

As the UK navigates these challenging times, the insights from the “UK Talent Insights Report 2023” are more than just observations—they are a strategic tool for any business looking to thrive. Understanding these key trends and adapting your strategies accordingly will be crucial in securing a competitive advantage in the talent market. Stay ahead of the curve—download the full report now and transform your approach to talent management.