Recent Experience

'The Great Resignation' and 'Quiet Quitting' were two phrases discussed repeatedly during the past few years. This was brought on by people reflecting on recent experiences, looking for more and not being too shy about letting you know they weren’t satisfied.

Many studies have shown [1] that reasons for looking for alternative employment were greater flexibility, greater career prospects and better pay and conditions. The responses below show that in amongst this turmoil, just as with the responses to the question on Productivity (next page), once you dig deeper than the headlines, you find that the real picture is not as grim as has been expressed.

VERY NEGATIVE NEGATIVE

NEUTRAL POSITIVE

VERY POSITIVE

VERY NEGATIVE NEGATIVE NEUTRAL POSITIVE

VERY POSITIVE

The c.25% who have expressed a negative response in Q4 would be wise to understand why retention has been so challenging. If the reasons can be addressed, then that will undoubtedly also help with employee attraction. For some, it may be purely financial and due to the scale of their business and therefore completely outwith their control.

In terms of recruitment, the war on talent continues. The data would tend to support the assertion (repeated in the free text responses on page 17), that the balance of power has currently swung towards the employee. The Chartered Institute of Professional Development (CIPD) reported in July 2022 that there was still a dwindling talent pool [2] though the Office for National Statistics states that vacancy numbers continue to fall, [3] citing “uncertainty across industries, as survey respondents continue to cite economic pressures as a factor in holding back on recruitment” .

EY, How workplace rebalancing is building pressure in the talent pipeline, Liz Fealy & Roselyn Feinsod, April 2022 CIPD, The Battle for Talent Continues, Jonathan Boys, July 2022 Office of national statistics, Labour market overview, UK: April 2023