Wages have scarcely risen in the last decade and UK employees now only anticipate a 0.2 per cent pay rise – a figure which sits well below the global average of 3.8 per cent. The prospect of bonus pay is even less promising, with British employees expecting to see a 1.6 per cent decrease in bonus payments. At 57.4 per cent, perceptions of pay value, fairness and equity in Britain also fall below the global average of 60.3 per cent.
Active job-seeking in the UK is up by 5.3 per cent year over year. Employees are mostly leaving their jobs due to a perceived lack of future career opportunities (45.6 per cent), while an increasing number of employees also cite a lack of respect (26.9 per cent) and meritocracy (14.3 per cent) as key attrition drivers. In spite of this, respect fell in 4Q 2017 as a top attraction driver for UK talent.
Compensation is the greatest attraction driver for job seekers globally (45.2 per cent), but in the UK, remuneration ranks sixth (22.2 per cent), with work-life balance comfortably taking the top spot at 55 per cent.
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