Employers could be facing a talent exodus according to a new survey by global recruiter DSJ Global. While 50% are confident or very confident in their job security, 41% of global respondents say they are unlikely to stay with their current employer in the next few months. Despite a gloomy outlook on the economy and job market, many want to leave to pursue a higher salary or better career progression opportunities.
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These findings come from the DSJ Global Job Confidence Index 2020 which measures confidence in the supply chain labor market across industries including banking and financial services, aerospace and defense, automotive, FMCG, chemical, and life sciences. The index reports on professionals’ confidence in the economy, holding or getting a job, their compensation and bonus, and whether the normal push-and-pull factors in employment have changed.
“In this climate, it can be difficult to grasp what current and potential employees are thinking and feeling. The Job Confidence Index provides some clarity and reveals that talent retention is a critical issue right now,” says Luis Rolim, Group Marketing Director at DSJ Global.
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Key findings include:
- Job market blues: 2 in 5 respondents feel negative or very negative about the current job market.
- Back up plans: 2 in 5 also feel that while they may want or need a new role, finding a new opportunity would be difficult.
- Out the door: Irrespective of job satisfaction, only 36% say they are likely or very likely to stay with their current employer over the next six months.
- Climbing the ladder: Career progression remains the biggest motivator for making a move, beating compensation or security. 60% would seek new employment for the chance to progress their career.
- Packing up: For the right job, the majority of US respondents (69%) would move to another region. The South-East region is the most popular choice for relocation (27%).
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