Low unemployment and a high demand for talent in Asia are putting job seekers and new employees in control.
Despite a robust hiring market, new research finds workers are divided on how they feel about their current job, with half of the respondents feeling like they have a career while the remaining half feel like they have ‘just’ a job, and almost one-third of employees plan to change jobs this year. Gemini Personnel reveals summarises a survey by CareerBuilder on reasons for employers to have left their last job, and what they find most important when considering whether to apply for and stay in a job.
Education and skills
In 2019, candidates were considering much more than salary when applying for jobs. Benefits, location, and commute are increasingly important factors. According to the survey of CareerBuilder, many employees want to get ahead in their careers but aren’t offered educational opportunities to learn the skills needed to do so. Indeed, only 32% of employees report being satisfied with the opportunities for career advancement and just 37% say they are satisfied with the training and learning opportunities at their current company, and the majority (58%) think their company does not offer enough opportunities to learn new skills and help them move up in their career. 73% of employees whose companies do not currently offer educational opportunities or workshops outside of work hours say they would be likely to participate if they were available. In response, an increasing number of companies are training workers who may not have the skills needed but do have potential. 56% of employers have paid for employees to get skills-based training or continued education outside the office so they can move up to a higher-skilled job within their organisation.
Complex application processes
The job seeker experience is paramount. Survey respondents say an application that is difficult or confusing to complete (42%), or one that takes too long to complete (31%), would cause them to give up before submitting. This is why ensuring a smooth application process is crucial.
Benefits and other forms of compensation
Benefits and convenience may be more important than compensation. 15% of employees say low compensation or the lack of benefits are among the top reasons they left their last job. Employees shared that other than salary, benefits (75%) and time t commute (59%) are the most important factors they consider when applying for a job. When asked about extra perks, 42% of employees say half-day Fridays would make them more willing to join or stay at a company. On-site fitness centers (23%) and award trips (21%) are also important to job seekers.
Job-hopping
Job-hopping is on the rise. The CareerBuilder surveys found that 29% of employees say they regularly search for jobs while employed, and 78% say that even though they are not actively looking for a new role, they would be open if the right opportunity came along. 51% report they’ve looked for other jobs even when an offer has been extended and the background check is in process and 67% of employers report almost a quarter of new hires not showing up after accepting a position.
Attracting and retaining talent
To attract and retain talent, hiring managers will need to meet workers’ hiring, onboarding and career expectations, providing work/life balance and career advancement opportunities demands.
