One in four workers are planning to change jobs this year

One in four employees are hoping to start a new job in the coming year, with many chasing higher wages and more recognition from their bosses.

A new poll of 2,000 UK employees, by HR and payroll software provider Ciphr, has found that nearly a quarter (24%) are actively job hunting or planning to change employers soon.

Nearly a third (32%) of workers under 34, and 30% of 35-44-year-olds, said they were (or will be) looking for different roles. This contrasts with around a fifth (22%) of 45-55-year-olds, one in seven (14%) 55-64-year-olds, and less than a tenth (7%) of those over 65.

Respondents planning to look for another position this year were asked their reasons why.

Feeling underpaid was the main driver for over a third (36%) of those who said they were considering a move, with 37% of women and 34% of men unhappy with their wages.

A further quarter (24%) said it was simply time to move on. While this doesn’t automatically signal job dissatisfaction, it’s likely. Given that most survey respondents who selected this reason for wanting, or needing, to change their role also listed multiple other factors.

The same number of people (24%) also want to quit due to a lack of recognition for their contributions, which is known to affect performance, morale, and engagement. Again, more women than men reported this. Over one in four (28%) surveyed women, compared to one in six (17%) surveyed men, cited feeling undervalued at work as a big motivator for wanting to leave their jobs.

A lack of job growth was also reported by more women than men, with 24% of female employees (vs 18% of male employees) having to seek employment elsewhere for the career progression, promotion opportunities and management responsibilities they want (as their current employer can’t accommodate them).

Other common reasons for seeking a new role include a desire for a more fulfilling career (23% of those surveyed), not enjoying their job (22%), feeling bored and unengaged (17%), wanting a better work-life balance (17%), wanting to reduce work stress and workload (16%), and poor leadership (16%).

Around one in seven (15%) want to gain new knowledge and skills, and the same number of people said they wanted to be able to work at home more of the time (15%).

Claire Hawes, chief people and operations officer at Ciphr, says:

“These findings should be a wake-up call for employers. Around a third of workers under 45 want to switch jobs, with many saying they’re feeling underpaid and undervalued. That’s highlighting problems that are very fixable. People aren’t leaving because they hate the work… they’re leaving because they don’t feel recognised or seen.

“These things can’t be fixed overnight, however, and need a deliberate and sustained effort to improve over time. Employers would benefit from identifying the two or three things they can do in the next year and creating tangible plans that they can communicate to their workforce about how they plan to change and improve their pay and recognition models. For example, audit your pay – you don’t need to match market rate overnight, but you should understand where the gaps (and risks) are, and be honest with your people about your pay strategy and plans.

“Think about how you can better build recognition into the rhythm of your business – not as a one-off initiative, but as a management culture. Recognition is all about acknowledging someone’s contributions and giving credit. People want to know that their employer appreciates and values them. It doesn’t always need to be big financial gestures. Internal shout-outs, an early Friday finish, or a coffee voucher, can have a big impact. Aim for frequent, consistent and genuine recognition.

“And, finally, ensure there’s space for career conversations. One in five people who are planning to leave are doing so because they can’t see a future career path. Work with them to ensure they are being heard, and that they understand what career options they have inside your organisation.

“Retention is rooted in getting the basics right: fair pay, genuine recognition, and a credible career and growth story that employees can buy into.”

The full results are available to view here.