The majority of people don’t change jobs because of their bosses. Or because their work is either too challenging or not challenging enough.
Amid concerns about the economy, record numbers of employees are choosing to stick with their jobs, according to CEB, a best practice insight and technology company.
Findings from the company’s Global Talent Monitor show that levels of intent to stay jumped five points to 36% to reach a six year high this quarter. CEB warns that it’s not all good news for employers, since despite staying in their current jobs, workers show signs of disengagement.
With the unemployment rate at the highest level in eight years and a severe slowdown in its core sectors, pessimism prevails across the workforce in South Africa and perceptions of job opportunities dropped nearly 5% below the global average.
Whilst perceptions are marginally stronger than recession-struck Spain and Brazil, the deterioration of quality job opportunities is causing more employees to stay put rather than take a gamble by changing employers.
Clare Moncrieff, HR principal executive adviser at CEB said: “We’re seeing the economic downturn have a very real impact on how workers feel about their jobs and their future prospects. Earlier this year we saw a keenness in South African employees to hop between organisations to gain more professional growth and development opportunities.
“But as the jobs market contracts, we’re seeing that workers are more risk averse and unwilling to wager stability for new and potentially risky opportunities.”
While employees are staying in their current jobs, it doesn’t mean they are giving it their all, CEB said.
Levels of discretionary effort, which historically have been high for South Africa compared to other nations globally, are now at the lowest point since the end of 2014.
While they remain comfortably above the global average, people’s engagement and performance will continue to erode if they feel their contributions are not adequately recognized or rewarded.
Employees in South Africa are most likely to disengage, seek out new positions or leave their current job based on a lack of satisfaction with:
- Stability – 43%
- Compensation – 38%
- Work-life balance – 35%
“Whilst workers are staying put for now, we know they are still keeping an eye on opportunities, so employers cannot afford be complacent. During periods of market instability and uncertainty, companies should avoid making promises about job security that they cannot keep,” Moncrieff said.
Source: Business Tech