As many as 64 per cent of employees have said they will resign if their employers don’t increase their pay in the new year.
The finding comes from a survey of 6,000 employees conducted by recruitment firm Robert Walters for its 2022 UK Salary Guide. As many as 72 per cent expect a pay rise but only 28 per cent of employers (500 companies polled) intend to pay up.
The warning from the recruiter, then, is that the so-called ‘Great Resignation’ is likely to peak in February next year.
Toby Fowlston, CEO of Robert Walters & Walters People, said: “For firms that have performed well in 2021; the talks of your organisation ‘bouncing back,’ hitting record profits, or hiring in certain areas rapidly, will all be front of mind for employees in their upcoming appraisal.
“This conversation is a sensitive one – but it is exactly that, a conversation. Companies need to prepare their management teams on how to best articulate their company’s narrative around remuneration and career opportunities. Meetings should be face to face (where Covid rules allow) to maximise a human connection. If this process isn’t managed correctly businesses will be faced with the challenge of high staff turnover in the first quarter of the year.”