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Rise in managers 'jumping ship' despite recession

Wednesday 24th February 2010

By Mike Jones

Resignations have increased in the year to February 2010, despite growing fears over job security.

The 2010 National Management Salary Survey, published by the Chartered Management Institute (CMI) and XpertHR, reveals a labour turnover rate of 13.6%, up from 12.4% in 2009. Resignations stand at 4.7%, compared to 4.5%, last year. In a surprising move, the survey results also imply that employers are failing to persuade staff to stay, with requests for "internal transfers" as an alternative to leaving dropping to 3.6% from a high of 5.8%, last year.

Asked what lies behind this desire to change jobs, more than half the employers questioned (53.8%) admitted that restructuring and job insecurity caused many of their staff to "jump ship". A significant proportion (38.5%) recognised that their "failure to offer career opportunities and training" contributed to employees leaving. Given widespread recognition that engaged staff are more loyal, it is alarming that 61.5% also admitted that their employees’ heads had been turned by head-hunters and recruitment consultants.

Ruth Spellman, chief executive of the CMI, said: "A year ago employers were looking at job transfers as a way of halting growth of the dole queue. However, with the latest figures showing that staff are prepared to run the risk of unemployment by jumping ship, questions must be asked about employee engagement levels in organisations up and down the country.

"It is clearly time for business to grow up. We can no longer afford to reward people with pay rise after pay rise especially as all the evidence suggests that money isn’t the main motivator anymore. Instead, employers must concentrate on building remuneration packages that incorporate earnings with development opportunities, offer flexible approaches to work and recognition of the need to better engage with staff."

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