A NEW SURVEY says that one in every three Irish employees is looking to leave their job.
They cite reasons such as dissatisfaction with benefits, pay and job security for their discontent in a new survey by Mercer, called What’s Working.
The survey was carried out between 2010 and 2011, with 30,000 workers in 17 different markets taking part – including 1,000 Irish workers.
It showed that 35 per cent of Irish workers are seriously considering leaving the organisation they currently work for, which is an increase in 13 per cent since the previous survey in 2004’s level of 22 percent.
However, a further 23 per cent say they are indifferent about leaving right now – but they don’t look at their employer favourably.
Patrick Robertson, Senior Consultant with Mercer said:
Diminished loyalty and widespread apathy can undermine business performance, particularly as companies increasingly look to their people to drive productivity gains and spur innovation.
Nearly half (48 per cent) of Irish employees surveyed aged 24 and younger are looking to leave.
The largest decline in the survey related to how happy Irish workers are with their benefits.
Only 47 per cent of Irish workers today say their benefits are as good as, or better than, those offered by other organisations in their industry.
This is down from 71 per cent in 2004.
Irish employees place the greatest value by far on base pay – but only 46 per cent say they are satisfied with this pay.
In total 53 per cent believe they are paid fairly given their performance and contributions to the organisation, which is down from 62 per cent in 2004.
Sixty seven per cent of employees understand how their pay is determined, down from 75 per cent in 2004 and 49 percent (down from 54 per cent) believe the pay in their organisation is as good as, or better than, that of other organisations in their industry.
Far more employees participate in bonus plans today (45 per cent) than in 2004 (34 per cent).
Only 34 per cent say they are satisfied with their incentive pay, while 63 per cent are motivated by their organisation’s incentive compensation plan.
The amount of those who say the job security in their organisation is as good as, or better than, that offered by other organisations in their industry has dropped 20 per cent, down from 77 per cent in 2004.
When it comes to retirement, only 40 per cent of Irish employees believe their employers are doing enough to help them prepare for retirement.
Robertson said that employees see a ‘disconnect’ between what employers are promising and what they are delivering.
Organisations should re-examine their deals – both the traditional and non-traditional elements – and then support them with effective administration and consistent, authentic communication that fosters a sense of belonging and helps employees make better rewards choices and career decisions.
The findings from Mercer’s What’s Working survey are part of a six-month campaign entitled Inside Employees’ Minds: Navigating the New Rules of Engagement.