An interesting September article in the Recruitment Grapevine discussed a global LinkedIn survey revealing exactly why people swap employers and the importance of this information to recruiters and job seekers alike. The motivation to move on is fuelled by much more than money.
The study analysed the behaviour of seven million LinkedIn members. It showed that the number of active job seekers has grown by 36% since 2011. In addition, the number of potential job seekers who have started to reach out to recruiters, or through their personal network, but who aren’t actively looking for new employment has increased by 16% in the past four years.
LinkedIn surveyed over 10,500 people from all over the globe to understand why people changed jobs. The people polled said that a lack of advancement opportunities was a reason for swapping employer. 45% stated that it was their main reason for the career move. 41% said that they were unsatisfied with the leadership of the senior management. 36% said the same about the work culture.
Esther Lee Cruz is an Insights and Content Marketing Manager at LinkedIn, one of the people behind the report. She comments in the Recruitment Grapevine article that most of the job seekers are drawn to smaller companies.
“But they’re not necessarily looking for more pay,” Cruz says. “Respondents to the survey cited challenging work, the ability to make an impact, and belief in the company’s vision among their top motivators.”
“Larger companies don’t have to concede top talent to their smaller competitors, though. To catch the eye of the entrepreneurially-minded professionals, big business recruiters should infuse their employee value proposition with small business traits.”
Understanding people’s motivation for moving jobs is crucial for recruiters. If we know this then we can help clients attract and retain top talent and match people to their perfect long term job and employer. The study also underlines the high value put on culture and leadership within a company proving in combination to be more important to the majority of employees than career advancement and salary increases.