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New research captures anxieties of employees during the cost-of-living crisis and reveals a north-south divide when it comes to working habits
HOLMDEL, N.J. [28 June 2022] – The future of the office has been a hotly debated topic by politicians and business leaders alike. Some are strident in their belief that the office is dead, but according to new research from iCIMS, the talent cloud company, 70% of the U.K. workforce are working on-site, with a third (31%) preferring to be there full time.
Published today, the iCIMS U.K. State of Talent report captures the anxiety employees feel as the labor market continues to shift, and the cost of living outpaces salaries in dramatic fashion. The findings show how workforce uneasiness is leading to emerging trends that may reshape the future of work.
The “Great Resignation” is swapped for the “Great Return” – employees find solace in the office during times of economic unease
Virtual work environments became standard over the past two years, leading many to report that remote work would redefine the workplace. But, just 23% of British employees want to work remotely full time.
The “Great Return” also has a second meaning – one in three employees who left their job as part of the Great Resignation are now second guessing that decision and are considering returning to their former employer. This presents an opportunity for employers to win back top talent who left, and to find ways to help existing employees continue to grow their career internally before they decide to make a jump with an external opportunity.
Additional findings from the U.K. State of Talent report include:
Cost of living crisis – Employees are enjoying the office, but cost of commuting soars
Throughout the U.K. pay, excluding bonuses, rose by 4.2% between January and March but failed to keep up with rising inflation – which hit 9.1% in June.
Despite the desire to return to the office, many feel financially unable to return. This conflict in desire and financial ability is forcing many to rethink their employer and search for opportunities where their salaries can keep pace with rising inflation. Additional findings around the cost of living include:
Advice for business leaders
Laura Coccaro, chief people officer at iCIMS, offers these insights for employers looking to retain talent or fill vacancies through this evolving market:
To explore the full findings and entry-level hiring trends, download the iCIMS U.K. State of Talent report here. For more data-fueled insights and expertise on how to build strong talent pipelines and teams visit www.icims.com.
Survey Methodology
iCIMS commissioned independent market research company, Censuswide, to survey 1,314 employed people in the U.K. aged over 18 between 26-29 April 2022. Unless stated otherwise, all figures were drawn from this poll.
iCIMS is a leading provider of talent acquisition technology that enables organizations everywhere to build winning workforces. For over 20 years, iCIMS has been at the forefront of talent acquisition transformation. iCIMS empowers thousands of organizations worldwide with the right tools to meet their evolving needs across the talent journey and drive business success. Its AI-powered hiring platform is designed to improve efficiency, cut recruiting costs and build exceptional experiences for candidates and recruiters. For more information, visit www.icims.com.