Research by the Office of National Statistics (ONS) shows that the total of job-to-job moves increased to a record-high of 994,000* during the January to March 2022 period. With the ‘Great Resignation’ still in full swing and employees looking for alternative work, the experts at the Lloyd’s Bank British Business Excellence Awards have conducted research to find out what would keep them loyal in a company. The experts conducted a survey to 2,450 UK adults, over the age of 18, who say that they’re in employment.

It was initially found that just over four in five considered the offering of hybrid working to be an important factor in remaining loyal to their current company (81%), with nearly nine in ten claiming cost-of-living and travel related expenses as a reason behind this (89%).

What’s more, when asked if they had considered leaving their position in the last three-months, 69% responded yes, with two in five stating that they are currently ‘actively looking’ (40%).

When asked about the reasons that would influence their loyalty to a company, the most common reasons are:

1. Hybrid work options (81%)

2. Increased direct pay (74%)

3. Healthcare incentives (17%)

4. Positive management rapport (38%)

5. Gratitude from management (9%)

Respondents were also asked to reveal the biggest obstacles that they’ve struggled with in the world of work, the most common obstacles are:

1. Work-life balance (41%)

2. Cost-of-living (38%)

3. Commuting expenses (32%)

4. Personal health (23%)

5. Childcare needs (11%)

There is high pressure on the business market in the UK, with over 1.3million unfilled jobs** and studies suggesting up to 20%*** of employees have been brought back to full-time office-only work, the level of job-to-job employment switches looks set to continue.

Sarah Austin, Founder and Director of the Lloyd’s Bank British Business Excellence Awards, comments:

“The study itself has been incredibly illuminating, specifically highlighting the trend between employee desire for hybridisation rising above direct pay incentives, suggesting that both cost-of-living and work-life balance are important to employees.

“The research by ONS that shows the record-high job-to-job moves taken by employees is a significant figure, suggesting that companies are struggling to maintain employee confidence or instil a degree of professional ‘loyalty’ throughout their team. Industries that can offer hybridisation, offering two days a week from home, should consider doing so, as this is evidently an area of great importance to employees across the country.

“Resisting change and failing to adapt to a business landscape almost unrecognisable when compared to pre-pandemic operations, will only leave your employees to see one of the UK’s record 1.3million job openings and consider taking the plunge.”