The desire to travel after the pandemic and Brexit could see the South East’s small businesses face a major workforce shortage as employees rush to leave the country for permanent overseas residence, as revealed by people management platform Employment Hero.
56% of workers in the South East are considering taking a job overseas, with the main motivator being to travel. More than a third of the South East’s employees are currently looking at international positions because they know that they can earn a higher salary, while 27% feel that there are better career opportunities overseas. A third say they are bored with their current location.
When questioned, 43% of employees across the UK said a salary increase would convince them to remain in the UK in their current role, while over a quarter (26%) named a promotion or more rewards (25%) as enough to make them stay put. Just over a fifth (22%) would remain for a bonus or the introduction of a bonus structure.
A change in management would see 20% of British employees reconsider their current international job search.
The data points to two clear, urgent strategies that must be adopted in order to retain staff:
● Demonstrate appreciation for employees: Through salary increases, performance reviews and management updates
● Pivot to a global hybrid working model: By embracing a ‘work from anywhere’ model, which has become more desirable in the past two years
Ben Thompson, CEO at Employment Hero, said:
Priorities are evolving, and people want to balance their work-life with one that opens up opportunities to learn new cultures and languages, live in new environments, and explore the world now that this is a possibility once again.
“The anxiety around job security is falling away. Employees are aware that job vacancies are growing as the economy strengthens once again and that more choice is becoming available to them. Business owners must act quickly to show their staff not only that they are valued, but that their companies are ready and equipped to accommodate the skyrocketing demand for the hybrid work model, if they wish to work elsewhere.
“This is the only way that UK businesses will be able to hold on to their valued staff and continue on the road to economic recovery.”