A new year survey by Glassdoor.com has revealed that salary is the number one reason why employees change jobs.
The research, conducted among 750 hiring decision makers (those in recruitment, HR and responsible for hiring) in the U.S. and UK, found that nearly half (45 percent) note that salary is the top reason for employees changing jobs, followed by career advancement opportunities, benefits and location.
While two-thirds (64 percent) of those surveyed believe their organisation is satisfactory at clearly setting pay and benefit expectations within job postings, salary ranges are still unclear, with fewer than one in 10 job listings including pay data in the job description.
More than one-third (37 percent) of hiring decision makers say retention rates would increase significantly if new hires were better informed during the hiring process.
Carmel Galvin, Chief Human Resources Officer at Glassdoor, said of the findings: ‘Pay can be a big motivator for employees to take the job, however, very few job listings actually include pay information, even if this is overwhelmingly what job seekers want. If candidates were better informed about how their pay and career could progress during the initial job search and recruiting process, they would be less likely to take a job that turns out to be a bad fit.’
Meanwhile, nearly half (48 percent) of hiring decision makers note salary and compensation are the most influential factors for a candidate’s decision on where to work.
