How and why people change jobs - Global Survey 2015
A new report by LinkedIn Talent Solutions has revealed the key reasons why and how people look for new roles. The findings are based on one of the largest behavioral & survey studies of professionals in the world – 7 million LinkedIn members and 10,000+ survey takers. Results indicate the significant difference in how and why candidates change roles dependent on their age, gender, location and industry.
Younger professionals are the most comfortable using online career channels
Results indicated that there was a notable difference in how different generations first hear about a new job. For Millennials (Ages 18-35) Third party website or online job boards were their first port of call. For Gen X (Ages 36-50) it was engagement from a recruiter/agency. For Baby Boomers (Ages 51+) their job search generally starts as a result of a referral from someone they knew at a company.
Key learning? Tailor your message for Millennials (focus on advancement), Gen X (focus on your leadership skills) and Baby Boomers (focus on candidates looking to stay in the same industry).
Reinvention: 1 in 3 who changed jobs, changed careers entirely
34% of those surveyed were Career Changers, moving to a new company in an entirely new function. Why? Because they want to be challenged. 66% were Lateral Movers, new company, same function. Why? They are dissatisfied with the leadership of senior management and want better compensation at new company.
Key learning? Don’t dismiss career changers: Never underestimate the importance of utilising your candidates transferable skills
The study also revealed the impact that location has in relation to sourcing strategies. For instance in North America referrals and online channels were the most common among candidates whereas in Europe agency recruitment is the most common catalyst for people moving roles. In Asia Social Professional networks and Direct Company sourcing are most common.
One factor which did reach consensus across the board was the #1 reason for changing jobs? Career opportunity
When surveyed 45% of professionals named lack of opportunities for advancement as the reason for leaving a role. A lack of satisfaction with the leadership of senior management was also a key factor with 41% referencing this as a reason for leaving. When asked about why they joined their new job, 59% of candidates referenced stronger career path / more opportunity as their driving factor. 42% of those surveyed also felt that more ability to make an impact was a key pull factor in their new role.
Key learning? Invest in your employer value proposition and emphasise opportunity
Size of the company
One interesting trend identified was that professionals joining small organizations value challenge, impact, vision, and culture over remuneration, referencing that the work sounded more challenging and believing in the company's overall direction.
Gender: Women value great leadership, culture fit, and work/life balance
Three reasons outlined as to why women are more likely than men to leave include:
1. Unsatisfied with the leadership of senior management - 44% of women versus 39% of men
2. Unsatisfied with the work environment / culture - 41% of women versus 34% of men
3. Unsatisfied with the work/life balance - 26% of women versus 21% of men
Money is not always the number one factor in why people move roles however with today's war on talent results indicate that employers must prepare to pay with 74% of candidates getting an increase in their new jobs.
Key learning? Be aware of what the market is offering candidates