Employees Changing Jobs to get a Pay Rise
Over half of employees in the UK feel that in order to get a considerable rise in pay, they must leave their current employer and find work elsewhere.
A survey of more than 4,000 employees across the UK, USA, Canada, France, Germany, Switzerland and The Netherlands found that 47% of employers do not allow employees access to pay data. Further to this, 69% of UK employees felt that they wanted a better understanding of pay for their position and skill set at their company and across the local market, with two thirds of employees in the UK saying they wished they had a better understanding of what pay would be fair for them and a quarter said they don’t have a good understanding of how people are compensated at all levels within their company. Three quarters of UK employees feel that if their employer was more transparent in the pay levels of the company, there would be more employee satisfaction and it would be good for business.
There seems to be a perception among employees that the grass is greener elsewhere, which should be a warning to employees. Around 57% of UK employees stated that they needed to switch companies to get a pay rise; this is seen more often in younger employees (65% of those aged 18-24 and 62% of those aged 25-24) rather than their older colleagues (43% of employed aged 55+).
From all employees surveyed, there appears to be a divide along gender lines in the UK, with more men (64%) than women (55%) believing they had a good understanding of how people are compensated at all levels within the company they worked at. The majority of women remain unaware of fair pay for their particular role.