Security, salary and purpose - what employees want in 2023

THE PANDEMIC. HYBRID WORKING. THE GREAT RESIGNATION. QUIET QUITTING...

Over the last few years we have seen seismic changes in the labour market. For the first time in a long time, it’s employees and jobseekers who have been in control, able to choose roles that work for them, and prepared to walk away if they don’t get the career opportunities and personal satisfaction they seek.

But is that still the case in 2023? We commissioned an independent research survey which has revealed changing prioritises in the face of the recession.

In June to August 2022, the total number of job vacancies in the UK was 470,000 (59.1%) above the January to March 2020 pre-pandemic level. The last few releases from the ONS have shown a fall, potentially as recruitment budgets look set to tighten with the looming recession, but vacancies remain high.

Half (49%) of those surveyed are concerned or very concerned about reduction in pay value and pay freezes, to the extent that they are unwilling to risk taking career risks. Despite the recent narrative that it’s a candidate driven market, candidates are feeling less confident that they are in the driving seat. Half (48%) say they are concerned or very concerned about trying to make a move in the current climate.

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