Jobseekers rate pay over job satisfaction

Better pay has overtaken job satisfaction as the main reason people try to change jobs according to a report by the CIPD, which found that 54% workers say that better pay and benefits is their top reason for wanting to change jobs as the cost of living rises.

Last year job satisfaction was the top reason, with 61% rating it as the most important factor. This has now fallen to 42%.

Of the 2,000 employees surveyed, 36% reported that their standard of living had declined over the past six months, and one in five said that they struggled to keep up with bills and financial commitments because of pay freezes and pay settlements below the rate of inflation.

Financial difficulties add to employees stress and their feelings of dissatisfaction with their jobs.  In the longer term this may affect sickness absence, mental health and accident levels.

Providing advice and support on debt management and financial planning may help with employee engagement.