Research from HiBob, the company behind the innovative HR platform Bob, reveals that work-related stress is a significant concern for UK employees, with 20% of respondents feeling burned out at work and 29% admitting to significant stress. This unsettling state of employee wellbeing could contribute to a significant forthcoming shift in the UK job market.
The research highlights that, come 2024, a severe job shift is expected. 70% of UK workers plan to seek new employment, with over a quarter of those planning to do so within the next six months. The primary driving force behind this prospective tidal wave of job changes is the desire for improved work-life balance, a factor stated by 17% of respondents.
Going into the new year, UK workers are identifying more holistic motivations behind their workplace commitments. Almost a third (30%) indicated that the most substantial motivation while at work is proper support for a work-life balance, outpacing those primarily motivated by working towards a salary increase or promotion (29%).
The beginning of 2024 will witness British workers taking a newfound control over their work-life balance, with a fifth (22%) planning to set boundaries and say 'no' more often. This freedom to decline is specifically geared towards requests that would extend working hours, lead to working late, or expand workload beyond originally agreed parameters.
However, while work-life balance is indeed a priority, it does not translate into a massive shift towards working from home. Only one in ten (11%) plan on increasing their work-from-home arrangement, with the overwhelming majority (88%) intending to maintain an office-based or hybrid working model.
The leading factors for people choosing to work in the office include separating work from home (20%), facilitating collaboration and teamwork (19%), access to resources (14%), and free heating during winter (13%). Despite these driving forces, two-fifths (40%) of UK employees express concern over increased travel costs, should a return to the office be mandated.
Ronni Zehavi, CEO and Co-Founder at HiBob, commented on these findings: "As we head into 2024, our research shows that employees across the UK are feeling stressed, burned out and are reassessing what they want from their workplace and employer. While pay increases aren't always possible during times of economic headwinds, these insights make it clear, at a time when there is a war raging for attracting and retaining top talent, supporting employees' work-life balance is going to be a key differentiator for businesses in 2024."
This comprehensive research by HiBob indicates a demanding 2024 for employers, with workers' mental well-being and work-life balance set to be pivotal factors in staff retention, job satisfaction, and overall workforce harmony.