Higher Pay Luring Away Workers
Despite a downturn in employment growth, more than half of the nation's workers plan to keep looking for a better job, according to Salary.com, a Boston, Mass.-based employment services software firm.
In a survey of over 7,000 employees nationwide, 60 percent said they planned to step up job-hunting efforts, down from 65 percent last year, the firm said.
The most common reason cited for wanting to leave a current job was inadequate compensation, followed by a lack of career advancement and insufficient recognition. Half of the workers surveyed said an 8 to 15 percent salary increase offered by another employer would be enough to prompt them to quit their jobs.
The survey also found that men valued a higher salary more than women, though both men and women counted good relationships with co-workers and managers among reasons for staying with an employer.
"In the wake of a possible recession, employees may be looking for a new job but won't make a move unless they receive a good offer from a stable employer," Salary.com spokesperson Bill Coleman said in a statement. "It's important to keep in mind that compensation may be a key factor as to why employees would consider leaving a job but it's not the top reason they stay in their current job," he said.