57% of employers to lose staff in H1 2023
CORK, IRELAND — Over half, or 57%, of employers globally believe they will lose staff in the first half of 2023 due to higher earning potential in other companies.
According to new research from talent services expert Morgan McKinley, 53% of employees across Australia, Canada, Hong Kong, Ireland, Japan, China, Singapore, and the United Kingdom (UK) are looking to move jobs in the following months, with 45% citing “higher salary” as their main reason.
The report revealed that 69% of global employers offered “higher-than-expected” salaries to new employees over the past 12 months to combat this dilemma.
Furthermore, 70% of employers think that salaries in their specific sector will rise again in 2023, with 44% planning on increasing base salaries across all teams.
At the same time, 63% of global businesses plan to hire new permanent, contract, or temporary workers in the next six months.
Morgan McKinley Group CEO Seb O’Connell said, “We expect to see a slight recalibration of salaries this year compared to 2022, but top talent can expect to see their pay rise when moving roles.”
O’Connell added that “a skills shortage remains in many sectors across the globe, creating a ‘bidding war’ between companies to secure talent and from current employers to hold onto their staff. Combined with high inflation and increased living costs, there is upward pressure on salaries in many countries.”
