New Year, new employees? Two thirds of finance professionals plan on moving jobs in 2020

Are you worried about your employees leaving your company in 2020? Well, according to the latest research from CV-Library, the UK’s leading independent job board, there may be cause for concern, as 64.1% of finance professionals admit that they want to find a new job in the New Year.

The study, which surveyed over 2,000 UK professionals, reveals that 84.6% of workers in the industry think the New Year is a perfect opportunity for a fresh start. It asked respondents to outline the resolutions they want to achieve in 2020, with the top ten including:

  1. Find a new job – 64.1%
  2. Earn more money – 51.3%
  3. Lose weight – 48.7%
  4. Learn a new skill – 38.5%
  5. Start saving money – 38.5%
  6. Improve their mental health – 30.8%
  7. Move to a new house – 28.2%
  8. Take on a new hobby – 25.6%
  9. Get a promotion – 20.5%
  10. Learn a language – 15.4%

Lee Biggins, CEO and founder of CV-Library, comments: “The start of the New Year is consistently one of the most popular times for people to look for a new job; and this is a positive if you’re looking to attract more candidates to your jobs. At the same time, it also means you’re at risk of losing talented team members to the competition.

We can see from our findings that there are a number of other priorities for finance professionals in 2020, such as earning more money, learning a new skill and getting promoted. While you may not be able to stop people from moving on, you can help them to reach other goals by offering competitive pay, appropriate training and career progression opportunities.”

Interestingly, the data also reveals that there were some stark differences in what the nation’s generations considered as most important. Indeed, 69.8% of 25-34 year-olds are keen to earn more money in the New Year, compared to just 51.5% of 55-64 year-olds.

Alongside this, losing weight was the number one priority for under 18s, while only 38.7% of 25-34 year olds and 28.9% of 35-44 year olds felt this was important.

Biggins continues: “Understanding what your employees want from their careers is important and this can really help to set you apart as an employer of choice. If you’re responsive to your employees’ needs and do everything in your power to help them reach their career resolutions, they’ll be more likely to stay with your company for the long run.

At the same time, it’s a good idea to make the most of the fact that people are planning on finding a new job in 2020. With banks across Germany, UK, France, Spain and Switzerland slashing 60,000 jobs collectively, it has never been more important to make the right hire. Get prepped by perfecting your job adverts and ensuring you’re advertising these in the right places.”