Magazine article Management Services

Accelerating Labour Turnover Points to New Confidence among Key Groups of Workers

Magazine article Management Services

Accelerating Labour Turnover Points to New Confidence among Key Groups of Workers

Article excerpt

"The latest turnover figures reveal a tightening labour market which has encouraged key groups to seek new job opportunities during the course of last year," says Oonagh Ryden, the IPD's specialist adviser on Pay in response to the findings of the Institute of Personnel and Development's (IPD) latest Annual Labour Turnover Survey. Turnover, - the movement of people in and out of jobs - has increased to the extent that more than one in three craft and skilled manual workers (34.7%) and sales staff (34.6%) have moved jobs in 1998. Professionals such as lawyers, accountants and engineers have also seen turnover increase by 8% to 27% last year.

Overall economy wide turnover is relatively stable at 20.6% for 1998 compared with 19.8% the previous year. However, there has been a reduction in part time turnover rates of 3 percentage points and a slight increase for full timers of 1 percentage point. The general increase in turnover and the marked upward shifts for professionals, associate professionals and craft and skilled manual workers have been driven by the UK's two speed economy. On the one hand the professionals and associate professionals have been enjoying a tightening service sector labour market where their skills are much in demand. Whereas for those in manufacturing, major job losses were sustained throughout the last 18 months leading to high turnover among the craft and skilled manual occupations.

As Oonagh Ryden comments, "The state of the labour market is encouraging for many groups of workers who clearly feel more confident about their future job opportunities. …

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