CIPD’s latest Good Work Index has revealed that 2023 has seen no significant improvement in working lives. In fact, job quality has regressed in some ways. Not only are UK employees seeing jobs as purely transactional, but they are also not keen on working hard and instead want to do the bare minimum.
However, it is not all bad as 2023 has seen better job opportunities and improved career development. In addition, people are also more confident about changing jobs and finding opportunities that better suit them if they feel stagnant. The 2023 Good Work Index explains all the ups and downs in the UK workforce and also offers practical advice that organisations can incorporate.
The Problem of Over Qualification
About one-third of the surveyed respondents feel like they are overqualified for the job they do. This is not just something that has been reported for the first time. Over the last few years, there have been several reports of overqualified graduates not being able to find jobs that suit them.
In 2017, the Office of National Statistics reported that 31% of graduates were more qualified than the roles being advertised. Additionally, London had the highest percentage of overeducated workers in the UK at 25%. Just last year, CIPD reported that in the past 30 years, there has been an increase in graduates working jobs where graduate-level qualifications were not needed.
In this recent report, CIPD found that while most employees feel that their job offers them resources to develop, about a third of them don’t feel they have good prospects for advancement. However, while this has been the case since 2019, CIPD did find that a number of employees have a better idea of what skills they have and need.
Employers Need to Take Specific Action
CIPD has also added recommendations on how managers and organisations can reduce the mismatch of skills and opportunities. One of the suggested recommendations is conducting a skills audit to understand what skills are present within the workforce and how they can be utilised.
In addition, they have suggested reviewing the jobs and team structures people are in to identify where skills can be optimised. Recruitment processes also need to be revisited so that people are hired appropriately and for jobs that are truly suited to them.
One-Fifth of Respondents Likely To Quit Within 12 Months
Adding on to the lack of prospects bit, surveyed employees also said they are keen on quitting in the next 12 months. The number one reason for moving jobs they mentioned was for better pay and opportunities. Other than that, employees don’t mind quitting for job satisfaction and better work-life balance.
However, while many would want to move jobs, the survey revealed that they are unable to. Employees said that while they want to leave, the options beyond their current job are too limited.
As a recommendation to correct this, CIPD has urged organisations to review what they are paying employees frequently. Even when jobs are being advertised, they have suggested being transparent about the pay.