Retention & Talent Attraction

COVID-19 may have significantly impacted the following results. We understand from our experience that professionals in a permanent role are less likely to change roles in the current climate, as people tend to become more risk averse during uncertain times. On the other side, we haven’t seen much change in motivation amongst contract professionals. The following figures, collected pre-coronavirus, indicate that in comparison to our study in 2017 attitudes have remained the same at a European level, so what would this for the European market?

How likely are you to change jobs in the next 12 months

Our European-wide study found that 61.5% of our respondents in a permanent position claimed to be “extremely likely”, “very likely”, or “likely” to look for a new role. In 2017, that percentage was 61%, highlighting minimal change in attitudes towards moving roles over the past few years.

Permanent


Contract

Contractors are probably most likely to be on the lookout for a new project assignment.

79.5% of respondents said they were, “extremely likely”, “very likely”, or “likely” to find a new role.

So, what does this mean?

Across Europe, the appetite for relocation has remained at a consistent level within the medical devices space. From a UK perspective, it makes sense that attitudes would remain similar while the country waits to learn more about what Brexit means for the country long-term.

In terms of relocation, current regulations and lockdowns make it harder to relocate. On the other hand, knowledge can still be transferred worldwide due to remote working solutions. This means that not being able to relocate doesn’t mean that one can’t work for a company abroad. The future will tell whether this will be a lasting trend or not.

Retention per country

Retention should be considered an important issue across the whole of Europe, there is likely a correlation with job security.

Our respondents were asked: how likely are you to change jobs in the next 12 months.

Medical Devices

Extremely Likely

Very Likely

Likely

Unsure

Unlikely

Extremely Unlikely

Motivations for changing roles in the EU

To gain a clearer insight into the way companies could make changes in order to improve employee retention, we asked our respondents why they may be likely to consider a move.

Interestingly, the prospect of new opportunities is the biggest factor motivating Europeans to look for a new role, with 36.3% of respondents mentioning this.

Coming in a close second was increased salary or pay (33.2%). When we look at the differences between contractor and employee motivations, pay was the most important factor for permanent employees. For contractors, it fell behind project uncertainty, work-life balance, and new challenges.

Interestingly, in comparison to our 2017 survey, respondents do seem more motivated by pay in general, as somewhat surprisingly, our 2017 survey only had the issue ranked as the sixth most popular factor.

We expect to see a change in employee motivation for relocation for 2020 and onwards. Instability could imply that people remain in their position, perhaps longer than they wish to be, but the situation is too uncertain to switch at this point.