Register with us for free to get unlimited news, dedicated newsletters, and access to 5 exclusive Premium articles designed to help you stay in the know.
Join the UK's leading credit and lending community in less than 60 seconds.
Nearly 40% of UK workers plan to quit within a year - led by Gen Z and millennials - driven by a need for flexibility, recognition, and genuine appreciation.
New research has revealed that two-fifths (39%) of UK employees are planning to leave their current role within the next year, signalling a potential wave of workforce movement across industries.
According to a survey by digital gifting platform Prezzee, younger workers are leading the charge, with 55% of Gen Z and 41% of millennials saying they intend to change jobs in the next twelve months. Human resources teams are facing even higher levels of turnover, with 61% of HR professionals actively looking to move - despite nearly three-quarters (73%) of employees receiving a pay rise in the past year.
The findings show that pay increases alone are not enough to keep staff satisfied. While better pay and improved job satisfaction remain the top reasons for leaving, a lack of appreciation was cited by one in four (24%) respondents as a key motivator to quit.
Additionally, workplace flexibility is emerging as a major factor. One in five (21%) remote workers said return-to-office mandates were influencing their decision to seek new opportunities.
For those who plan to stay put, flexibility and feeling valued were the most important reasons to remain. However, the research highlights a generational divide:
Millennials and Gen X prioritise flexible working arrangements.
Baby boomers and Gen Z place greater importance on feeling valued by their employer.
When asked what would increase their loyalty, employees cited greater flexibility, higher pay, and meaningful recognition from their managers. Recognition ranked ahead of traditional incentives such as promotions or broader company culture improvements.
The study underscores how small gestures can make a big difference. A striking 85% of employees said they would view their employer more positively if they received a small but meaningful reward acknowledging their work.
James Malia, President of UK and Europe at Prezzee, commented:
“Pay rises are clearly no longer enough to retain talent; employees want more. They want to feel valued and appreciated for the work they do. Recognition doesn’t have to be grand or costly, but it must feel genuine. If companies want to improve loyalty, they must focus on making employees feel valued — because simple, meaningful gestures show that hard work doesn’t go unnoticed.”
Read more economic updates in our Knowledge Hub.
Get the latest industry news