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Employees ‘prefer’ better pay over job satisfaction

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Employees in the UK see higher pay and improved benefits as the number one reasons for wanting to change jobs, according to a new survey.

The Chartered Institute of Personnel and Development (CIPD) found that 54 per cent of employees considered better pay and benefits as being more important that overall job satisfaction, which had previously been the number one reason for employees to want to change jobs.

This is in marked contrast to last year’s figures, which were 61 per cent for job satisfaction and 48 per cent for improved pay and benefits.

Ben Willmott, senior public policy advisor at the CIPD, said: “The survey shows the impact of the economic downturn in the workplace. Employees are feeling the squeeze as a result of pay freezes or low pay settlements that fail to keep up with inflation.”

He added that those who were looking for employment with better pay were more likely to feel stressed at work and less satisfied with their jobs.

Pressure turns into stress – the feeling of being under too much emotional or mental pressure – when people begin to lose the ability to cope.