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How much is your loyalty worth?

Staff Writer

 ·4 Jun 2014

It would take an average 17.1% increase in their current monthly wage to convince South African employees to switch jobs, representing R2,550.

This is according to global advisory firm CEB’s global labour market briefing, and is well above the global average, as among 18,000 survey respondents, CEB pointed to an average increase of 8.6% required to convince employees to change jobs.

This figure was up from the 7.7% in the last quarter of 2013, but lower than the 10.3% in the corresponding period in 2013.

CEB’s data shows that about 20% of all employees are active job seekers, with most being found in developing and emerging markets. India and South African workers showed the highest rates of active job seekers, while Germany and Japan’s workforce was more passive.

In South Africa, 509 employees took part in the survey.

Stats SA’s Quarterly Employment Survey for December 2013 shows that South Africa’s 8.5 million employed workers earn an average of R14,911 per month (December 2013). That means that kicking up wages by R2,550 (to R17,460) would be enough to convinces the average worker to switch jobs.

According to CEB, Indonesians require the biggest increase to change, at 20.6%, while employees in Germany and the Netherlands require only a 3.9% and 2.8% increase, respectively.

When looking at the most important attributes at a place of employment, South African workers sought stability above everything else, followed by compensation.

Health benefits and retirement benefits were listed as the least important attributes for South African workers.

For a large portion of the global workforce, compensation is the most important aspect of a new employment opportunity, with a healthy work-life balance also ranking highly.

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