Almost half of UK workers fear they have missed out on great opportunities because they have been too hesitant about leaving their job.
A poll, of 5,000 full and part time adults, found 64% of those, who have regretted a job move in the past, are now more hesitant about seeking new opportunities.
Some of the top reasons for worker hesitancy include sacrificing work/life balance (29%), losing current levels of flexibility (26%) and getting to grips with new processes somewhere else (18%).
Despite this, almost a quarter (23%) are now considering stepping back into the job market, alongside 11% who are already actively searching for new employment.
Signalling an upcoming shift in the market, 73% of jobseekers will be looking for a new role within a year, while 12% are biding their time until the economic landscape improves.
Doug Rode, managing director UK&I at recruiter Michael Page, part of FTSE 250 PageGroup, which commissioned the research, said: “It’s concerning to see that millions of British workers are experiencing regret over missed career opportunities.
“Nervousness around changing jobs is understandable, but don’t let it hold you back from career growth, higher salaries, and more fulfilling job experiences.
“For those who are considering a move, but not yet taking the steps to do so, I would urge action sooner rather than later. Our research indicates a shift in mindset with many preparing to make bold moves. Economic predictability and a demand for new skills are driving a renewed sense of optimism.
He continued: “There’s pent-up demand in the marketplace due to organisations not backfilling positions in the past year, which could result in a wider selection of opportunities coming to market in the not-too-distant future.
“Candidates that put in the groundwork today will reap the rewards and avoid missed opportunities.”
Compounding feelings of regret, it also emerged that 51% of workers feel like they are stagnating in their current roles.
Two-fifths of those who feel this way also think their wings are being clipped by their employers due to limited prospects for promotions or pay rises, while 27% no longer find the work challenging.
A further one in four (26%) say they have limited opportunities for learning new skills in their current job. However, despite many having frustrations with their current circumstances, the research reveals complex hiring processes can be just as unappealing.
Facing more than two rounds of interviews (38%) and preparing a presentation (38%) are the most off-putting elements. While many aren’t thrilled with the idea of attending an in-person interview (31%) either.
At the application stage, 57% of workers would like employers to be more transparent about salary and benefits in job adverts, and 47% seek more detailed job descriptions.
When it comes to what candidates are looking for in their next role, competitive pay (50%), flexible working hours (41%), and the proximity to home (37%) are the most important factors.
In terms of benefits, workers are keen to understand elements like holiday allowance (51%), pension plans (46%), and training opportunities (29%) before applying, indicating the need for transparency in job adverts.
Rode added: “While the demand for talent remains high, companies must look for every advantage in attracting the best talent out there.
“The importance of first impressions is no secret, with candidates swayed by everything from the clarity of a job advert to the setting of a first interview.
“Employers must remain alert to shifting worker priorities, communicating beyond the day-to-day role, and outlining the company culture, benefits, and opportunities for growth.
“The job application process has evolved, and there are now just as many candidates interviewing potential employers as vice versa.
“For businesses seeking new talent, staying true to your company values and articulating what sets your company apart will help you attract not just the best talent, but the right talent for you.”
