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New research has shown that there aren’t as many people looking for a new job in the new year compared to previous years.

The Totaljobs survey of 2,000 UK workers revealed that just eight per cent of Brits are planning on looking for a new role this January, while only 31% plan on finding a new job in 2023 – this figure stood at 89% this time two years ago.

According to the report, higher salaries are the top driver behind job searches; unsurprising considering the current cost-of-living crises. As many as 62% said that they are more likely to ignore a job advert that doesn’t disclose salary information.

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Steve Warnham, Senior Researcher at Totaljobs, commented, “The key factors impacting the recruitment market in the New Year include employees’ want and need for a higher salary to ensure their financial stability, coupled with a recession-fuelled hesitancy to change jobs.

“However, the employment market remains resilient, with historically high levels of job vacancies. So, despite understandable caution from candidates, our research suggests that businesses need to ensure they are doing their best to promote their job vacancies and engage potential hires.

“Alongside this, setting fair and transparent salaries, and promoting the support and non-monetary benefits available to staff, will be key to ensuring businesses can continue to plug skills gaps and bounce back when the economy recovers.”

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