It has been reported that fewer workers are resigning and more are opting to stay put in their current jobs, in what labour market experts are calling ‘the Big Stay’.
James Cockett, labour market economist, has commented that the ‘great resignation’ following the pandemic is over and has been replaced by ‘the big stay’, with more workers prioritising job stability. James Cockett also commented that falling staff turnover and vacancies means that the balance of power in the labour market is tipping in favour of employers and against workers.
Mr Cockett predicts that there are likely to be further declines in staff turnover and vacancies in 2024, and commented that it is more important that employers invest in existing staff through upskilling and development opportunities.
In the midst of economic instability and the cost-of-living crisis, it is perhaps unsurprising that workers want to stay in their roles and prioritise job security. It is true to an extent that employees who stay in their roles for longer are more likely to have better job security. If an employee feels they have been dismissed by an employer unfairly, they must have at least two years’ continuous service for the employer before they have a right to submit an unfair dismissal claim to the Tribunal. As a result, employees who are dismissed for unfair reasons or as a result of an unfair process within their first two years of service are effectively left without legal protection.
If a worker feels that their dismissal by an employer is an act of discrimination, they can submit claims to the Employment Tribunal for discrimination regardless of their length of service. This does afford some legal protection to workers who have been employed at a company for less than two years, an employer cannot dismiss a worker in breach of discrimination law regardless of how long or short a period the worker has been employed for.
Of course we wait to see what the next Government does in relation to the length of time workers must serve to get protection against unfair dismissal. This is something that has often changed when governments change.
