60% of professionals admit to 'rage applying' to new role; amidst peak frustration with employees

60% of white collar professionals have admitted to:- 'rage applying' to a new job since the beginning of the year; with a toxic workplace culture (56%) being the primary motivating factor. The trend; which has seen a spike since New Year appraisals; occurs when professionals retaliate to a bad day at work, by firing out multiple applications to new job roles.

Of those who admitted to rage applying in the past 6 months, 40% stated that they had applied to multiple new roles within a short space of time. The findings come from a recent poll by staffing firm Walters People, of 2,000 UK professionals.

The leading issue provoking rage; appliers is a toxic workplace culture; with 56% of professionals stating this was the primary reason they took to the keyboard to apply for new jobs.

20% of workers blamed an unmanageable workload, followed by 18% who state that poor work life balance continues to be an issue.

Just 6% said that a disagreement with management led to them rage applying in the past 6 months.

Janine Blacksley, Director of Walters People, comments:- "By and large it continues to be a candidate driven market; with more jobs than people available; so:- 'rage applying' is really something that most employers cannot afford to happen. Interestingly it is not issues relating to pay or progression that is creating this knee-jerk reaction; but the work environment itself, something well within the control of the employer. Toxic workplace cultures can very much be invisible, but the knock-on effect to employee happiness is significant; from a staff members mental and physical safety in the workplace, productivity levels, ideas generation and innovation. As a result we are increasingly seeing more 'culture matches' in the hiring process; where both the company and prospective employee are vocal about what kind of worker or workplace they are looking for."

According to Walters People, working for an inspiring company culture and colleagues is the number 1 thing that attracts professionals to a job advert; ahead of flexible work and enhanced benefits packages.

Janine top tips on how to improve a toxic work environment:-

1. Put it high on your management; ensure that managers are well aware that team morale and a positive work environment is a core responsibility of theirs. Business leaders should raise this in management meetings often, as well as asking managers what type of activities / initiatives have taken place in the last month to encourage inclusively.
    

2. Launch anonymous feedback surveys; a fairly basic initiative that simply not enough employers do! Find out how your employees actually feel, and ask open ended questions on culture. Take time to read all of these comments to get a steer on what is actually going wrong.
    

3. Invest time and money; culture does not come for free. Fact is the workplace is made up of a set of people bought together because of their varying skillsets; not because they would necessarily make good friends. As such, companies need to put more effort into helping to create a friendly, social and inclusive environment; these things often don't happen by chance.

Over a ¼ of women have no pension savings

FEWER women than men have pensions, and those who do are saving less than their male counterparts, reveals independent research conducted on behalf of Handelsbanken Wealth and Asset Management.

Handelsbanken Wealth and Asset Management's report, Can we solve the gender wealth gap? highlights the disparity in retirement savings between men and women, revealing that 26% of women have no formal pension savings at all, compared to just 16% of men.

Women's pension pots were found to be substantially smaller too. The average pension across amounts for all respondents stood at:- £103,037. However, male respondents' pension pots were found to be significantly higher, averaging at- £142,234, while women's came in at just over a third of this, at an average of:- £51,384.

It is therefore unsurprising that only 23% of women surveyed stated they are confident that they will be able to retire comfortably, with 35% believing they won't be able to.

However, there are signs that things could be turning around for the next generation. While women over the age of 40 are generally less likely to have a pension than men of a similar age (63% vs 80%), men and women in their 30s were found to be equally likely to have a pension (77%). For adults under 30, women were found to be more likely to have a pension than men (76% vs 59%).

The research also revealed that most people tend to leave the management of their pension to their workplace pension provider (45%). Men were slightly more likely than women (43% versus 37%) to manage their own pensions, such as via a self invested personal pension scheme (SIPP).

However, 56% of those who self manage their pensions admitted that they seldom check their retirement savings; of which 64% were female.

Christine Ross, Head of Private Office (North) and Client Director at Handelsbanken Wealth and Asset Management, said:- "Women on average continue to remain a long way behind men in pension savings, with the problem at its most acute among older generations who are closer to retirement. After decades of gender disparity, it's encouraging to finally see clear evidence of change, with pension take up reaching parity among thirtysomethings, and women in their twenties ahead of their male counterparts. The recent steps taken at a Government level have the potential to further close the gender pensions gap, including the free childcare scheme expansion announced at the Spring Budget, which should allow more working Mothers to return to the workplace and build their pension savings. But despite signs of progress, there is still considerable work to be done. Education around pensions needs to be improved, as does women's confidence in financial products. We strongly encourage seeking advice on long-term financial planning where possible, to ensure that the plans you have in place are fit for purpose on an ongoing basis. Generally, it is important to review your pension regularly and to top up your workplace pensions where possible. If you're unable to pay into a formal pension, there are plenty of other options to consider, including:- ISAs, which offer tax-free savings."