Top execs don’t want to stay in Britain.
That’s the latest finding from career and recruitment service Experteer, which has surveyed its senior-level professionals and found that there’s not much to keep them in the UK.
Over 70,000 of its senior level professionals switched jobs in the 12 months before 2011, and 15 percent of them went abroad. It’s a trend that has continued since the global recession reared its ugly head in 2008.
In the past year, says Experteer, 26 percent of execs in the UK left for a different country. That’s compared with seven percent in Germany, Italy and Spain. According to the survey, Britain is the second biggest exporter of talent just behind central and eastern Europe.
The jobwatchers say it’s no surprise considering the dire nature of the domestic market in old Blighty – the economic recession is leaning hard on everyone, including senior execs whose paycheques aren’t as fat as tehy’d like. Then there are other factors like living standards – with public sector spending cuts – and introducing the 50p top personal tax rate introduced in 2010.
Experteer says combined, it results in making the UK one of the last places execs would want to settle. That makes it less competitive internationally.
Senior level staff flocked for the most part to Germany. The second biggest lot to escape Cameron’s corral spent their air miles and avoided Europe altogether. Third place was France.
Switzerland managed to bring in the most imports of senior level professionals and is the most popular country for execs from Germany, France and outside the Eurozone.
15 percent less professionals decided to come to Britain, and a third were from outside Europe. Experteer notes that the biggest pay gap between high earners and low earners is in the UK.