Nearly two-fifths (39%) of employees in customer service roles are likely to look for a new job in January, according to quality assurance platform EvaluAgent.
The study found that 40% of customer service staff are less happy in January than any other month.
It estimated around 5% of customer service workers will leave their jobs in January. Given that there are more than 640,000 people in these roles in the UK businesses could stand to lose around £201,757,500 in January alone, the research predicted.
Employers seemed to underestimate the issue, with 70% of workplaces not believing that staff are more likely to change jobs in January than in other months.
Financial incentives such as salary increases and bonuses were found to be an ineffective retention solution, with 47% of those surveyed saying money wouldn’t affect their decision to stay or leave a company in January. This was especially true for younger workers, with 59% of 18- to 24-year-olds saying that money isn’t an effective motivation.
The researched suggested that businesses should be using employee engagement strategies including regular and timely feedback, non-financial rewards, and healthcare and flexitime.
Jaime Scott, co-founder and CEO of EvaluAgent, said: “High employee turnover in January is a problem for many businesses and can cause significant problems when it comes to productivity and customer satisfaction levels.
“There is a direct link between employee engagement and turnover, suggesting that businesses need to be making far more effort to engage their workforce at this time of year if they are to prevent the annual surge in departures.”
The research was carried out by Evaluagent and the sample was from 1,000 workplaces across the UK.