Newly published research illustrates that as many as 38 percent of Australian workers intent to quit their jobs over the new 12 months. This same survey revealed that a further 39 percent of workers admit to being open to new opportunities.
Some of the reason’s workers were keen to look for new positions of employment included; a lack of promotional opportunities at 43 percent and an uncompetitive salary at 39 percent.
In comparison only, 46 percent of respondents admitted that they were satisfied with their current position of employment. 49 percent and 55 per cent of workers reported feeling satisfied with their current employer and direct manager, respectively.
As the new financial year quickly approaches us, often at this time of year traditionally there is fresh activity occurring in the jobs market as new budgets are set and employers look to add to their headcount.
The End of Financial Year similar to the start of the new year is also a seasonal peak time of the year for people to review whether they should stay or change jobs.
For employers, this impending movement of people will add to their staff retention challenges, which are already heightened in response to a gap in salary increase expectations between organisations and their employees.
As a direct consequence of the covid-19 pandemic a large number of professionals feel that their career stagnated over the past 12 months. They put their career plans on hold to help their organisation through the crisis and recover. As Australia recovers from the covid-19 pandemic employees are now starting to focus on their own individual desires as a worker and are once again beginning to prioritise professional growth and the advancement of their career.
Data from the survey also illustrated that only 16 percent of those surveyed expected to see a promotion over the next 12 months, despite the overwhelming appetite for them among respondents.
Many employees across the country feel that the ramifications of the covid-19 pandemic has offered them a more favourable work/life balance and many workers would like to continue working from home in some capacity, while more than half are looking for new opportunities.
Employers must be aware of the current climate. Candidates who are applying for new jobs not only strive to attain career progression and new challenges, but they also desire to have a safe and secure environment with the flexibility that they have become used to over duration of the covid-19 pandemic.
Recently published research also discovered that over 87 percent of respondents emerged from the chaos of the pandemic wanting to continue working from home at least one day per week. Many of these respondents cited that newly-found hybrid working arrangements as a “silver lining” of the pandemic’s impact.
Only 12 per cent of the workers surveyed reported not wanting to work from home at all. A majority said that the change has offered them a work/life balance previously unavailable to them.
Avoiding daily commutes and being provided with the opportunity to work on house chores during lunch breaks were also common answers in favour of the change. Meanwhile other respondents simply felt more comfortable working from their home offices.
The team at C&D Restructure and Taxation Advisory are here to help. As part of the Vault Group we can offer the full suite of financial products and advice to help you navigate the business landscape. Schedule a meeting here via Calendly or give us a call on 07 36086800.
The team at C&D Restructure and Taxation Advisory are here to help. As part of the Vault Group we can offer the full suite of financial products and advice to help you navigate the business landscape. Schedule a meeting here via Calendly or give us a call on 1300 1 VAULT (1300 182 858)
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