Why are 40% of Aussies looking for new jobs this coming year?
New research from global recruitment firm Hays shows that two-fifths of Australians plan to find new jobs in the next 12 months.
According to data from the 2019-20 Hays Salary Guide, 40 per cent of Australian workers want to find a new employer in the coming year, with another 28 per cent unsure if they want to stay where they are.
The main reasons given were: a lack of promotional opportunities (cited by 53 per cent of respondents), a lack of new challenges (42 per cent), an uncompetitive salary (41 per cent), poor training and development (27 per cent) and a poor work-life balance (27 per cent).
Furthermore, Hays found that only 44 per cent of Australian workers are “very satisfied” or “satisfied” with their current jobs, just 47 per cent and 54 per cent are “very satisfied” or “satisfied” with their current employers and direct managers, respectively.
Hays Australia and New Zealand managing director Nick Deligiannis said: “A new financial year is fast approaching, which traditionally brings fresh activity to the jobs market as new budgets are set and employers look to add to their headcount.”
“Financial year end, like 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 movement of people will add to their staff retention challenges, which are already heightened in response to subdued wage growth, Mr Deligiannis continued.
“One-third (33 per cent) of employers have already told us they’ve seen their staff turnover rate rise in the last 12 months. With many people clearly not content in their current position, this figure will likely rise further as people look for a new job to improve their career prospects,” he posited.
Jerome Doraisamy is a senior writer for Lawyers Weekly and Wellness Daily at Momentum Media.
Before joining the team in early 2018, Jerome is admitted as a solicitor in New South Wales and, prior to joining the team in early 2018, he worked in both commercial and governmental legal roles and has worked as a public speaker and consultant to law firms, universities and high schools across the country and internationally. He is also the author of The Wellness Doctrines self-help book series and is an adjunct lecturer at The University of Western Australia.
Jerome graduated from the University of Technology, Sydney with a Bachelor of Laws and Bachelor of Arts in Communication (Social Inquiry).
You can email Jerome at: [email protected]m.au
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