Recruiting experts Hays have found 38 per cent of Australian employees plan to look for a new job in the next 12 months. The claim is based on findings in the recruiter’s FY21/22 Hays Salary Guide. The figures suggest another 39 per cent of the more than 3,800 professionals surveyed are open to new opportunities.
Among the reasons for this shift is the lack of promotional opportunities, cited by 43 per cent, ahead of an uncompetitive salary (39 per cent). Other factors driving people into the jobs market today include a poor management style or workplace culture (37 per cent), a lack of new challenges (33 per cent), concerns about job security (also 33 per cent) and poor training and development (25 per cent). Moreover, Hays found that only 46 per cent are satisfied with their current job. Just 49 per cent and 55 per cent are satisfied with their current employer and direct manager respectively.
“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,” says Nick Deligiannis, managing director of Hays in Australia & New Zealand. “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 a gap in salary increase expectations between organisations and their employees.”
Career progression has become an important benefit to skilled professionals. According to Nick, a career progression plan is an essential selling point for employers in securing their preferred candidate and retaining top talent.
“Many professionals feel that their career stagnated over the past year,” he explains. “They put their career plans on hold to help their organisation through the crisis and recover. Now, they are focused on their career again and are prioritising advancement.”
But while career progression is valued, the data from Hays shows just 16 per cent of employees expect to receive a promotion in the next 12 months. Furthermore, they have developed their soft (46 per cent) and technical skills (45 per cent) over the past year, while 21 per cent gained higher or additional qualifications.
“This upskilling has put professionals in a strong position to jump ship if their career goals can’t be achieved in their current workplace,” Nick concludes.