At this time of the year employees start getting itchy feet. Two surveys released yesterday have some sobering findings for employers.
A national survey commissioned by recruitment company final5 has found that:
- 48.5% of respondents would leave or quit their job in the New Year.
- Those aged 18–34 were significantly more likely to leave their jobs (59.7%) than those aged 35–54 (44.2%).
- More part-time workers indicated that they were “very likely” to move to a new job (23.3%) compared to those working full time (11.8%).
The three main reasons for wanting a new job are:
- Seeking more money (18.7%).
- Bored, want a change, and it’s time to move on (14.6%).
- Seeking further career advancement (10.1%).
final5 general manager Jason Snell says employers need to appreciate that salary is important. “To attract talent you need to ensure you are offering a competitive salary, including performance-based incentives.”
Meanwhile, a survey by HR consultancy Astor Levin of over a thousand respondents across many industry sectors and company sizes across Australia shows four out of 10 employees are about to look for work elsewhere.
A large number of employees who rated their satisfaction highly wanted to leave anyway. High overall satisfaction ratings in a company are no guarantee against high staff turnover – one in four employees who said they were satisfied with their workplace were still planning to leave.
Colin Melbourne, managing director of Astor Levin, says: “The current tight labour market is changing the dynamic between employer and employee – it is now often up to the employer to show why someone should want to work at their company, not the other way around.”
He says although employee satisfaction is no guarantee that staff will stay, leaving is rarely just about the money.
Nearly half of respondents felt there were better career opportunities outside their current employer. Only 26% of respondents reported their primary driver as money.
Factors such as good leadership, work/life balance and career advancement are key drivers for over 50% of employees.