Study: Nearly two thirds of Australians are hunting for a new job
The majority of employed Australians are actively or passively searching for a new job in 2014, suggesting that organisations around the country may be facing serious staff shortages unless they place more emphasis on human resources and employee engagement.
According to the latest Hudson’s Australian & New Zealand Salary & Employment Insights 2014 report, 63.7 per cent of Australian employees are looking for a new job, either actively, by reviewing job listings and candidate openings, or passively, by updating their resume and remaining open to new employment opportunities.
Money seems to be the main driving force behind this figure, with higher remuneration being named as the top reason why employed individuals are hunting for new jobs. However, the need for a more interesting and enjoyable working environment was also a key factor.
According to Hudson Asia Pacific CEO Mark Steyn, employees today are working harder and for longer hours, and are not feeling secure in their roles. As a result, Mr Steyn says businesses may be facing a “potential triple cost scenario” in 2014, in which they are impacted simultaneously by the costs of high staff turnover and lost productivity due to an absence of key talent, while also feeling the effects of a disengaged workforce.
“Our findings clearly demonstrate that the workforce is willing to move, and move quickly. The impact to the business and cost of replacing, training and up-skilling new workers is likely to be much higher than retaining and developing staff that are already performing well; particularly when high performing individuals leave the business,” said Mr Steyn in a statement.
“Employers need to remember that the majority of people are seeking an opportunity to advance their careers, skill sets and experiences. Along with financial rewards, we recommend that organisations consider revisiting engagement strategies for all staff and enable employees to develop their own career path via options such as stretch assignments, secondments to other business functions, taking on new projects, training and development.”
With that in mind, Australian businesses concerned about these findings may want to consider turning towards HR management software (HRMS) which has been specifically designed to help organisations implement a comprehensive human capital program that can boost employee engagement and maximise work/life satisfaction.
By using HRMS software to identify where your business is losing the faith and loyalty of employees, you can look to address these areas and ensure that staff turnover is kept under control moving forward.