A new of over 1000 Australian white-collar workers by talent optimisation software firm, Compono and undertaken by YouGov, suggests that conditions are right for mass job changes with: 86% of the workforce indicating they would consider a new role in 2022.
The research data-set also contains some key insights for employers looking to retain their workforce, and what the Aussie white-collar worker is concerned about in 2022.
Key findings from Compono’s research
Non-managerial staff are more than twice as likely as senior managers to feel that their career progression has slowed down during the pandemic (61% compared to 28%)
Majority of Australian office workers (63%) don’t feel comfortable asking for a pay rise
9% of workers report they cannot be tempted back to full-time office-based work
Being undervalued was a top concern for women, while for men it was job dissatisfaction
The top reasons for workers to consider a switch to a new role are:
job role dissatisfaction (30%)
feeling undervalued (29%)
being offered a dream role elsewhere (28%)
lack of work flexibility (27%)
lack of career development opportunities (26%)
being unhappy with pay (25%)
Although ABS Data shows job mobility is at an all-time low (7.5%), the research suggests the trend will reverse in 2022 and a great migration of moving into new roles will take place.
Managers need to take on proactive measures
Rudy Crous, Compono Co-founder and Corporate Psychologist says with a tight candidate market, what’s clear from these statistics is that employers and hiring managers need to check in with their workforce now and be proactive with providing workplace value.
“For all the discussion around the Great Resignation, the thing to bear in mind is that the vast majority will be resigning into a different role! Perhaps it would be better in Australia to view this time as a ‘Great Migration’ or on the flip side the ‘Great Attraction’?” said Rudy.
“Either way, employers should be inwardly looking at what makes their company a great place to work and promoting that. Reciprocally do you have your finger on the pulse of your company culture and can you hire people that fit the unique culture of your organisation?”
“Skills and experience can be learnt on the job, so focusing on the right people aligned with your business values, purpose and way of work, will lead to greater staff retention.”
“The broad acceptance of remote working will have a huge impact on this year’s job market too. There are enough skilled workers to meet Australia’s demands, they’re just not all within 30kms of the head office or even within Australia. With people already looking for remote working opportunities recruiting across borders will become commonplace.”
“Of course, hiring is only one part of the equation.”
“Nurturing existing talent is a known potent competitive advantage, providing cost savings and higher overall productivity and workforce engagement. With job vacancy rates hitting record levels in Australia, a focus on retention strategies will pay big dividends this year.”
“Data also shows that people need to feel that their roles are fulfilling and of course everyone wants to feel valued. It’s essential that employers help their employees evolve and grow with the business, developing their skills and seeing opportunities, alongside their aspirations.”
“This will go a long way towards improving an employee’s engagement, morale and ultimately turnover. At Compono we have had numerous employees change careers within our company and we have supported them all the way through. Similarly, investing in learning management services is another great way to help engage and retain talent.”
“Employers need to ensure they are proactively retaining top talent and build a work climate where staff don’t want to leave, despite their inboxes being filled with recruiter emails.”
Mind the seniority gap
Data showed a gap between how different generations are feeling about their jobs as they enter 2022. Unsurprisingly, Baby Boomers are the most likely to stay in their jobs for the next 12 months (33%), while Gen X are most concerned about feeling undervalued (27%).
Keeping Millennials means focusing on team cultural activities (19%) and paid parental leave. There is a divide between the type of roles people hold and why they would leave their firm.
The research survey data also showed that non-managerial staff were much more likely to leave because of feeling undervalued (36%) and more than twice as likely as senior managers to feel that their career progression has slowed down (61% compared to 28%).
Where as the research data reported that senior managers were more likely to leave due to a desire to move into a new field (39%) or start their own business (32%).
Compono is a Human Resource software company that unlocks the potential of people by uniquely harnessing the power of data, science and technology. For companies large and small, it powers intelligent solutions to find, hire, develop and retain people.
And thus enabling companies/firms to recruit, retain and develop talent with employee centric and data driven decisions. Key clients include Minor DKL, Australian Retail Association, Queensland, Victorian and Tasmanian state governments and Maropost.