Low salary, lack of career progression and dissatisfaction with their job content are among the top reasons why employees in Australia want to find a new job in 2022, according to a workforce study.
In the research by specialised recruiter Robert Half, 44% of employees will look for a job within the next six months. At the same time, 31% are not actively looking but would consider the right job offer.
Only one in four workers in Australia said they have no plans to transfer to a new position in the year's second half.
Nearly half (48%) of employees surveyed said low salary was the main reason they would leave their company; some said it was lack of career progression (37%); others cited unhappiness with their job content (30%).
The threat of employee resignation reaffirms the strategic importance of retention and talent management to the business industry.
But what would make employees stay?
More than half of respondents (53%) said flexibility would be the main reason they would stay at a company; for some, it would be their relationship with managers and co-workers (42%); for others, a competitive salary (37%).
Read more: Prime Minister Albanese announces plans to boost Australian jobs
Today, there is fierce competition in filling positions and growing headcount within companies, and candidates are becoming aware of their power to negotiate salaries.
Among Generation Z workers, for instance, about three in five (58%) said they have active job search plans for this year. For Millennials, that figure is at 50%. This data suggests junior to mid-level employees leverage their bargaining power to fast-track career goals through a new role.
Read more: The pros and cons of job hopping
Skilled talent from several industries that have experienced post-pandemic growth is now subject to high demand from employers. The report said this contributes to a higher turnover frequency.
Among HR professionals polled, 62% said they are most likely to search for a new role in the next six months. Meanwhile, more than half (54%) from the technology industry are looking to do the same.
Aside from industry and age group, it is likely that 50% of New South Wales workers will look for a new job in the second half of 2022.
Andrew Brushfield, director at Robert Half, said the labour market still favours the worker and that it is an excellent time for them to explore the job market and take advantage of opportunities that offer better pay, a more significant challenge, and more flexibility.
The Robert Half research highlights the value of intangible and low-cost efforts to foster a positive workplace through fulfilling workplace relationships and company culture, challenging employees through new projects and responsibilities, and respecting employees' autonomy through hybrid work.
"While the war to attract talent is pushing up remuneration, a satisfied employee can't be bought in the long-term," said Brushfield.