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Has Australia become a jobseeker’s market?
The economic recovery from the pandemic and border closures are increasing employees’ confidence, with employers having to go above and beyond to attract top talent, new research shows.
Has Australia become a jobseeker’s market?
The economic recovery from the pandemic and border closures are increasing employees’ confidence, with employers having to go above and beyond to attract top talent, new research shows.
Employees are in the driving seat, with organisations now needing to offer more than just safety and job security in order to attract top talent.
A study released by Randstad shows that just one year from the pandemic, Australia has a confident and buoyant workforce which is ready to call the shots and look for new opportunities.
Nick Pesch, CEO of Randstad, commented, “One year on from COVID-19 hitting, the economy is in growth and Australians are feeling safe and confident in their jobs again. However, fuelled by a recovering economy and locked borders, many organisations are facing intense talent scarcity. It is now vital that organisations invest in employer branding to attract and retain talent in a highly competitive environment.”
What workers want
The survey of 6,850 Australian workers found that, despite emerging from a global pandemic, a COVID-safe environment was not the top priority for workers.
Instead, the majority are asking for work/life balance (63 per cent), salaries and benefits (58 per cent) and job security (57 per cent) as their top priorities – above a COVID-safe environment (46 per cent), career progression (46 per cent) or an employer’s good reputation (45 per cent).
Mr Pesch noted, “The survey indicates that employees already take the safety and stability offered by their employers as given – rating their existing employers most highly for delivering a COVID-safe environment, being financially healthy, and having a good reputation.”
The survey also showed that employer branding matters, with 96 per cent of worldwide participants saying they want to work for a company culture that aligns to their personal values.
In fact, the report showed that 50 per cent of employees will not work for a company with a bad reputation even if the company pays more money to attract staff.
“While we’re seeing a confident workforce in the driving seat, our report also shows that job security is key to securing loyalty. If employers show leadership and provide job security, they’ll be rewarded with a workforce that sticks with them, even in a fiercely competitive market for talent,” Mr Pesch said.
Changing jobs
According to the report, about one in four Aussies intend to change employers, with around 16 per cent of those surveyed changing their employers in the latter part of 2020.
According to Randstad, of the 24 per cent of Aussies looking to move on, there is no difference among gender or education levels, with only older Australians looking to remain at their current employer.
“Twenty-five per cent of white-collar intenders plan to switch to another employer in the first half of 2021. This is not too different from the average Australian employee (24 per cent) who intends to switch employers. White-collar employees use the same channels as the average Australian employee for finding jobs.”
“[While] 16 per cent of blue-collar employees switched employers in the last half of 2020. This is lower when compared to white-collar workers (20 per cent),” the report concluded.
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