The Hays Salary Guide 2018-19 has found forty-six per cent of skilled professionals are planning to look for a new job in the next 12 months. The main motivating factor behind this shift is a lack of promotional opportunities which was raised by more than half (53 per cent) of respondents. The survey also found just one-quarter (26 per cent) of the 1,200 skilled professionals surveyed rule out looking for a new job in the coming 12 months. The final 28 per cent were unsure.
Of those planning to look elsewhere, 48 per cent cite an uncompetitive salary as a factor. Other motives are a lack of new challenges (44 per cent), poor training and development (29 per cent), poor work-life balance (26 per cent) and a poor benefits package (21 per cent). Just two-fifths (40 per cent) are extremely or very satisfied in their current job. 41 per cent and 51 per cent are extremely or very satisfied with their current employer and current direct manager respectively. Meanwhile, voluntary staff turnover increased in 32 per cent of organisations over the last 12 months.
“Salary and benefits remain a key driver for job hunters, but far greater emphasis is now being placed on non-financial benefits, particularly career progression,” says Nick Deligiannis, managing director of Hays in Australia & New Zealand. “As our survey shows, employees are increasingly willing to consider career advancement elsewhere if they do not believe it can be achieved with their existing employer.
“Three of the top four factors spurring people to look for a new job focus on career development,” he adds. “This suggests employers could be doing more to develop their existing talent. With organisations adopting new technologies and processes, upskilling existing employees will meet their desire for new challenges and training. When linked to promotional opportunities, upskilling becomes important to retention.
“At the same time, upskilling ensures an organisation or department keeps up with changing business needs. It has the capacity to benefit both an organisation’s future talent needs and the developmental and promotional needs of individual employees,” he said.
The annual Hays Salary Guide is based on a survey of more than 3,000 organisations representing over 2.3 million employees. It is now in its 40th year.