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Australia’s improving business climate is forcing more and more Generation Z workers to look for better job opportunities, a report shows.
According to a Gartner report, 41.5% of the Gen Z workforce is looking for a new job, the highest proportion in three years. Nearly half (49.2%) of Australian Gen Z workers expressed general confidence in the country’s current business environment, indicating a high level of optimism about job opportunities, the report said.
“While the current cost of living crisis and record high interest rates continue to have a significant impact on Australians, Gen Z employees have a more optimistic outlook when it comes to seeking new job opportunities,” Robin Boomer, senior consulting director in Gartner’s HR practice, said in a statement.
According to Gartner, only 35.4% of Australian employees intend to stay with their current employer, indicating that employee retention is still an issue in Australia, with the main reasons for employees leaving their jobs including poor people management, lack of respect for employees and poor management quality.
“Failure to recognize the value of individuals and the importance of effective working relationships can lead to decreased organizational productivity and increased turnover,” Boomer said.
Work-life balance, location and competitive compensation were ranked by employees as the top three things they want from an employer.
The Human Resource Development report said future career opportunities, quality of colleagues, recognition, ethics and stability were all important considerations that influenced employees’ decisions.
although Gen Z employees value respect over salary, some are offered a good salary when switching jobs (9.8%), followed by Millennials (7.1%) and Gen X (6.1%).