What are top factors driving people to new employers?
Two in three employees in Australia have plans to find a new job in a bid to look for better pay and benefits, according to a new report from Aon.
The global report, which included 500 respondents in Australia, found that 67% of Australians are either in the process of moving employers or have intentions to seek new employment in the next 12 months.
Nearly half of the respondents (48%) said they are looking for organisations that provide better than average pay and meaningful benefits.
This comes as only 22% of employees feel undervalued at their current employers, with only 51% agreeing that their current compensation is fair.
"A staggering two-thirds of employees revealed that they are in the process of leaving their jobs or plan to in the next 12 months, alongside some dissatisfaction with their current remuneration," said Damien Kelly, client director, health and benefits for Aon, in a statement.
"Against the backdrop of a relatively stable employment market in Australia, addressing the pay and benefits gap, particularly across generations, will remain a critical challenge."
Meanwhile, the report also found that employees are also looking for organisations offering flexible work arrangements (34%).
"Flexibility remains a valued offering for employees, and the push to get employees back in the office full-time needs to be thoughtfully managed alongside factors such as pay and other benefits," Kelly said.
Various employers across Australia have been announcing office-return policies, such as Woolworths, Coles, Amazon, and Tabcorp.
According to Aon's report, 47% of employees are already working in-office, while 45% are working under flexible or hybrid working.
"The findings highlight the need for employers to not only focus on competitive compensation but also address other key factors that influence employee retention and satisfaction," Kelly said.
