Are your employees planning their exit strategy?

by HRD05 Jun 2018

An “alarming volume” of Australian employees fear the prospect of losing their relevance and being denied new career opportunities, according to Tom Shields, vice president for Workday Asia Pacific.

Indeed, more than a third of Australian employees expect to switch jobs in the next 12 months if the right opportunity was offered, according to a new Workday commissioned IDC survey.

“Looking back over the research we conducted two years ago, we have seen a dramatic increase in the number of employees saying they would leave if the right opportunity came along,” said Shields.

“Employees want to learn new things and access better development opportunities, but they feel they are generally not getting this in their current jobs."

The research also found that Australian workers are demanding better pay and rewards, better career prospects and job security - and if they don’t receive it, they will leave.

This is compared to two years ago when employees said they wanted to enjoy work, better pay and work /life balance.

The good news is that Australia was in the top three countries in the APAC region with 82% happy and engaged employees – with the proviso that positive relationships with work colleagues and managers were maintained.

“There is awareness amongst employees now that they have to stay relevant and things are changing much faster than they did 15-20 years ago,” said Shields.

“While in Australia employees are generally happy they are also seeing that circumstances can change very quickly.”

The research also found that more than seven out of ten Australian employees have revealed that they are apprehensive about digital transformation.

A total of 39% fear their job is at risk due to the digital economy, while a further 37% are worried they don’t have the right skills to compete in the digital economy.

Almost half (49%) of Australian employees said that their employer/manager was not actively engaging in helping them acquire new skill sets to “future-proof” their careers.

Shields added that the results should be a “wake-up call for employers”.

“Of the Australian employees surveyed, 39% feel that their job is at risk due to the digital economy,” said Shields.

“Almost as many, 37%, felt that they don’t have the right skills to compete in the digital economy and they are not receiving the upskilling they believe they need.”

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