The Rising Trend: Job Market Mobility
One in ten employees are moving jobs this year, according to new statistics released by the Australian Bureau of Statistics (ABS). The findings, which echo last year’s results, mean the job market is at its highest point in a decade, with no signs of slowing down. While men are moving slightly more than women (9.7% to 9.4% respectively) and younger employees appear to be more mobile than their more experienced counterparts, the market is wide open for workers to seek out a role that really suits them.
The Shifting Balance: Employee-Centric Job Market
Whether or not ‘the great migration’ is a reaction to COVID, with workers seeking better conditions or looking for a better work/life balance, it’s clear that the balance has shifted in favour of the employee, with greater competition for talent than ever.
Recruitment Strategies in a Competitive Market
So how can employers recruit and retain in such a churned-up market? It’s surprisingly simple. For both existing candidates and new applicants, employers need to sell the role, which means paying attention to what employees really want, rather than what senior leaders think that they want. In an employee preference index compiled by financial services firm, PwC, the firm discovered that while top executives imagined commitment to the environment and access to coaching and mentoring as huge points of attraction for a role, candidates considered them to be baseline expectations, rather than deal makers or breakers. Employees themselves ranked remuneration above everything else. Taking the time to discover what employees want, rather than adopting a blanket approach, is the way to develop and keep hold of talent.
Empowering Employees: Asking for What You Want
As for employees, don’t be scared to ask for what you want, both internally and externally. Work out what your drivers are – be that remuneration, an internal path for development, training opportunities or a focus on work/life balance – and seek out companies that offer those prospects. And, now more than ever, is the chance to look further afield. Because the ABS statistics show that, as part of this new trend, workers aren’t limited by the field they operate in. Head of Labour statistics at ABS, Bjorn Jarvis, reported: “People were more likely to change their industry (at 58%) rather than their occupation, which was 44%, in the year ending in February 2023.” Which means that, approached the right way, this is every employees’ chance to find the role of their dreams.
Here at PARTNER, we’ve got the tools to help you. Because whether or not the position is in your sector, we can make sure it’s within your reach.