The Great Resignation is far from over, according to a new report which has found that nearly a quarter of Australian workers are looking to leave their job in the next year.
NAB’s Quarterly Changing Workplace report revealed that the rising cost of living is spurring a continuation of the Great Resignation, with Australian workers looking to leave their current job to seek a higher salary.
While the Great Resignation was ignited by a shifting approach to work brought on by the COVID-19 pandemic, the rate of Australians considering a change in their job is still rising.
The report found that 24 per cent of Australians are considering leaving their current jobs, up from 21 per cent in the third quarter.
The main reason for hunting a new job is for an increased salary to assist with the rising cost of living, with seven out of 10 workers considering this a high priority.
Stability, flexible hours and purposeful work was also seen as a high priority in a job.
NAB group executive of people and culture Susan Ferrier said this shows that employers need to be aware of the challenges that workers are facing with inflation and a different attitude to work following the pandemic.
“As we see the pressures of inflation hitting many Australians, I think employee wellbeing will need a very sharp focus,” Ferrier said.
“Australians are far more thoughtful about work-life balance since the pandemic and it plays a key role in their job satisfaction. A company’s willingness to accommodate employee preferences goes a long way in supporting their loyalty.”
The research also found that almost one in 10 workers – 8 per cent – had changed jobs in the last quarter, and one in three had found new work in the last two years.
But only half of workers who changed jobs in the last quarter are now receiving a higher salary.
In terms of a pay rise in their current job, 36 per cent of men said they would seek one in the next 12 months, while 25 per cent of women said they would.
Ferrier said this shows that inherent biases need to be addressed in the workplace, rather than just encouraging women to ask for a pay rise.
“It’s not about trying to get women to ‘act more like men’,” she said. “It is about addressing bias and ensuring that our workplaces reward women fairly for the contributions they make.
“The same goes for promotions and stretch opportunities. Just because someone is good at asking and advocating for them self, doesn’t necessarily mean they are the best fit. It’s a great skill to have, but it shouldn’t outweigh experience, capability and leadership qualities.
“Breaking these long-held biases takes deliberate effort, particularly from those in leadership roles, every day. It is critical to getting more women into leadership positions. Which is a big factor in helping to close the gender pay gap.”
Among digital and data workers, only 51 per cent are confident in getting a pay rise in the next year, while pay rise expectations was highest among IT workers, who are hoping for a $219 weekly increase, but they could be in for disappointment as employers start to push back.
The new report comes on the back of research late last year that found nearly 2 million Australians will be looking to leave their job this year, with the full impact of the pandemic on the workforce still yet to be felt.