Key survey findings:
(Source: 2014 Michael Page Australia Employee Intentions Report)
- 78% of professionals surveyed indicated they are very likely or quite likely to look for a new role this year
- Long-term job security is the primary factor when looking for a new role this year for 29% of surveyed employees and is the primary concern for 41% of employees surveyed over the coming year
- 48% will ask their current employer for a wage rise this year, with 35% to ask for a 3-5% increase
30 April 2014: Many Australian professionals are likely to look for a new job this year, with a position offering long-term job security the primary factor to encourage them to make the switch, according to the 2014 Michael Page Australia Employee Intentions Report.
The report reveals 78% of professionals surveyed are very likely or quite likely to look for a new role this year, with 35% indicating they will seek a new job either interstate or overseas. Job security is a key focus for many jobseekers, with 29% looking for this stability in their next role and 41% citing job security as their primary concern for the months ahead.
“Although slowing domestic economic conditions have dampened business and consumer spending and impacted hiring activity, factors like lower interest rates, a weaker exchange rate and activity across the housing sector are expected to keep the economy afloat, along with business and consumer confidence in 2014,” says Mr. Simon Meyer, Managing Director of Michael Page in Australia.
“Considering this, the employment market is likely to remain steady with job opportunities continuing to become available for talented professionals. However, softening economic conditions and the subsequent effect on hiring means job security is a primary focus for employees,” adds Mr. Meyer.
Employees continue to be motivated by financial reward based on performance, including a salary increase or bonus, to remain in their current role (20%). Further, 48% will ask their current employer for a wage rise this year, with 35% to ask for a 3-5% increase. When looking for a new role, 29% say they would accept a 1-2% wage rise, while 26% would accept a new role with a 3-5% increase on their current base wage.
Non-financial rewards are equally as important to surveyed employees, with 33% indicating a higher superannuation contribution is the benefit they would most like to be offered by their employer, while 48% say flexible working arrangements is most desired to encourage work-life balance.
To read the report in full visit www.michaelpage.com.au/news-research