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Panel - Well-rounded talent management strategy vital to attract and retain staff in 2013

Key survey findings:

(Source: Michael Page 2013 Employee Intentions Report, Australia)

  • 52% of employees indicate they are very likely to seek a new role in the next 12 months.
     
  • 27% of respondents will look for a new position that provides a structured career plan, while many would remain in their current role if offered additional career development supported by training.
     
  • 48% would like to be offered a flexible working arrangement and 43% cite healthcare/health insurance as the preferred employee benefit.

13 December 2012: Employers across Australia’s professional sectors will need to place top priority on developing attraction, retention and engagement strategies to secure and retain the best talent in 2013, as professionals and executives continue to focus on financial and non-financial remuneration.

According to the Michael Page 2013 Employee Intentions Report for Australia, which is based on the survey responses of more than 1,500 professionals and executives; over half of the respondents (52%) cite they are very likely to look for a new role in the coming year. Those professionals looking for a new career challenge will be enticed by a role that offers career progression opportunities, increased salary, workplace flexibility and a range of employee benefits.

“Domestic business conditions are relatively steady across the majority of industry sectors and there is a positive volume of job opportunities for qualified professionals and executives going into 2013,” says Mr. Phillip Guest, Regional Managing Director of PageGroup in Australia and New Zealand. “With some staff turnover expected over the next 12 months, employers will need to pay attention to what jobseekers are looking for in their next role and action effective talent management strategies to secure in-demand talent.”

Some 27% of employees surveyed would be encouraged to accept a new position that provides a structured career plan and includes professional development and progression opportunities. This is followed by 17% who will look for an increase in salary, with 25% looking for a pay rise of 10-12%. Interestingly, a structured career plan and increased remuneration are also the two key requirements that would keep the majority of surveyed employees in their current role.

The survey also found that for almost half of the professionals surveyed (48%), a flexible working arrangement is the preferred non-financial benefit while 43% of respondents chose healthcare or health insurance cover as the employee benefit they would most like to receive, followed by a higher superannuation contribution (42%). “To address the potential increase in staff turnover rates, employers should look at implementing opportunities for professional development and awarding competitive remuneration to attract and retain the best talent. Further to this, two important incentives to keep employees engaged are offering workplace flexibility and other employee benefits,” says Mr Guest.