By Sarah Childs
You may have heard that the “Great Resignation” has swept American business with 4.5 million Americans quitting their job in November 2021. So, is the “Great Resignation” going to happen in Australia as well?
Unfortunately, the answer is likely to be “yes”, and it is expected to happen from March 2022 with the end of lockdowns in most countries, international borders’ opening and the workforce market slowly getting back to pre-pandemic conditions. According to relative data and research, over 20% of Australians have changed jobs in the past year and almost 25% of Australians are considering career changes in the following year – and this includes both frontline employees and senior managers.
So as an employer, how can you be prepared for the potential Great Resignation to retain and attract talented employees?
First of all, know what your employees really want. Even though the needs and expectations of employees can be incredibly diverse, the following expectations are most mentioned by employees from all different industries:
- Remuneration and reward
- Work environment and wellbeing
- Career development
- Ways of working and flexibility
Financially appreciate employees’ hardworking and talents
The pandemic has caused a significant shortage in the international workforce market and as a migrant country, Australia is strongly affected by the shortage in many industries, such as retail, hospitality, farming, and mining.
On the other hand, employees are also suffering from the uncertain financial situation that may be caused by pandemic. Therefore, a remuneration package that is more than competitive will always be helpful to attract top talent to join the business and to motivate loyal employees for better performance.
Create a positive and supportive team environment
The pandemic has highlighted the need for a positive team environment for better mental health and wellbeing.
To create a great team environment, we encourage employers to always maintain transparency within the team and stop the habit of blaming. Anyone can make a mistake at some point and blaming each other cannot help to solve the problem. Work together as a team to correct the mistake and always ask employees: Are you ok? Do you need any support?
Many employees have the ambitions to improve their skills and to gain knowledge when they walk into a new business. These are the employees a promising business would want to be attracting and retaining for further development.
Provide training opportunities to employees, both internally and externally to help them get ready for the next stage of their career. Furthermore, if employees can see their opportunity to step up from frontline staff to management roles, they would be more hesitant when thinking of career change and resignation.
If you would like more information relevant to your specific industry or business or assistance in interpreting your relevant Award, please contact our friendly team to discuss further by email email@example.com or phone 07 5613 1846.