What is driving younger employees to look for new roles?
Four in 10 Gen Z employees in Australia are looking for new job opportunities amid optimism about the current business environment, according to a new report.
The report, released by Gartner, found that 41.5% of Gen Z employees are actively seeking new roles, the highest rate in three years.
"While the current cost-of-living crisis and record high interest rates continue to have a significant impact on Australians, Gen Z employees have a much more optimistic outlook when it comes to seeking new job opportunities," said Robin Boomer, Senior Director, Advisory in the Gartner HR practice, in a statement.
This comes as 49.2% of Gen Z employees also express overall confidence in Australia's current business environment, according to the report, echoing previous findings that showed strong optimism on the job availability in the country.
Why are employees leaving?
Meanwhile, the report found intentions to stay with current employers have long remained low across all generations in Australia.
Gartner's findings revealed that only 35.4% of Australian employees plan to stay with their current employer. This is much lower than the 45% peak recorded in the second quarter of 2022.
The top reasons why employees want to leave are manager quality, respect, and people management – indicating how workplace relationships can impact retention.
"Failure to recognise the value of individuals and the importance of effective working relationships will lead organisations to experience reduced productivity and higher turnover," Boomer said.
On the other hand, employees said the top factors that make an employer attractive include work-life balance, location, as well as compensation.
