'Employees are feeling more confident and willing to go in search of better compensation and support'
Australian employees' confidence in job availability has peaked for the first time since 2021 as intentions to stay with their current employer decline.
Gartner's latest Global Talent Monitor found that employee confidence over job availability hit 58.1% in the first quarter of 2024, a new high since 2021.
It comes as employees' intent to stay in their current organisations declined to 36.1% over the last quarter, following higher overall confidence (44.6%) in the current business environment.
"Having waited in the wings for signs of business improvement, Australian employees are feeling more confident and willing to go in search of better compensation and support," said Robin Boomer, Director, HR Advisory in the Gartner HR practice, in a statement.
Drivers of attraction, attrition
Boomer advised employers to prioritise remuneration, respect, and wellbeing amid higher risks of employees jumping ships.
The advice came as Gartner's survey, which polled 853 Australians, found that manager quality is still the top driver of attrition for employees, followed by compensation. On the other hand, the top drivers of attraction are still factors including location, work-life balance, and compensation.
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Meanwhile, the report also found that the prospect of higher remuneration from changing employers went up to 7.4% in the first quarter among Australian employees.
It comes as employee perceptions about pay fairness hit a three-year low of 32.2% in the first quarter, which the report attributed to more fair pay conversations after gender pay gaps were published.
Boomer said their findings indicate that employees are "no longer willing to ignore their self-worth and wellbeing."
"Employers should not wait to have important discussions around pay and personal progress, and instead must actively engage individuals to support their career needs," he said.