Highest ever levels of job seeking activity across Australasia - One in 3.5 of your employees are likely on the move

The latest findings from LMA’s L.E.A.D. Survey series reveal the highest ever levels of job seeking activity in Australasian organisations. A new talent war is emerging as employees across Australasia are considering new job prospects at a higher rate than during the 2006-08 talent war – a period when employers were forced to pay 25 to 30 per cent salary premiums to find or simply keep high quality people.

Since September 2009, there has been a “staggering”:

• 48 per cent increase in employees considering changing jobs
• 123 per cent increase in employees actively searching to change jobs
• 164 per cent increase in employees applying for jobs elsewhere.

In fact, one in 3.5 employees (29%) has actually applied for a new job in the last six months, compared to just 1 in 9 (11%) late in 2009.

These types of spikes in measures of job-seeking are unheard of. Other L.E.A.D. Survey findings highlight that employees feel they have been left in the lurch, no-one has thanked them for sticking to the task during the tough times and no-one is talking to them now about their futures.

Employees who had been denied salary increases and asked to work unpaid overtime or vastly different hours during the global financial crisis, are now on the move in their droves because they feel their employers have been ignoring them now that the hard times of the GFC are over, instead focusing on restoring company profits.

These results should represent a serious wake-up call to every HR department and boardroom in Australasia. Left unchecked, organisations stand to lose their best people and be forced to pay the high costs of recruiting new staff from the jobs merry-go-round, as was the case in 2006-08.

More details, explanations, and actionable solutions to this and other key L.E.A.D. findings can be found in the book, A Decade of L.E.A.D. – Looking Forward, Looking Back. (For more information on the book click here.)

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