Fewer Australian workers are on the move, with 1.1 million people changing jobs in the year to February 2024, pulling the job mobility rate down to 8% from 9.6% in the year ending February 2023 – but remaining above the pandemic level of 7.5% in the year ending February 2021. While mobility picked up following the pandemic, it has recently returned to a level similar to that seen through most of the 2010s and reflects a long-term downward trend since the late 1980s.
According to the Recruitment Experiences and Outlook Survey, nearly one in four businesses that recently replaced staff said they’re doing so at least every six months. This was most common in Accommodation and Food Services and in Labour roles.
Employees moving to other job opportunities and the nature of the work itself are among the top reasons staff are leaving their job. In Health Care and Social Assistance and Retail Trade, dissatisfaction with job conditions or pay was also a key factor. For Labourers, the nature of the work was the most common reason employers gave.
High staff turnover is hurting productivity and pushing up recruitment and training costs. Businesses hiring in construction and trades industries reported the biggest hits to their bottom line.
In response, many employers are responding with higher wages or incentives like free accommodation to hold onto staff in a competitive market.
Find out more in the full article.
