PRESS RELEASE | Australian Businesses Risk Higher Employee Turnover and Talent Shortage by Stalling Career Progression
Australian businesses could suffer as new research by Morgan McKinley Australia reveals that organisations face the risk of losing valuable employees where there is a lack of career progression and ability to relocate.
The research, which polled 1,000 professionals, revealed that more than 49% cited lack of career progression as their main motivation for leaving a job. When asked what is top of mind in terms of career progression, 55% said that the overall package was the most significant factor, while 23% cited their desire for a broader remit.
The majority (52%) of the respondents do not feel satisfied in their current jobs and 55% are also looking to leave their current role in the next 12 months indicating that there is likely to be a fair degree of hiring movement as the economy picks up.
The research showed that half (53%) of respondents in the study would consider a job opportunity overseas. The reasons for this were; new opportunities and horizons (50%) followed by career progression (33%). USA or Canada are the places that almost a third (30%) would choose to relocate to. In Asia the top cities of preferred relocation were Singapore at (42%) followed by Hong Kong (21%) .
Louise Langridge, Joint Managing Director, Morgan McKinley Australia commented: “Our survey clearly shows that Australians working in professional disciplines are highly sophisticated in their ambitions. At the same time, the Australian workforce is still characterised by its talent shortages.”
Our data indicates that employers should be doing more to understand their employee’s career expectations and should engage with their employees on a continuous basis to discuss both opportunities and potential impediments to career progression. In turn, this will help employees understand how they can realise these aspirations and help alleviate any unnecessary employee turnover.”
View the full Job Satisfaction & Career Progression Survey Report 2015 here.
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About Morgan McKinley
Morgan McKinley is a global professional services recruiter connecting specialist talent with leading employers across multiple industries and disciplines.
With offices across Ireland, the UK, EMEA, Asia and Australia, the company’s professional recruitment expertise spans banking & financial services; commerce & industry and professional services. Morgan McKinley is a preferred supplier to many of the major employers in its specialist sectors and thousands of smaller local firms.