The last few years have seen a lot of people change industries, move roles or shift to different companies, whether due to COVID-19 or the ongoing impact of inflation. With the Australian government’s Job and Skills Summit taking place this week, work is on the brain for many and a new survey has highlighted why Australians are changing jobs and the pay increases they are willing to quit for.
Why Australian workers are changing jobs
An RMIT Online survey of 800 Australians revealed that the cost of living and inflation is a larger concern for 85% of participants than it was a year ago. 75% also said they’d change jobs for an increased wage.
It’s not too much of a surprise then that the survey revealed that over a third of respondents have changed jobs in the past 12 months, drawn in by higher salaries and potential career advancement.
An interesting statistic from this survey is just how much of a pay rise workers are willing to leave their job for.
Of that third that said they’d moved jobs in the past year, 28% left for a pay rise of just $5000 or less, with 61% moving for less than $10,000.
The Australia Bureau of Statistics revealed recently that the average full-time worker in Australia makes $90,000 a year (pre-tax). This is a 2.9% increase from the previous year, however, when you factor in the alarming rise in inflation (6.1%), it’s still not enough.
While the cost of living is a large concern in many Aussie’s lives, RMIT Online’s survey revealed that 57% of respondents said not feeling valued is their primary reason for dissatisfaction with their jobs.
“Our survey shows Australians are really feeling the impact of the rising cost of living and inflation. However, while a higher salary may sway some employees in the short term; if an employee is unhappy or unsupported in their role, better remuneration alone will not be sufficient to facilitate long-term retention,” Claire Hopkins, RMIT Online Interim CEO, said.
Another primary motivator for those changing jobs was future career opportunities.
With a number of industries in Australia critically in need of new hires right now, there’s a wider pool of opportunities for job seekers, both in terms of different roles and negotiating higher wages.
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