A seismic shift is on the horizon for the workforce, as one in four workers under the age of 30-years contemplate a career change.
A recent study by RMIT Online and market research company Honeycomb, conducted to understand motivations of Australia’s workforce, highlights an estimated 696,716 young workers have considered switching careers within the past three months.
The pursuit of an increased salary is the primary driver, with half of workers under the age of 30 placing it at the forefront of their motivations.
Career development opportunities and flexible working, follow at 33 and 31 per cent respectively.
Additionally, more than half of younger respondents, 56 per cent, plan to ask their employer for external training or upskilling in the coming months.
Training is viewed as particularly important for young workers, as three in 10 are concerned they do not have the skills to perform in their current role.
Nic Cola, CEO at RMIT Online, said Gen Z and younger millennials are redefining their priorities and as such, their career paths.
“They are in pursuit of new opportunities – and they are not afraid to change jobs to do so. This generation makes up a significant chunk of the workforce, so it’s crucial we empower them to bridge the skills gap and chase their professional ambitions. Doing so would contribute to a more resilient and dynamic workforce of the future.”
For young workers who report feeling dissatisfied with their current job, not feeling valued was cited as the top reason, 60 per cent. This was closely followed by not having an adequate salary for their role or level of responsibility, and not having clarity about career progression, both 55 per cent.
“It’s no surprise remuneration is a primary motivator in today’s economic climate, however, career development and training opportunities are also primary motivators for most Australians,” said Cola.
“If businesses don’t properly support, value or engage their employees, they risk losing valuable staff, stifling their own innovation and lagging behind in today’s ever-competitive landscape.”
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