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Job hopping is on the rise, as many employees are re-evaluating their priorities and recognising they have the leverage to do so. While this is a positive for employee autonomy over their careers, employers may fall behind if retention is hindered.
This is why maximising retention by focusing on employee happiness is crucial. Research shows that 76 per cent of Aussie workers are considering looking elsewhere for work in 2024. This is a 15 per cent increase from 2023.
Brooks Australia chief executive Cathy Brand noted that employee attitudes are fuelling the job-hopping increase: “Job hopping is on the rise due to shifting workplace dynamics and employee priorities. Employees are increasingly valuing a variety of experiences and skills, prompting them to explore different roles and industries.
“Today’s workforce has also developed new attitude to how they work. There is a big emphasis on how work fits into their lives, including family time, autonomy in their roles and flexibility in where they work.”
There are benefits to job hopping for an individual. Brand highlighted that it can be beneficial to career growth.
“Job hopping can be viewed as a strategic career move, offering professionals a unique set of advantages. Embracing diverse roles cultivates new skills, pushing individuals towards accelerated career growth, expands professional networks, and fosters adaptability – qualities paramount in navigating the dynamic landscape of today’s professional realm,” said Brand.
“There are always risks to starting fresh, but I’m so glad that I made the leap to Brooks after working for my previous employer for two decades.”
However, as with many aspects of business, there are also downsides to consider, such as a lack of loyalty.
Brand continued: “As the landscape of employment evolves, the prevalence of job hopping is a notable trend and can present a double-edged sword for professionals, so it’s crucial for employers to consider the potential drawbacks. Frequent changes can be perceived as a lack of loyalty, and the costs of training as well as onboarding amidst higher turnover rates pose practical challenges for businesses.”
“Striking a balance between encouraging career growth and addressing these concerns is paramount in fostering a stable and thriving workforce.”
For employers, job hopping can be dangerous to productivity. If skilled workers are constantly walking out the door, there are clearly some issues that require attention. Identifying the cause of attrition and working to sort these problems out should be of paramount concern.
“Companies that recognise the key priorities for their employees can proactively design policies and culture that fosters employee retention. This involves staying connected, actively listening, engaging with their employees and understanding their perspectives,” said Brand.
“From my experience at Brooks Australia, there are a few simple strategies I would recommend all businesses can implement that don’t involve money. Employees are looking for good management, good work relationships, to be engaged and satisfied with their roles.”
RELATED TERMS
Attrition is defined as the process through which workers leave a company for whatever cause (voluntarily or involuntarily), such as retirement, termination, death, or resignation.
Your organization's culture determines its personality and character. The combination of your formal and informal procedures, attitudes, and beliefs results in the experience that both your workers and consumers have. Company culture is fundamentally the way things are done at work.
Jack Campbell
Jack is the editor at HR Leader.
