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An unpredictable business environment won’t stop Australian employees seeking out new job opportunities with employers who are prepared to offer them greater stability and respect, according to Gartner, Inc.

Gartner’s Global Talent Monitor report for 2Q18 reveals that workers have reached a tipping point — discretionary effort fell more than 2 per cent, confidence in the business environment dropped nearly 1.5 per cent and intent to stay declined 3.2 per cent, continuing a downward trend from the start of 2018.

“Several things are happening at once — political and business leadership is wavering, global economic confidence has faltered, and the property market has weakened; employees in Australia are feeling the volatility and instability in both their personal and professional lives,” said Aaron McEwan, HR advisory leader at Gartner.

“The typical employee reaction to uncertainty is for workers to put their heads down, focus and ride out the storm with their current employer. However, employees are getting itchy feet and they know that if they don’t move now, the looming Christmas recruitment cycle means they’re unlikely to find a new job until 1Q next year,” said Mr. McEwan.

Gartner data reveals that stability has become increasingly important to employees; climbing into fourth place as a key driver of attraction for Australian workers, alongside work-life balance, location and respect. At the same time, work-life balance has climbed four places and is now the fourth most important reason why a person will leave a job in search of a new one.

“In a competitive labor market where it’s tough to find the right talent, employers need to re-evaluate their Employee Value Proposition (EVP) to make sure they are focusing on what matters most to employees,” added Mr. McEwan. “In this case, organizations should inject stability and balance into their workplaces.”

To re-engage employees and stop them from jumping ship, employers should look to personalize their engagement strategies. This means understanding and focusing on what employees value from their experiences with the company, rather than implementing policies, systems and processes that attempt to be all things to all employees.

Research shows there are significant benefits to an approach that places an emphasis on employee values, including a 14 per cent increase in employee performance compared with companies that adopt a one-size-fits-all approach. 

Flexible work, for instance, can mean different things to different employees. While one person may enjoy flexible working hours during school holidays, others may opt for flexible working every day. It’s having the option that makes employees feel valued and satisfied with their employer.

“For example, parental leave has a greater emotional investment compared to other types of leave and often results in lots of questions and concerns about status, pay and benefits. It requires a unique approach and must be handled differently depending on the needs of the employee,” said Mr. McEwan.

Gartner advises organizations to tailor employee experiences to suit the needs, desires and goals of the individual rather than the collective. By understanding what employees value the most, HR leaders can positively impact the employee experience and lessen the desire for them to seek alternative employment opportunities.

Highlights from the 2Q18 Global Talent Monitor

Source: Gartner (August 2018)

Global Talent Monitor data is drawn from the larger Gartner Global Labor Market Survey, which is made up of more than 22,000 employees in 40 countries. The survey is conducted quarterly and is reflective of market conditions during the quarter preceding publication.

About Gartner for HR Leaders

Gartner for HR Leaders brings together the best, relevant content approaches across Gartner to offer individual decision makers strategic business advice on the mission-critical priorities that cut across the HR function. Additional information is available at www.gartner.com/en/human-resources/human-resources-leaders.