New report shows dissatisfaction with employer, manager a big reason for employee turnover
One in eight Australians have admitted that they left a job within their first year of employment, according to a new report.
More than one in 10 (12%) of employees left their job in the first year of employment over the past three years. This figure increases to 22% for Gen Z employees, and to 22% for employees in junior or entry-level positions, according to the ELMO survey.
Four in 10 of these employees said they left because the job did not match with the expectations set during the recruitment process. Others cited a poor impression of the organisation, and poor impression with the manager, according to the report.
Source: ELMO Employee Sentiment Index
No regrets for employees who leave job
There were no regrets for 92% of employees who left their jobs within a year, with only six per cent saying they felt remorse. Among those who stayed, 60% said they made the right choice, while only five per cent regretting their decision.
A report from the Boston Consulting Group last year, which included respondents in Australia, revealed that 28% of employees don't see themselves staying with their current employer within a year.
Managers will have a critical role to play in retaining these employees, according to the report, as it discovered that manager satisfaction cut down attrition risk to 16%.
Redundancy fears decline
Meanwhile, the latest ELMO Sentiment Index also found that redundancy fears declined as confidence in Australia's economy went up.
In fact, only 32% of employees said the economy was encouraging them to look for a new job, with 21% saying the economy is discouraging them to look for a new job.
"For HR leaders, it's a reassuring trend because of the well-established link between financial and mental health, and the impact on things like workforce wellbeing, absenteeism, and overall productivity," the report read.
