The Great Resignation so prevalent in the US and the UK is shaping up to be the Great Reshuffle in Australia.
In other words, workforce participation (the percentage of eligible workers who are in or seeking jobs) has gone down in those two countries but gone up in Australia.
That is NOT necessarily good news for Aussie employers because people are still leaving their jobs. They are just moving on to greener pastures.
I ran an informal poll two weeks ago and 53% of respondents said that they had experienced more turnover this year after the holidays than last. This includes 22% who responded, “Ouch!” I’ve been hit hard!
Last weekend our esteemed Treasurer Josh Frydenberg basically told Australians to switch jobs for better pay.
I could see every one of my clients doing facepalms because most are battling competitors who are poaching their staff and throwing silly money at them causing pay parity grief and higher than normal wage growth.
On Monday I had the pleasure of speaking with @Tom Elliott, Drive Show Host for 3AW Radio in Melbourne about all things Great Reshuffle. You can listen to the 5 minute podcast here.