Every year 18% of the Australian workforce started work with a new employer. New data released by the ABS reconfirmed that we are a nation of job hoppers. Almost one in six or 1,972,300 of the workforce has been with a company/business for less than 12 months.
Here’s how the distribution looks:
Employment tenure is even lesser with high-income earners. Our survey revealed that executives on average worked for almost eight employers during their lifetime; and the vast majority (25%) have worked for their current employer for less than a year.
Here’s a comparison of executive and the national average:
The fact is employment tenure is getting shorter, and all signs are suggesting it will continue to get shorter. Which means that recruiters will have to be eternally vigilant. Which in turn underscores the important of having robust processes, a talent pipeline and a recruitment strategy.
Recruiters will be called upon to deliver with increasing regularity.
Part of the reasons why agency recruiters continuously deliver result is because they start looking again immediately after a talent is found (placement made). Maintaining a fluid talent pipeline comes with the territory and gives them the edge over their corporate siblings.
Perhaps, the best time to start looking for talent is the day a new hire is made. That type of advance planning and thinking will insulate an organisation from risks associated with the vagaries of employee mobility and spiralling recruitment budgets.