Home office work
Pixabay

Australia's improving business environment is forcing more and more Gen Z employees to hunt for better job opportunities, a report has revealed.

According to the report by Gartner, 41.5% of the Gen Z workforce was in search of new jobs, the highest rate in three years. Nearly half (49.2%) of Gen Z workers in Australia, according to the report, expressed general confidence in the nation's present business climate, indicating a high level of optimism about job availability, the report stated.

"While the current cost-of-living crisis and record high interest rates continue to have a significant impact on Australians, Gen Z employees have a much more optimistic outlook when it comes to seeking new job opportunities," said Robin Boomer, Senior Director of Advisory in the Gartner HR practice, in a statement.

According to a Gartner survey, only 35.4% of Australian workers intend to remain with their present employer, indicating that staff retention was still a problem in the country, with the main causes of employee departure including poor people management, disrespect, and poor manager quality.

"Failure to recognize the value of individuals and the importance of effective working relationships will lead organizations to experience reduced productivity and higher turnover," Boomer said.

Work-life balance, location, and competitive pay were listed by employees as the three most desirable aspects of an employer.

Future career chances, the caliber of coworkers, recognition, ethics, and stability were all significant considerations that influenced employee decisions, HRD reported.

Even though the Genz workforce is choosing respect over salary, there are instances where they are securing fat paychecks when changing jobs (9.8%), followed by millennials (7.1%), and Gen X (6.1%).