Gen Ys good workers, but eager to leave

Matthew Sullivan

Recent research that claims Gen Y are eager to leave their current jobs is not an accurate reflection of the real estate industry, a recruitment specialist has said.

Research from HR company Mercer found 52 per cent of Australian workers aged 25-34 are seriously considering leaving their place of employment. Yet, despite saying they want to leave their employer, 73 per cent of this group is willing to go beyond the requirements of their job.

Mercer’s human capital business leader for Australia and New Zealand, Rob Bebbington, said Australian employers need utilise the skills and ambitions of their workers more effectively, otherwise they may see turnover rates increase.

“While Australian employers are getting many aspects of the employee engagement equation right, they’re not making the most of the capabilities and ambitions of many groups within their organisation, which means they are potentially losing productivity and worst case scenario, key talent, which inevitably hits the bottom line,” he said.

“Employers need to consider all aspects of the employment relationship and different stages of their employees work lifecycle. Our priorities and motivations change in life as we age and the same thinking has to be applied to the workforce.”

Real estate industry recruitment specialist Sharon Bennie said that while these figures may apply across a broader scope of industries, they didn't apply in the real estate industry.

"We have certainly not seen an increase to the number of applications coming through our door for Gen Y agents," she said.

"The 25-40 age group are the most active in the industry, but I consider this to be the 'ladder age group'. They are actively seeking employment, career progression and career development."

The report said that in contrast to Gen Y, workers aged 55-64 are more satisfied with the type of work they do and are less likely to leave but feel they are being overlooked for career development opportunities.

Around 40 per cent of this age group believe they have sufficient opportunity for growth and development, compared to 64 per cent of those aged 25-34.

“Younger workers rate job satisfaction as very important yet score low on satisfaction with their job and will therefore look elsewhere for opportunities despite being engaged and happy with other work areas.  So they need real growth opportunities,” Mr Bebbington said. “Whereas older workers are less likely to leave but report low levels of motivation, they need more communication and development strategies.”

 

Matthew Sullivan

Recent research that claims Gen Y are eager to leave their current jobs is not an accurate reflection of the real estate industry, a recruitment specialist has said.

Research from HR company Mercer found 52 per cent of Australian workers aged 25-34 are seriously considering leaving their place of employment. Yet, despite saying they want to leave their employer, 73 per cent of this group is willing to go beyond the requirements of their job.

Mercer’s human capital business leader for Australia and New Zealand, Rob Bebbington, said Australian employers need utilise the skills and ambitions of their workers more effectively, otherwise they may see turnover rates increase.

“While Australian employers are getting many aspects of the employee engagement equation right, they’re not making the most of the capabilities and ambitions of many groups within their organisation, which means they are potentially losing productivity and worst case scenario, key talent, which inevitably hits the bottom line,” he said.

“Employers need to consider all aspects of the employment relationship and different stages of their employees work lifecycle. Our priorities and motivations change in life as we age and the same thinking has to be applied to the workforce.”

Real estate industry recruitment specialist Sharon Bennie said that while these figures may apply across a broader scope of industries, they didn't apply in the real estate industry.

"We have certainly not seen an increase to the number of applications coming through our door for Gen Y agents," she said.

"The 25-40 age group are the most active in the industry, but I consider this to be the 'ladder age group'. They are actively seeking employment, career progression and career development."

The report said that in contrast to Gen Y, workers aged 55-64 are more satisfied with the type of work they do and are less likely to leave but feel they are being overlooked for career development opportunities.

Around 40 per cent of this age group believe they have sufficient opportunity for growth and development, compared to 64 per cent of those aged 25-34.

“Younger workers rate job satisfaction as very important yet score low on satisfaction with their job and will therefore look elsewhere for opportunities despite being engaged and happy with other work areas.  So they need real growth opportunities,” Mr Bebbington said. “Whereas older workers are less likely to leave but report low levels of motivation, they need more communication and development strategies.”

 

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