Survey shows Australians are working harder — for good reason
MORE Aussies are putting in extra effort at work compared with their international counterparts. And for a good reason.
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AUSTRALIANS are working harder as the hopes for a pay rise climb to a six-year high.
A new survey has shown the numbers of workers putting in extra “discretionary effort” grew 5 per cent between the first quarter of this year (starting January) and the second.
About 23 per cent of Australians said they go above and beyond for their jobs, compared to the international average of 17 per cent, according to a CEB Global Talent Monitor survey.
About 41 per cent of Aussie workers also intend to stay in their jobs, compared to 33 per cent internationally.
But only 47.5 per cent felt they had good job opportunities compared to 49.9 per cent internationally.
The survey also found that on average employees in Australia expected a 2.5 per cent increase in base pay, and this was at its highest proportion since 2011.
“After years of riding out low wage growth, workers are now hopeful that their base pay will start to see the flow-on effect from the positive business conditions,” Gartner HR advisory leader Aaron McEwan said.
Global Talent Monitor data is drawn from the larger CEB Global Labour Market Survey which is made up of more than 22,000 employees in 40 countries.
The survey also showed that while pay continues to be the top priority for jobseekers, they are also seeking more respect from their next employer.
In Australia the three most attractive factors of a job are:
1. Work/life balance
2. Location
3. Respect
Internationally it is:
1. Compensation
2. Work/life balance
3. Stability
The top three factors that led to Australian workers leaving their jobs were:
1. Future career opportunity
2. Development opportunity
3. People management.
Internationally it was:
1. Future career opportunity
2. Compensation
3. People management.
The survey comes after Australia’s national accounts showed the economy rebounding smartly after a slow start to the year.
While wage growth remains at a 20-year low, Treasurer Scott Morrison is confident salaries will pick-up as company profits improve and employment continues to strengthen.
“The pace of jobs growth has accelerated over the year and the participation rate has risen which suggests that people are more confident about conditions in the jobs market,” Commonwealth Bank economists said in a weekly outlook earlier this month.
The participation rate gauges people who are either in or looking for work. However, nationwide wage growth continues to stagnate at its lowest level in at least 20 years.
Mr Morrison said low wage growth was not peculiar to Australia but said salaries were rising in some industries where workers were in greater demand, such as the IT security, health and construction/engineering sectors.
“That gives us, I think, some encouragement about what we can expect down the line,” Mr Morrison told ABC television.
He believes as company profits show sustainable improvement, the case for wage rises will build, especially when businesses were putting people on. The May budget predicted wage growth of 3.75 per cent by 2020/21, compared with just 1.9 per cent now.
“As the labour market tightens, that’s obviously going to lead over time to a boost in wages,” he said.
“That’s why I talk about the better days ahead because we can see all these things lining up — more jobs, more investment, profit performance improving.”
But Labor says the treasurer is “naive and dishonest” pretending workers can get a decent pay increase by just asking their bosses.
“The treasurer knows workers can’t just ask for a pay rise when their bargaining capacity is being ripped away from them,” opposition employment spokesman Brendan O’Connor said in a statement.
“The Turnbull government cannot seriously try to continue to deny the inequality which hardworking Australians are experiencing every day.”
— With AAP
Originally published as Survey shows Australians are working harder — for good reason
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