The annual Randstad Employer Brand Research, an independent survey of over 6,000 Australian workers, has revealed a significant shift in the most attractive sectors for employment in 2024.
Construction, transport and logistics have emerged as the top draws, with 54 per cent of respondents identifying each as the most appealing industry to work in.
Within the construction sector, CPB Contractors, Ventia, and UGL have been recognised as the most attractive employers.
These companies stand out for their job security, financial health, attractive salaries, and work-life balance — factors that are important drivers for 56 per cent, 43 per cent, 59 per cent, and 64 per cent of Australians, respectively.
Despite the cost-of-living pressures faced by many Australians due to higher interest rates, inflation, and underemployment, the report reveals that only 12 per cent have been compensated for inflation by their employers.
Alarmingly, two in five (38 per cent) have not received any financial support from their employer over the past two years, with women and older workers (Gen X and Boomers) more likely to fall into this category at 48 per cent and 52 per cent, respectively.
However, the fear of redundancy has deterred Australians from actively seeking better-paying opportunities elsewhere.
A staggering 67 per cent stated they would not consider searching for better pay, even among those who have not been compensated for the rising cost of living.
To cope with the financial strain, one in five Australian workers (approximately 2.6 million people) have resorted to taking on second jobs (19 per cent) or increasing their hours with their current employer (18 per cent).
This trend is particularly pronounced among Gen Z, with 32 per cent taking on additional roles and 29 per cent increasing their hours, raising concerns about potential burnout in this generation.
While one in four (28 per cent) Australians are looking to change roles in the next six months, the job market remains highly competitive.
Job advertisements on Seek experienced an 8.6 per cent increase in applications per listing month-on-month in April 2024.
Clayton Colbert, Director of Randstad’s Construction & Engineering division, commented on the findings, stating: “While we know from our research that a decent salary is one of the top motivators for 59 per cent of Aussie workers, it’s not surprising, given daily headlines about redundancies, that Aussies are feeling too risk-averse to jump jobs for better pay.”
Colbert emphasised the importance of standing out in the crowded job market, highlighting the trend towards skills-based hiring, stating: “Employees must figure out what makes their skill set special and how to best define their personal brand in this context.
“Interview preparation and research is extremely important to ensure talent can clearly communicate those skills and further demonstrate their suitability to the organisation and culture.”
For those unable to change roles immediately, Colbert advised embracing upskilling opportunities to sharpen adaptability, communication, and problem-solving skills, positioning employees for future opportunities when the time is right.
