A new report from Findex suggests “The Great Resignation” has arrived in Australia with one quarter of SMEs experiencing higher than usual staff turnover:
The Great Resignation is “no longer looming but very much here”, according to new data from financial services firm Findex which has found one in four SMEs are already experiencing a higher than usual turnover following the onset of COVID-19.
As Australia and New Zealand pivot from their elimination strategies to living alongside coronavirus, staff retention is emerging as the top business concern for the year ahead. In a survey of more than 500 SMEs, Findex found that half of businesses (53 per cent) are concerned about their ability to retain staff over the next twelve months. Furthermore, one in three businesses (33 per cent) have noticed a drop in employee satisfaction this year.
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Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
