As the employment market continues to feel the pressure of talent shortages, the complex relationship between employer and employee is experiencing new levels of tension. This is due to the widening expectation gap between what employers can realistically offer versus what employees want.
Randstad’s employer branding research shows that attracting and retaining great people has never been more challenging in today’s market. It’s clear that employees are more empowered than ever and will switch employers if they believe a new role aligns more closely with their values and career aspirations.
Despite this talent turbulence, G8 Education has been named the most attractive employer in Australia in the latest Randstad Employer Brand Research.
The annual employer brand research surveys more than 6,000 Australians and reflects the public perception of employer attractiveness. This year’s winner of ‘Most Attractive Employer’ is G8 Education, Australia’s most significant quality early childhood education and care provider. It was recognised for having vital financial health, job security and excellent career progression.
uncovering what makes a winning employer brand
Randstad’s research found that one of the most significant contributors to employer brand attractiveness is financial health, with 41% of respondents saying it’s essential when considering what makes a great employer. After three years of huge disruption and, more recently, being faced with rising living costs, an organisation’s financial health is a significant drawcard for employees.
personal career growth was also seen as important for 57% of respondents.
- This increased to almost 69% for 18–34-year-olds and 68% for those with higher education.
- Reskilling or upskilling was also high on the agenda, with 69% of employees saying this was very important. Interestingly, only 58% believed their current employer offered these training opportunities.
job security is the third most crucial factor for employer brands, as 56% of respondents rated it critical.
- This differs somewhat between different ages and life stages. For example, the research shows that female job seekers rate job security as vital to them more often than male job seekers (61% vs 51%).
- Additionally, feeling secure in their job is more critical for Boomers (65%) versus any other generation (Gen X - 60%, Millennials - 54% or Gen Z - 51%).
Understanding what sets winning employer brands apart is even more critical. Early signs suggest the employment market could enter a new phase following the much debated ‘Great Resignation’.
Our research suggests that 'The Great Regret’ could be just around the corner for some jobseekers, given that one in four (28%) indicated they intended to switch employers in the first six months of 2022. Unfortunately, the grass is not always greener.
For example, focusing on achieving short-term goals like a salary increase versus longer-term priorities like training and development.
Interestingly, supporting employees to upskill or re-skill might be the key to retention. Our research shows that two-thirds (66%) of respondents were likely to stay with their existing employer if they could re-skill or upskill.
what G8 Education does so well
Early education, government agencies and corporate organisations took out many spots on this year’s top 10 list, with G8 Education top of the pack. With more than 440 early childhood education and care centres throughout Australia, the company is focused on the education and care of children, guided by core principles of passion, innovation, dedication, compassion and integrity, and encouraging lifelong learning, development and growth.
The brand puts a big emphasis on company culture and supporting employees to do their best work. For one, the company has recognised the growing need and demand for work-life balance, with greater flexibility and recognition of other priorities, such as mental health or family, now at the forefront for many employees.
The Randstad employer brand study found that when asked what changes employees want from their current employers to help them achieve and maintain a healthy work-life balance, employees named five key areas:
- flexible work arrangements (44%)
- training and development (36%)
- wellness and mental health resources (35%)
- salary protection/fair compensation (31%)
- offering career development (29%)
Putting more focus into these areas has paid dividends for G8 Education.
G8’s Chief Executive Officer, Gary Carrol says that by highlighting the role their educators play in educating and caring for Australia’s future generation, and offering their employees a purpose-driven and fun working environment, this has translated into an attractive employer perception. And clearly, jobseekers agree.
G8 Education also invest in developing their people by offering study pathways that enable their educators to complete their Certificate 3 right through to their Bachelor’s degree.
A top takeaway from Randstad’s 2022 research is that there is a significant gap between what employees want from employers and what companies deliver.
Noticeably, travel organisations and healthcare providers, usually high on the attractive employer list, were absent from this year’s top 10. This reminds us of the difficulties of the last few years, and that change is always around the corner.
With the research indicating that just over one in four employees (28%) intended to change jobs in the first 6 months of 2022, employers must be aware of what is currently seen as the hallmark of a strong employer brand. Employers should act now to avoid the current ‘The Great Resignation’ trend becoming ‘The Great Regret’.
By prioritising key employee brand drivers identified in our research, like work-life balance, training and development, and health and well-being, employers can build a competitive advantage when attracting and retaining a solid team.
Pivoting and realigning employer value proposition priorities to match what people and teams are looking for means successfully providing more excellent work-life balance, job security, attractive salary and benefits, and a more incredible feeling of support and healthy company culture.
This will benefit those currently working for the company and establish a strong reputation that will help to continue attracting the talent required to move from strength to strength, even during tumultuous times.
about the randstad employer brand research
This research measures the employer brand perception of the largest 75 employers in Australia. By seeking the feedback of over 6,000 working-age participants locally, the research provides a unique look at the shifting and emerging employer brand trends and is available to businesses in Australia right now.request the research