One in five Australian workers have accrued more than four weeks leave, as an insurance policy in case they lose their jobs.
The latest ELMO Employee Sentiment Index (ESI) report found economic conditions were prompting some employees to bank leave, despite the fact many were starting to feel more secure in their jobs.
“This is driven largely by older generations, as only 39 percent of Gen Z feel their organisation is secure,” the report stated.
It found while perceptions of job security had increased slightly this quarter, there was a correlation between employees saving leave, increased workload and anticipating the need for a “payout” just in case.
The survey revealed:
- One in five had accrued over four weeks of annual leave.
- Three in five had barriers preventing them from taking leave, with 21 percent of those saying it was because they were too busy.
- 43 percent reported their workload had increased over the past three months.
The latest ESI report also showed there was less worker mobility in the recent quarter.
“Gen Z employees however appear to be on the move, as twice as many started a new job compared to the national average.”
The report found they were also much more likely to have:
- Actively searched for a new role in another company.
- Applied for a new role in a new company.
- Interviewed for a role in a new company
Download the Employee Sentiment Index Q3 2024
