New research released by global employment specialist Randstad shows that almost half (46 per cent) of Australian workers believe they are overqualified for their job, while only 16 per cent admit to being underqualified for their current role.

 

While it may seem Australian employees are quick to tout their ability, the latest Randstad Workmonitor Report shows that Australians are significantly more restrained in describing their abilities than most of our Asia Pacific neighbours.

 

CEO of Randstad Australia and New Zealand, Frd van der Tang, says the results highlight the growing importance of workplace training and education.

 

“Australia has always placed a high priority on education. Achieving a certain qualification, be it skill or educationally based, is viewed as a pre-requisite for the majority of roles in the country. More than this, however, levels of education and training are often a means of distinguishing ourselves within the workforce, and it’s understandable we quite proud of these achievements.

 

“With the Asian workforce growing exponentially, workers are up-skilling in a bid to better distinguish themselves in a global market. This could soon have a knock-on effect on the Australian workforce, especially in sectors which are already experiencing skill shortages,” says van der Tang.

 

Over half (57 per cent) of respondents expressed concern about a forthcoming shortage of highly qualified staff over the coming three years, while 59 per cent admitted they believed businesses will suffer shortages.

 

Fred van der Tang says if this brain drain does occur, there could also be a greater influx of qualified workers from Australia’s neighbours.

 

“With so many of our neighbours believing they are overqualified for their current role, it’s logical to think they will look to develop their career in an environment where greater opportunities exist. If Australia is experiencing a shortage of highly qualified professionals, employers will be calling out for international workers to fill the roles.

 

Mr van der Tang warned that now is the time to focus on retention, reward and engagement strategies to ensure businesses don’t experience crippling shortages.

 

“Training, up-skilling and having a career path are key for people these days, yet the results show Australian businesses are slightly lagging in the region, when it comes to offering these benefits,” Mr van der Tang said.

 

“Employees want to know their career is progressing, otherwise they will start to look elsewhere. While other factors do impact on overall satisfaction levels, often the businesses which provide workers avenues to further their career, whether through succession plans or training programs, are the ones that will enjoy higher retention rates,” says van der Tang.

 

The study also showed that only 27 per cent of workers are currently satisfied with their current jobs, with 9 per cent actively looking for a new job and 72 per cent doing so passively.