Australian Firms Eye Overseas Workers

Turnover Down Under: Large Australian companies are trying to combat a spiraling increase in turnover, according to an article in The Age newspaper in Melbourne. Citing the Australian Institute of Management’s National Salary Survey for 2007, the report notes that turnover at big companies rose more than a percentage point, to 12.6 percent from 11.5 percent in 2006, and shows no signs of slowing down. Most alarming is the reason why most employees are leaving, with almost 61 percent citing greater career advancement opportunities. As a result, about 64 percent of companies say they would consider hiring overseas candidates to make up for the skills gap.