Cost of living concerns trump Australian workers’ satisfaction

Four in five working Australians are more concerned about the cost of living than job satisfaction.

Research from technology company SafetyCulture details the challenges facing advanced industries amid years of inflation.

Working women were found to be more concerned about the impact of the cost of living, with 85 percent focused on price hikes compared to 75 percent of men.

Across both genders, 79 percent of the more than 2,000 employees and managers who took part in the study cited price increases as their biggest worry compared to any workplace grievances.

Hospitality and retail staff had the highest levels of cost of living concern of all others, at 84 and 80 percent respectively.

Chief product officer Sam Byrnes said leaders need to pay attention to how economic conditions are affecting staff.

“Frontline workers tell us they feel unheard, overwhelmed and compromised,” he said.

“Additionally, there are tensions between employees and management that are not conducive to a healthy workplace culture or optimal results.

“It’s time for businesses to wake up to the fact that listening to the people on the front line is one of the fastest ways to improve the bottom line.”

When workers surveyed were asked what would improve relations between management and rank-and-file employers, increasing wages and benefits came first.

Again, female respondents paid more attention to this: 58 percent of women versus 55 percent of men.

Sixty-five percent of Gen Z workers said better pay and benefits would improve relationships, compared with 51 percent of baby boomers.

The majority, 76 percent, of Australian workers are dissatisfied with some aspect of their job.

Among these, the top reasons include unreasonable expectations leading to burnout (37 percent), slow response to problems or risks (36 percent), and the need to cut corners to save time or money (33 percent).