84% of Australian SMEs bullish despite worker shortages

The vast majority (84%) of Australian SMEs are confident in their ability to grow over the next 12 months despite the impacts of ongoing workforce volatility, according to research from SAP.

A survey of Australian SMEs found that the worldwide trend of employees leaving their jobs, which commenced in 2021 and has been coined the Great Resignation, is having its impact on local SMEs.

Nearly half (48%) of respondents agreed that more employees are resigning now compared to just 12 months ago, and 57% reported that they are not finding it easy to cope with the impact of the Great Resignation.

The workforce volatility is impacting organisations’ digital transformation plans, as reported by 89% of SMEs, even though 67% also agreed that digital transformation is very important to their organisation’s survival over the next year.

In response to these impacts, 55% of Australian SMEs say upskilling to support digital transformation is urgent, with 36% planning to provide upskilling opportunities to retain key talent in the next 12 months. Meanwhile, 82% of Australian SMBs will focus on digital training throughout the year.

“Our small and medium-sized businesses are a bellwether for the wider economy, as the nation’s biggest employer. I firmly believe that when SMBs thrive, economies grow, and Australia prospers. By harnessing this optimism and putting it together with great innovation, a commitment to talent and a strong partner ecosystem, we can chart a course to the next decade of SMB success in Australia,” SAP Australia SMB Segment Lead Sofiane Ainine said.

“The Great Resignation has often been misconstrued as employees leaving to pursue their purpose. That’s not the whole story. Prioritising upskilling and career progression, and supporting it with access to the right technology and partners is proven to be a win-win for employees and for SMBs here in Australia.”

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