A “war for talent” is brewing as Australian organisations gear up to actively grow their workforce.
A “war for talent” is brewing as Australian organisations gear up to actively grow their workforce, reported recruitment firm Hudson.
The latest Hudson Report: Employment Trends found that the number of employers looking to increase staffing levels rose to 23.9 per cent in the final quarter of 2014, up from 21.2 per cent in quarter three. This represents the highest level since Q2 2013, and the highest quarterly increase in almost four years.
“Hiring intentions are all about sentiment, and employer sentiment has improved markedly,” said Dean Davidson, executive general manager, Hudson Australia.
“Our research shows significantly more employers are looking to hire than to fire in the final three months of this year.”
The legal profession appears to be most active, with the number of employers looking to boost permanent headcount of legal professionals almost doubling over the last three months, up to 44.8 per cent.
“We’re seeing a continued increase in the need for front-end transactional lawyers within private practice, especially those with three to five years experience. Firms are now playing catch-up after many years of downsizing,” Davidson said.
The Hudson Report also found that 60% of recruitment managers believe there is a talent shortage, with nearly 90% saying that sourcing the right talent is the most challenging aspect of the recruitment process.
Organisations are “already struggling” to identify the right talent, Davidson said, and given positive hiring expectations for the fourth quarter, “this challenge is only going to increase over the coming months and into 2015”.
“Make no mistake, there is a war for talent, and a challenge in finding the right people for key positions,” he said.
“To stay ahead of the competition, organisations need to establish a clear understanding of the skills and other attributes needed for their important positions, continually manage a talent pipeline, and ensure that they are delivering a compelling employee value proposition.”