Worried about your talent pool? New research suggests there's every reason to be optimistic
Almost half (49%) of employers across Australia said they plan to increase their organisation's permanent headcount in the next six months, according to a new Robert Half report.
The survey revealed that while 41% of Australian employers will maintain their current headcount, eight percent will freeze hiring, and two percent will eliminate positions. This data is also strongly reflected in Australia's technology sector, where 53% of chief information officers revealed they plan to expand their current headcount over the remainder of 2022.
"We have seen historically low unemployment and high job vacancy rate records be set and broken continuously over the past 12 months, while participation rates and job creation continue to grow,” added David Jones, managing director of Robert Half Australia. “Despite signs of an economic easing, and international talent contractions in the tech space setting off alarm bells for Australian employers, our employment landscape tells a different story. Australia's current labour conditions point to an exceptionally strong position from which to navigate potentially more challenging conditions ahead."
In the finance sector, on the other hand, 49% of chief financial officers said they plan to maintain their headcount for the remainder of the year, while 39% said they plan to add new positions over the next six months.
Read more: Recruitment challenges during COVID-19
According to Jones, this increased hiring activity across Australia, as well as rising turnover and shrinking active job seeker market means the "competition for talent is growing fiercer."
And employers seem well-aware of this, according to the report.
In fact, 73% of employers think it is more challenging to find qualified employees compared to six months ago. According to these hiring managers, finding candidates with the right skills and cultural fit is the biggest challenge for them.
The report added that other influences to hiring plans include increased workload (50%), employee turnover (44%), and the current economic climate (44%).
Amid these challenges, Jones advised that employers should "remain open" to hiring candidates that have the potential to grow.
"While employers will be typically looking for many in-demand soft-skills and technical skills to fill roles in the coming months, it's important for companies to remain open to hiring candidates based on their potential to grow into a role with the support of ongoing investment in internal training, professional development and succession planning."
The report came after Australian Bureau of Statistics announced that unemployment has reached a 48-year low of 3.5%, while job vacancies increased by 13.8% between February and May 2022.
