Employers now considering 'alternative' talent pools to bridge the gap
The majority of South Australian employers are still suffering from labour shortages, according to a new report, which revealed that businesses are dipping into other talent pools to help fill vacancies. The Business SA Survey of Business Expectations revealed that 69.6% of organisations experienced labour shortages in the September quarter. According to the report, employers believe the main reasons for the shortage are:
To bridge the gap, 70% of employers said they’re willing to pay "more than 10% over market rates." Others said they’re implementing flexible working hours, offering remote work, and providing starting bonuses between $1,000 to $5,000 to lure in more jobseekers.
The report further revealed evolving standards amongst hiring managers when it comes to recruiting talent. In the last year, 57.5% of employers said they considered hiring someone from an "alternative hiring pool," such as older workers and workers with disability, while another 45.6% said they hired an employee who did not meet their prerequisites.
Hiring international talent was also considered by 42.3% of employers, while 25.5% said they considered employing international graduates. However, they added that hiring international talent is "not always a viable option."
"The comments told us how challenging this can be," Business SA chief executive Andrew Kay said. "If the visa process is complex even for large corporates to negotiate, it can be a bridge too far for the small business operator."
Recruiting international talent is starting to gain momentum for many Australian businesses. In October, business groups urged the federal government to consider international graduates to address the employment shortage.
"The workforce need is here now, and keeping existing international graduates in Australia for longer would be an immediate boost to available labour for critical jobs in key sectors," said Andrew McKellar, chief executive of the Australian Chamber of Commerce and Industry. "These international graduates stayed in Australia through the pandemic, and we should recognise that commitment rather than excluding them. It's a win-win."
