Almost half say hiring skilled talent extremely difficult in current markets
Nearly nine in 10 business leaders in Australia are recruiting overseas as the struggle to find skilled talent continues, according to a new report from Globalization Partners (G-P).
In the report, 47% of Australian executives said hiring skilled talent within their current markets remains extremely difficult, up from 34% in 2023.
As a result, 86% of business leaders admitted that they are now hiring employees from other countries, while 46% are planning to tap into candidates with a non-traditional background or education to meet their talent needs.
The move to go global comes as 97% of executives agreed that the ability to establish a market presence in multiple countries is essential to remain competitive, according to the report.
"There's never been a better time to build a global team," said Nicole Sahin, founder and CEO of G-P, in a statement.
The findings come as skilled shortages in Australia continue, with job vacancies still 45.1% higher than before the COVID-19 pandemic, based on the latest data from the Statistics Bureau.
Meanwhile, more than half of Australian employees (57%) are planning to join the job market in the next six months, and 36% are considering moving to a different region or state for their career.
But organisations aren't the only ones that want to go global, according to the G-P report, which found that employees also have a strong preference to work for global firms.
It found that 84% of employees want to work for a global company, up from 79% last year and exceeding the global average of 80%.
"Australian employees are increasingly drawn to global companies, mainly due to the appeal of better pay, enhanced benefits, travel opportunities, and greater flexibility," said Charles Ferguson, APMEA General Manager, G-P, in a statement.
"At the same time, employees now expect more from leaders, particularly in the skills needed to successfully manage global teams."
