1 in 3 employers today are planning to increase staff numbers
In the face of political uncertainty and challenging economic conditions hiring sentiment is resilient: around 1 in 3 employers today are planning to increase staff numbers. Human Resources, Technical & Engineering and Technology & Digital are among the most in-demand professions today, with 2 in 5 employers planning to grow headcount in these functions. The Technology sector has continued its journey of taking over from mining as a driver of jobs growth, followed closely by Professional Services. Yet across professions, employees are signalling they are on the move.
Hiring market remains buoyant
The net effect (% of employers intending to inrease headcount minus % of employers intending to decrease headcount) is at 22.6% – just a slight dip on the H1 outlook and among the highest it’s been for over four years. It appears that despite confusing economic and political signals, employers are simply getting on with the job at hand.
The ACT leads the country in terms of growth, where almost one in two, or 49.1%, are looking to add staff. This reflects the territory’s successful move to diversify its industries beyond the public sector. Technology and professional services, in particular, are flourishing in our nation’s capital.
The WA, Queensland and SA job markets have started stabilising after a tough year in 2015, impacted by the resources downturn. Not only have commodity prices recovered somewhat*, but the worst is hopefully over in terms of job losses caused by projects moving from construction to operational phase**. NSW and Victoria continue to perform strongly, with hiring intentions tracking in line with the national outlook.
Shift to knowledge-based economy continues
Australia’s transition from a commodities-based economy to a knowledge economy is continuing apace.* Roles in the Technology & Digital and Technical & Engineering professions are in high demand, and there is a boom in Technology sector hiring. Similarly, the healthy hiring outlook for the Professional Services sector reflects the way services are driving the economy, and stands in contrast to Resources & Mining.
The booming demand for Human Resources is driven less by HR Officer-type roles, and more by change management and L&D experts, as organisations grapple with constant evolution and the ongoing need to invest in skills development.
Accounting & Finance roles are languishing behind other professions, as employers make do with less. Many companies are yet to transform their accounting teams into true business intelligence units and, as a result, are unwilling to invest significantly in them. Opportunities exist here for smarter hiring.
The Hudson Report - Australia H2 2016 - "Today's workforce demands tomorrow’s skills"
Read the full article at - http://au.hudson.com/portals/au/documents/hudson_report_h22016_au.pdf