AUSTRALIA IS IN THE MIDST OF A 'TALENT MISMATCH'

Written on the 22 September 2016

AUSTRALIA IS IN THE MIDST OF A 'TALENT MISMATCH'

A DISCONNECT is emerging between the skill level of unemployed workers and what Australian employers are looking for, according to Hays.

The 2016 Hays Global Skills Index shows that despite an existing pool of labour, employers in high-skill industries are struggling to fill jobs.

Hays Australia and New Zealand managing director Nick Deligiannis says growing job opportunities in highly-skilled industries is creating a 'talent mismatch'.

"Employers in industries such as engineering, IT, life sciences, financial services and professional services have higher demand for talent than those in low-skill industries," Deligiannis says.

"As it takes time to undertake the training necessary to work in these industries, it makes them more vulnerable to skill shortages since the number of people qualified to start work cannot be changed quickly."

Australia has increased from 5 to 5.1 on the overall index, indicating increased pressure in the job market.

The index is calculated through an analysis of equally weighted indicators, including 4.5 for talent mismatch - up from 4.2 a year earlier.

Overall wage pressure remains steady at 6.7, suggesting that most employers remain conscious of costs rather than use salary as a bargaining chip for talent.

"As our economy successfully transitions from the mining to the services sectors, headcounts are growing, market buoyancy is evident and employers report increased business activity," Deligiannis says.

"Given sentiment you'd expect commensurate salary pressure; however, employers instead remain cost conscious.

"It remains to be seen how long this anomaly will last, already turnover is rising and the shortage of highly-skilled candidates in high-skill industries is leading to wage pressure from candidates.

"While far from a universal trend, this suggests that employers must not be complacent in the face of the increasing shortage of skilled talent."

The report was published in collaboration with Oxford Economics.

 


Latest News

APOLLO REVS UP ITS RESULTS

APOLLO Tourism & Leisure (ASX: ATL) has hit its profit forecast in its maiden result as a publicly traded company...

JASMINE YARBROUGH AND TAMIE INGHAM TAKE MARA & MINE TO HOLLYWOOD

MARA & MINE entrepreneurs Jasmine Yarbrough and Tamie Ingham (pictured left and right respectively) slipped in...

HUGE PROFIT SPIKE FOR HELLOWORLD HEALS MERGER WOUNDS

HELLOWORLD (ASX: HLO) gripped the share market this morning after its announcement of a whopping 880 per cent increas...

PROFIT DROP AT SERVCORP

SERVICED office company Servcorp has seen its profit fall, citing New York City, Singapore and Saudi Arabia as the pr...

Related News

WHY EMPLOYEE-OWNED COMPANIES ARE BEATING ASX200 SHARE PRICES

EMPLOYEE-owned companies command a higher share price than their publicly listed peers, reaping a 17 per cent prem...

RISE OF THE MACHINES HAS WORKERS SWEATING

UP TO 3.8 million Australian workers are fearful their job may soon be terminated by a robot, a new survey has shown....

LESS TALK, MORE SMALL BUSINESS ACTION IN 2017

THE future growth and prosperity of Australian SMEs could be undermined if governments lose sight of the sector...

TEST DRIVE A POST GRAD AT BOND

THERE'S only one way to really move your career into the fast lane, says Bond University, and 'test driving...

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter