According to the latest Hudson report, intentions to maintain current employee numbers is at its highest level since the Global Financial Crisis (GFC).
Global talent solutions company, Hudson, recently surveyed almost 3000 Australian employers about their hiring expectations for the next quarter.
The report shows that 63.2 percent of employers intend to maintain their current employee numbers, up by 3.6 percentage points since 2009; while 24.1 percent of employers expect to increase headcount and 12.6 percent expect to decrease their numbers.
“Australian businesses are demonstrating cautiousness as they focus on gaining market share and restructuring their cost base to achieve success in today’s conditions,” said Mark Steyn, CEO of Hudson Asia Pacific.
“There is an understanding that there may well not be a return to the pre-GFC boom times and leaders are focused on positioning their businesses to best compete and win in the new normal,” he added.
Here are some of the key findings outlined in the report:
- Intentions to hire and fire have reduced, and intentions to keep headcount steady is at the highest level nationwide since 2009
- Information Technology has the most positive hiring intentions of any profession (40.3 percent), followed by Professional Services (34.9 percent), Healthcare (excluding Government) (28.7 percent), and Resources has seen the biggest increase (27.1 percent, up by 8.2 percentage points)
- Hiring intentions for mining and resources have bounced back, increasing more than any other industry over the last three months
- Western Australia has the most positive hiring intentions of any state (32.5 percent, up by 1.6 percentage points), and Queensland has seen the biggest lift over the last three months (23.2 percent, up by 4.6 percentage points) – led by mining and resources
- South Australia has the least positive hiring intentions (18.2 percent, down by 4.4 percentage points), and the state’s intention to keep headcount steady is at the highest level recorded (68.4 percent, up by 5.3 percentage points)
Reflecting on the findings, Steyn emphasises the importance of assessing the skills and competencies of employees before repositioning an organisation.
“Developing your people is fundamental to successfully repositioning an organisation,” he said.
“Some organisations are focused on being more efficient and getting costs down, but are not questioning whether they have the skills and competencies they need to do that. Addressing any skills and capability gaps, while also rewarding, retaining and engaging high performers, ultimately underpins success in today’s environment, regardless of the market.”
The Hudson Report: Employment Trends can be accessed in full via their website.