Hiring intentions hit 18-month high
Job prospects are improving across the country, as the latest Hudson Report on Employment Trends shows hiring intentions are their highest in 18 months.
A total of 23.9 per cent of companies are hoping to increase their staff base during the final three months of the year, making it the highest level the index has reached since the second quarter of 2013.
However, one of the biggest barriers to taking on new employees is a shortage of talent, as 60 per cent of those in charge of hiring cited this as a major issue.
“During the slower growth of the past 18 months, organisations may have felt comfortable waiting to fill current – and potential – open positions,” noted Executive General Manager at Hudson Australia Dean Davidson.
“Make no mistake, there is a war for talent, and a challenge in finding the right people for key positions.”
There is a mixed picture for employment across the country, with demand especially strong in Western Australia. The number of businesses hoping to increase their head count was up 7.6 per cent in the state.
The same could not be said for New South Wales, where the amount of companies in search of new permanent employees witnessed a 0.6 per cent decline over the quarter.
Companies may benefit from investing in HRMS software in order to develop employee loyalty and reduce the need for recruitment.
The latest figures from the Australian Bureau of Statistics (ABS) also shed positive light on the state of the economy at the moment, pointing to a 0.3 per cent fall in unemployment during August.
This put the total unemployment rate at 6.1 per cent over the course of the month, with seasonally adjusted labour force participation increasing 0.4 percentage points.
Much of this rise was driven by an increase in part-time employment for both men and women, as the number of hours worked escalated by 18,700 hours over the course of the month.