As the return to the office continues, recruitment for us has picked up enormously. Adjusting to a new normal, businesses are looking to the future with 21% expecting to increase staff over the next 3 months. In an increasingly difficult candidate market businesses are turning to recruitment agencies to support their hiring efforts.
Candidates are prioritising a hybrid working model and most businesses are matching these expectations. Temp to perm as a hiring strategy is not recommended in our current market. The candidate pool is already highly constricted, limiting your selection of talent even further. If your need is urgent, we suggest hiring a temp and simultaneously putting in place your permanent hiring strategy.
Salary increases are back to pre-pandemic levels with full-time earnings overall up 2.1% over 2021 and up 3.4 for white-collar workers. The report shows workers in the administrative and support services space had some of the lowest salary increases, below-average levels, at 2%. This is contrary to what we have seen specifically in NSW and Victoria. For non-government positions, within the administration space, we have seen increases on pre-pandemic salary levels between 10% to 20%. We are currently working on our latest EST10 salary guide, you can expect this out at the end of March!
With an abundance of jobs, almost on tap, market conditions provide candidates with stronger negotiating power. Passive job seekers are making up a large proportion of new hires, meaning approaches and headhunting is at an all-time high. Offers need to be enticing and not just a salary increase. Consider making yourself an employer of choice. If you need some advice, read this article.
‘If you don’t have an Executive Assistant, you are one.’
– Cameron Herold, The CEO Whisperer & Business Growth Guru
The temporary market continues to remain strong. As a backup to challenges in hiring for permanent placements, clients are increasingly turning to temporary options.
Working Holiday Visa holders are slowly making a return to Australia. According to ABC News, there are almost 30,000 working holiday-maker visa holders outside Australia. With many of these expected to arrive by late April, we expect to see an influx of temporary workers over the coming months.
Additionally, increased flexibility in visa conditions allows individuals to work for the same employer beyond the previous 6-month limit. Longer-term assignments are more appealing for candidates and offer employees continuity over a longer period.
It would be remiss of us to provide an update without mention of ‘The Great Resignation’. We are seeing people shifting and changing roles, but not to the degree the media would have us believe. I prefer to refer to it as the reshuffle!
That being said, hiring is far from easy. Businesses are facing the challenge of retaining their employees, whilst attracting fresh talent to fill vacancies. Watch our February Market update for suggestions on how to navigate this!
Coming soon… Employable workshops! Based on the 7 attributes from Employable, we will soon be offering workshops for your team. 74% of workers are willing to learn new skills to remain employable and 59% say development opportunities are extremely important when deciding whether to apply for a position. Contact us to discuss your teams’ requirements.
‘One of the things we often miss in succession planning is that it should be gradual and thoughtful, with lots of sharing of information and knowledge and perspective, so that it’s almost a non-event when it happens.’
– Anne M. Mulcahy, Former Chairperson and CEO of Xerox
At EST10, our marketing crew has been kept busy finding you the best speakers for our free monthly Masterclasses. You can join us for our next one with the amazing Rachel Service. As CEO of Happiness Concierge and author of There Has To Be More: The Essential Guide to Personal Growth, Rachel will share her belief that when we create our own version of success, we take control of our life and work!
In the Masterclass, learn practical techniques to engage your virtual or hybrid team.
Register here, for Rachel’s Masterclass on Wednesday, 9 March at 12:30 pm.
Coming up in April, EST10 will have not one, but two amazing Masterclasses!
Register here, for Alison Earl’s Masterclass. Alison is a Mindset & Behaviour expert and will empower us to self-directed change on Tuesday, 5 April at 12:30pm.
Register here, for Dr. Kerry Howells’ Masterclass. Dr. Howells will guide us on how to improve our well-being by moving from resentment towards gratitude and leading a more fulfilling life on Wednesday, 27 April at 12:30pm.
Lots more coming up, so stay tuned…