Current Employment Market
Current Employment Market
I was recently chatting with a friend who had just returned to Australia after spending 6 years in the UK. He was keen to get a feel for the current employment market in Brisbane to help him decide whether to move on to Sydney or Melbourne for work, or stay in Brisbane, which was his preference. It got me thinking.
The Brisbane market is traditionally two-paced, with some industries doing very well, while others not so well. Despite this, most industry sectors in Brisbane are struggling to find good quality candidates. Why:
Fear of the unknown leading candidates to stay where they are. Every day we are hearing that the housing market is failing, and the next economic recession will soon be upon us;
Political instability - no surprises there;
Candidate expectations are higher, particularly around salary, location and hours of work;
Boom Bust mentality. Many candidates, particularly trade based gravitate towards the higher earning jobs. Currently, the mining sector is undergoing a resurgence;
The GIG economy is providing opportunities for many entrepreneurial types to test their abilities with minimal start-up capital - have you spoken to an Uber driver lately: and
The candidate search options are so fractured, that you must spread across multiple media to find candidates. Many employers still only utilise one main avenue for placing job ads, which often reduces the probability of a successful outcome.
What is the solution?
If there was one simple fix, we would all be doing it. However, the solution will require a mix of the following:
· Be very clear on your People Value Proposition (PVP). This isn’t just salary, but includes the full spectrum of why someone would want to join your Team. Once you are clear on this, you have something to sell;
· Be quite specific on the 5 critical skills/attributes that the candidate must have to be a successful member of your Team. Any more than 5 really fall into the “nice to have” category;
· Establish your recruitment plan – multiple media, professional network, or partner with a Recruitment Agency. Most importantly – Review; Plan; Act; and then Review; Plan; Act;
· Be patient, but consistent as you stick to your plan. You will get to your desired outcome eventually. Rushing to fill a position for the sake of filling the position is problematic.
Timing is everything of course and January is fast approaching, which is a time when more candidates are happy to “dip their toe” into the employment market – just to see what is out there.