What the latest Employment figures mean for Australian businesses

What the latest Employment figures mean for Australian businesses

Market Research group Roy Morgan has shown strong employment figures for the period of June 2021.  There was a ‘record high’ of 13.36 million people employed during the month, with 8.8 million of these being full-time roles.  The under employment rate remained the same as the previous month – 8.5%.  

As well as this, job vacancies are increasing for businesses.  While this is a positive sign of the economy moving towards recovery post-COVID, this can also cause problems for businesses.  The strong employment figures and increased vacancies indicate a growing demand for labour.  The ABS has indicated labour shortages in certain markets.  “When we asked businesses experiencing labour shortages the reasons for this, more than usual they noted difficulty in filling vacancies for lower paid jobs,” said Bjorn Jarvis, the head of Labour Statistics at the ABS.  Many of the largest vacancies are in the following industries: accommodation and food services, retail trade, construction, health care and social assistance, according to the ABS.

So what can businesses do to fill ‘hard-to-fill roles?

  1. Focus on candidate mobility

The first step when considering a job vacancy should be to look within the organisation to see if the role would be a good fit for someone already employed in the business to move into.  Candidate mobility is fantastic for improving on attrition levels and enhances a positive company culture.

2.  Always be recruiting

Many businesses recruit for roles only when they have an urgent need.  This puts a lot of pressure on the recruitment process and on the business.  As a result, many businesses opt for the best candidate they can find, even if they are not necessarily the right fit.  Candidates that aren’t the right fit for a business can sometimes be detrimental and can difficult to move on.  

A recommended approach is to recruit actively throughout the year and maintain relationships with a wider range of candidates that you can potentially source from when you have the need.

2.  Look for transferrable skills

Many candidates might have a strong skillset in another industry which might be beneficial for your business.  By increasing your ‘net’ and attracting non-traditional candidates from a wider range of industries, your recruitment pool will also increase.

3.  Ensure your job ads are optimised

Ever read a job ad and feel like it was stale, impersonal and unrealistic?  Maybe it included the words ‘Superstar’ or ‘Exciting’.  Candidates are attracted to advertisements that read as they speak, that are authentic and personalised.  If you require support to improve the quality of your job ads, you could consider outsourcing to an expert.
If you would like to discuss your recruitment challenges, speak to the team at Flexi Personnel.