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2020 recruitment and hiring outlook for Australia
With 2019 behind us, all eyes are set on the future as the new decade brings with it renewed energy for change and opportunities for Australia’s 12.9 million employees.
Despite a predicted slowdown in the economy, the nation’s workers can be optimistic as trends in entrepreneurship, technology and a growing service sector are expected to generate strong job growth in most industries. However, changing organisational structures and the fourth industrial revolution will transform the job market in the near future.
So what does 2020 hold for Australia’s job market?
Recruitment for talent in these industries set to boom
Although megatrends in data and connectivity are causing disruption and innovation across the nation, traditional service roles are expected to see the biggest growth in 2020. Jobs Outlook reveals two out of every three new jobs created will come from one of four main industries:
- health care and social assistance,
- education and training, and
- professional, scientific and technical services.
With an ageing population, the National Disability Insurance Scheme and growing demand for childcare and home-care based services, health care and social assistance is Australia’s largest and fastest growing industry. The field currently employs over 1.5 million people and is expected to generate tens of thousands of additional jobs in the coming half-decade.
Meanwhile, investment in national infrastructure and a growing population means continued growth in the construction and property sector. Building and plumbing labourers, engineers, construction managers and casual labourers will be in high demand as more roads, railways and airports are built in the next 5 years. Similarly, Australia’s growing population and high demand for trained professionals means the education sector is set to boom, with strong demand across the board in primary, secondary, adult and community education.
Despite the fact that service roles are expected to account for the lion’s share of job growth in 2020 and beyond, demand for employees in the professional, scientific and technical services is also predicted to skyrocket. Fuelled by the global tech revolution, demand is growing for skills in computer system design and ICT. Similarly, management, consulting, legal and accounting professions are in high demand as more Australians embrace entrepreneurship and our start-up culture evolves.
Employees choosing opportunity over remuneration
The latest Michael Page Australia Salary Benchmark 2020 Report revealed that, while salary is important for employees, it’s far from being the top driving factor when it comes to job satisfaction.
According to the report, 94% of professionals say unsatisfactory monetary benefits weren’t top of mind when deciding to leave a job — and both gen X and millennial employees said they would have stayed in their last company if they were offered more training and development plans, and if employee engagement was strengthened.
For job seekers on the lookout for new opportunities in 2020, these insights shed valuable light into the growing importance of personal and development opportunities, as well as a positive work culture when accepting a new job.
Job seekers must prepare for automation
According to the latest OECD report, 36% of Australian jobs are at risk of automation over the next 15-20 years therefore job seekers in all industries will need to adapt in order to remain competitive. In fact, a recent survey by the World Economic Forum found employers thought that, by 2022, more than half of all current employees would require significant reskilling or upskilling.
While mundane and repetitive tasks are highly likely to be automated, this doesn’t mean entire positions will be eliminated — they’ll simply be transformed. To prepare for the inevitable, professionals should focus on developing interpersonal skills and seek to gain an understanding of technology to stand the best chance of career success in the future.
In addition, the job search will become increasingly digital as recruitment agencies use artificial intelligence to improve the screening process for talent options. A study found 63% of recruiters say that AI has affected their organisation’s hiring practices — and, as machine learning becomes more sophisticated, candidates need to prepare for automation in the early phases of the job hunt.
Interviews with chatbots, online recruitment via digital applicant tracking systems, and an increasingly transparent digital footprint are all foreseeable, as HR teams seek to improve and streamline the hiring practices.
For more hiring and recruitment trends, read the full Michael Page Salary Benchmark Guide 2020 here.