Key survey findings:
(Source: 2014/15 Michael Page Australia Salary & Employment Forecast)
31% of surveyed employers indicate they plan to increase headcount over the next 12 months.
52% of surveyed employers expect staff to leave their role in the coming year.
26% of respondents say a salary increase is the top reason employees are likely to move roles in the coming year.
- 41% of surveyed employers indicate the most popular tool for attracting and retaining staff is encouraging a strong company culture.
8 July, 2014: Increasing business confidence is just one driver leading to expected jobs growth and hiring activity in Australia’s professional employment market, according to findings in the 2014/15 Michael Page Australia Salary & Employment Forecast. This outlooks means talent management is an even greater priority for employers over the coming year.
Based on responses from 2,200 surveyed employers, close to a third expect to increase headcount in the teams during the next 12 months with the majority (59%) hiring professionals at the mid level. A healthy hiring market is expected to fuel jobseeker activity; just over a half of employers expect staff turnover in the coming year with the two key reasons being to improve salary (26%) or broaden experience and the opportunity to learn (25%).
“There are several emerging drivers impacting the professional employment market over the coming year,” says Mr. Simon Meyer, Managing Director of Michael Page in Australia. “Business confidence is rising and companies are shifting their focus to growth rather than cost control, while the influx of Asian-owned organisations either buying Australian companies or financing new ventures in the domestic market is beginning to create hiring activity at the C-level.”
As hiring activity improves, employers are looking closely at talent management. For the bulk of surveyed employers (41%) the most popular tool for attracting and retaining staff is a strong company culture, while 18% believe it is offering structured career progression. In terms of remuneration, 53% say they will offer salary increases to staff based on performance and 63% will include a bonus as part of the remuneration package. Other rewards offered to entice staff in the coming year include flexible working arrangements (78%) and a mobile phone (79%).
“Growing demand for quality professionals is also being driven by increasing activity in public and private sector infrastructure, financial services, retail and property. This demand will be met by professionals eager to secure a new opportunity after the challenging employment market conditions we have experienced over the past few years,” says Mr. Meyer.
“The best thing employers can do is to act now to secure the top talent their business needs to drive innovation and growth. Those who hesitate risk being left behind as the war for talent in the Australian market heats up again,” he adds.