Are you showcasing your business?
According to the Fin Review (June 2022) Australian businesses are crying out for more workers as the country copes with one of the largest labour shortages yet seen. The Australian Bureau of Statistics reported that there were 423,000 job vacancies in June and it seems to be no better at the time of writing in August.
With the unemployment rate at a 48-year low and sitting around the 4% mark, businesses are reporting some alarming statistics: 59% of job applicants do not have the right skills and 79% reported a lack of applicants entirely!
The sectors hit most by the current shortages are reportedly: trades, hospitality and tourism, information technology & communications, healthcare and manufacturing. That said, it is pretty tight all round!
On top of all of this, we continue to be impacted by the border restrictions of FY2020-21 which we saw the largest number of people leaving Australia since WW1. Student visas and working holiday visas have taken an enormous hit as well.
The real take-a-way is that the tables have turned – employers need to attract candidates!
It is no longer sufficient to place a job advertisement listing the requirements and the role functions; there is a real need to sell your business, especially your culture, to attract the best candidate.
Most business owners will be familiar with the Unique Selling Point model for the product or service they are selling. This can just as easily be applied to identify what you offer that is unique and special to attract candidates that have a true desire for the role, will love the culture you offer, have the experience you need and most importantly, stay for the long term.
We are finding a growing number of candidates seeking the option of hybrid working arrangements, good and regular salary review processes, social activities, health and well-being benefits, bonus schemes and more.
When you are planning your next placement, take time to stop and think how to best place your role in a competitive market.