Financial security leads employment growth

A report by recruiter Hays has shown an increase in permanent jobs with the financial services sector leading the charge, but employers now need to recruit to take advantage of improving conditions.

The April to June Hays Quarterly Report shows that the number of permanent jobs is increasing, but employers are yet to adjust their recruitment timelines and criteria to reflect the change in the market.

“Job numbers are continuing their steady ascent,” says Hays Gold Coast director Darren Buchanan.

“We’re not only seeing replacement positions coming on to the market for roles put on hold during the GFC — each week we are seeing more and more newly created jobs appearing.

“The financial services sector, and in particular banking, is leading this charge. Large corporations have also begun recruiting, with the SME market taking longer to recover or perhaps being more cautious.”

Buchanan says despite a desire to recruit, some employers remain ‘fairly prescriptive’ in their permanent staff requirements and typically seek very niche, specific skill sets and local experience that are either hard to find or are in high demand by other employers.

“Obviously there is the option for employers to turn to short-term contractors to assist with deadlines and workloads while they wait for their ideal candidate to become available,” he says.

“While this is an excellent tactic in most circumstances, many of those contractors may also be actively seeking permanent roles and some employers could be left in the lurch completely. In addition, as the financial year end approaches demand is only going to hot up even further.

“Once a suitable permanent candidate is identified, employers will need to move quickly through their recruitment process. This means accommodating interview times that suit candidates for example. We would definitely recommend that employers review their recruitment processes to ensure they can successfully compete for the candidates they want in this faster moving market.

“The rising demand for staff means that the overall supply and demand ratio is falling away from favouring employers and a growing list of skills in demand is emerging.”

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