Monthly Market Review February 2023

Posted on Tuesday, March 7, 2023 by EditorNo comments

As we shift into Autumn we can confidently say that the expected seasonal lull we experience over the Summer months in recruiting is now over.  Despite rising interest rates, inflation and the impact of global events, Australia, and Central Queensland, continue to have a buoyant labour market.  Vacancies in the region continue to be high and although by no means immune, the region is in a strong position to defy a probable recession.  However, not all businesses are impervious, and it is inevitable that many will be feeling the impact and facing harder times.  While some local businesses will be letting go of employees amidst the downward global trend, there are a myriad of others ready to snap up candidates coming into the job market.

Hospitality, Healthcare and IT

Here in Central Queensland, we continue to see very high demand for workers in trade and industry and we welcome government initiatives to entice skilled workers to migrate to our country and region.  However, it is interesting to note that whilst we continue to focus on attracting engineers, surveyors, construction managers, accountants and doctors to our region, the workers in demand right now come from a very diverse skill set.

The hospitality and tourism industry features strongly in the list of in-demand workers, with chefs, cooks, waiters, barista’s and kitchen hands all sought after.  Healthcare professionals such as registered nurses and dentists, along with aged and disability support workers remain in high demand.  IT is an industry where demand for professionals is growing, especially considering cyber safety and our growing reliance on cloud-based technological business solutions.

Opportunities to shift careers

With demand for workers widespread across the board, the opportunity for workers to shift professions and industries is greater than ever.  And although experience in a particular industry is always highly regarded, we are starting to see a shift towards technical up-skilling of workers, where they leverage their existing skills alongside learning and development in new industries. 

Transferrable skills such as customer service, can see workers transition from retail roles into IT support, both of which require good communication and patience with customers and clients.  Other skills in high demand that can shift across industries include teaching, project management and sales.

Whilst workers brush up on their skills and knowledge to move roles, employers also need to maintain their competitive edge in the jobs market to ensure they are securing the top talent.

Employer Branding  

You may, or may not, have a formalised employee value proposition (EVP), but it is becoming increasingly important for employers to develop, or review their EVP in today’s competitive jobs market.  If you find your business has a high turnover of staff, or your job offers are being rejected, re-visiting your EVP is a really important step in ensuring that you are doing your best to align your employee offering with the wants and needs or current candidates. 

Your EVP will sit closely alongside your brand, and as such it will be unique to your particular business.  In considering your EVP, ask your existing staff what they value in the workplace, and what they would like to see introduced to increase their engagement.  This can be a conversation or by survey.  You may be surprised that the top things your employees want are not necessarily focussed on reward and recognition.  Job satisfaction, by way of meaningful and interesting work, challenging goals and growth opportunities are often desires revealed during the survey process.

Employers who articulate their EVP through their brand marketing can stand out from the competition and secure new workers.  This is not only through the job advertisement itself, but your website, social media, networking events and very importantly, word of mouth, to name just a few.

Attracting new talent goes both ways

The opportunities are there for both skilled workers and businesses in Central Queensland to grow in the current economic climate.  But in order to do so, it is just as important for businesses to brush up on their EVP and brand, as it is for candidates to demonstrate the latest relevant skills and stand out from the crowd.

Jobs In Central Queensland offer a holistic approach to your recruitment needs. 

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