Trends affecting the Aussie labour market

The annual Vivid Sydney has become more than just a celebration of light. The program this year also included Vivid Ideas, billed as an annual celebration of innovation, creativity and community that spans the innovation and imagination sector: from technology and start-up culture to design and architecture, film and screen content to visual arts and performance, advertising and marketing to animation, VFX, lighting and events.

Part of the recent festival was the sold out ‘Future of Work’ event, which explored the many ways the nature of careers is changing and how Australia compares on the world stage.

According to Indeed.com, there are three fundamental data-led trends that are affecting the Australian labour market.

Every company is now a technology company and it’s creating a skills shortage

• Worldwide, only one in four software developers work for software companies.
• Five of the 10 most chronically unfilled jobs in Australia are technology related.
• Many chronically unfilled IT roles are the jobs that should be driving either revenue or innovation for Australian-based companies, meaning the country is struggling to remain competitive.

The Internet is globalising labour

Skilled labour crosses borders and smart companies follow.

• 9% of skilled labour globally is actively looking for jobs abroad.
• One in four job seekers in Australia look at opportunities outside the country.
• A quarter of the world’s educated population resides in just 100 cities. Companies are following the talent; Aussie start-up Atlassian’s new office in Austin, Texas, is a good example.

Workplace flexibility is a must

With fewer physical constraints to work, the age of the nine-to-five job is under attack and there is increased pressure for workplace flexibility.

• After pay, flexibility is the most important requirement for Australian workers and job seekers, with 51% of respondents to an Indeed survey stating this.
• Two out of three Australians would consider earning extra money by working for on-demand services such as Airtasker, Freelancer.com or Uber.
• 76% say the nine-to-five employment model is too inflexible.

Paul D’Arcy, SVP, International at Indeed, commented: “The future of work is all about how to train, attract and keep the best people. The right people and skills are crucial to a healthy working economy.

“The good news is that Australia is a top world destination for talent, which can be a foundation for job creation and economic growth. However, education, policy and immigration must all work together, hand in hand with businesses, to help Australia remain competitive.

“Ultimately, we predict that labour markets will restructure themselves to better use existing talent and to create more opportunities for more of the population. Flexible roles and the growth of on-demand services like Uber are evidence of this starting to happen. Australian companies can attract the best talent by offering increased flexibility, which is a top priority for talented job seekers.”