Recruitment Headache Worsens

[Sydney, AUSTRALIA] One in five telcos and one in 12 banking and finance positions remain
unfilled due to record low unemployment, according to a poll released by
Deloitte Touche Tohmatsu today.

Resources, the specialist financial contracting unit of the global
consulting firm, examines trends in the industry sectors of utilities,
banking and finance, IT/telecommunications and venture capital, focusing on
recruitment strategies.

During late November, Australian companies in Sydney, Melbourne and Brisbane
took part in a phone poll which asked how the low unemployment rate was
affecting recruitment strategies.

Eight percent of the companies surveyed in the banking/finance sectors said
they were not filling positions, compared to 20 percent in the IT & T
industries, confirming the chronic shortage of professionals in these

The survey further revealed a lack of staff with full and appropriate
qualifications, leading technology companies to employ a variety of methods
to fill the vacant roles.

“The general acceptance is that it is very hard to find the right staff has
led to a change in strategy by smart organizations and a move to lateral
thinking such as recruiting from overseas or hiring contractors,” said
Resources’ managing director Rob Woolley.

Woolley said every IT & T company polled by Resources has experienced
problems in filling positions. The low Australian dollar was also found to
have affected the industry with some companies experiencing staff losses
after being lured overseas by higher salaries.

At the same time, 40 percent of firms polled said they had tried to
compensate for the tight Australian job market by recruiting staff from

According to the survey, there has been a continuing trend towards the use
of contractors in short-term or strategic roles as a way of managing the
shortage of ‘good people’ looking for permanent roles.

“It is interesting to note that start-up companies are looking towards
contractors as a way of accessing (and being able to afford) experienced
professionals to get the strategic advice they need to grow their
businesses,” Woolley said.

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