- The 2018 Hays Global Skills Index shows Australian job candidates are less likely to have the skills employers want.
- The talent mismatch between the skills job seekers have and those employers want has increased for a fifth year.
- In demand are people to fill jobs in IT, engineering, financial services and professional services.
Employers are finding it harder to hire the right people now than it was a year ago.
Australia’s talent mismatch between the skills job seekers have and those employers want has increased for a fifth year, according to the 2018 Hays Global Skills Index.
The report, published in collaboration with Oxford Economics, shows employers just can’t get the right talent in high-skill industries.
“Demand for highly-skilled professionals and in high-skill industries such as IT, engineering, financial services and professional services now far surpasses demand in low-skill industries and for low-skill workers who perform repetitive tasks that can be automated,” said Nick Deligiannis, Managing Director of Hays in Australia.
“At the same time, the available labour force is shrinking (labour market participation). Given these findings, all professionals must continuously upskill to remain relevant and employable in our increasingly automated world of work.”
Australia increased to 5.7 on the overall Index — up from 5.5 and the highest since a 2012 peak of 5.9 — shows increased pressure in the job market.
The index is calculated through an analysis of a series of indicators, each scored out of 10, with 1 being a low pressure point and 10 being an high.
The lack of candidates has also pushed up wages in high-skill industries.
Australia scored a very high 8.7 on wage pressure in high-skill industries. In occupations, the score was 6.2 for wages, indicating a shortage of highly-skilled professionals.
According to Australian Bureau of Statistics numbers, trend employment increased by 303,100 persons or 2.5% over the last year, well ahead of the average annual growth rate 2% over the past two decades.