2018 salary trends in Australia | Sky Business News

2018 salary trends in Australia | Sky Business News

COMPERE: Well, to the economic calendar now,
and wage growth continues to remain low, with only a small portion of the workforce to experience
any significant uptick in their take-home pay this year. According to the Robert Walters
Salary Survey for 2018, technology and infrastructure industries will be the two major drivers for
jobs growth this year. For more on the report and jobs and wages growth, Andrew Hanson,
managing director of New South Wales Robert Walters joins us live from our Sydney CBD
studio. Great to have you on board with us today,
and thank you so much for joining us, Andrew. Just tell us a bit more. We mentioned those
two key sectors there outlined in your survey: technology and infrastructure. Why these sectors
in particular? Why are they expected to experience pretty solid jobs growth this year?
ANDREW HANSON: Well, I guess it’s about supply and demand, and when you look at the infrastructure
investment from the state and federal governments across Australia, that’s driving significant
growth in jobs, and as such that’s where we’re expecting to see the growth. In technology,
developing technologies, data, data science, analytics, UX, UI developers, all of these
areas, it’s all about the fact that there’s significant growth in jobs, and in many of
them we just don’t see the people to fill them. So if you look at infrastructure in
particular, we’ve got a significant dearth of people in civil engineering, project management,
director-type roles, and it’s really a battle of the states to try and attract this talent
for those particular areas. So that’s why we’re seeing the biggest growth in those areas.
COMPERE: So we speak about the biggest jobs growth. What about being wages winners as
well? Because obviously the weak wages story is something that the economy is battling
with at the moment. Are they likely to be the wage winners? Because I note last year
speciality technology roles really were the wage winners. Is that expected to continue
again this year? ANDREW HANSON: Yes, I think it is, and I think
that’s going to be a story that’s going to continue for some time. So, yeah, I think
with regards to wage growth in that particular area, if you look at other areas from the
ABS, you’re looking at areas like- if you look at healthcare and medical, which is one
of the biggest employers across Australia, unfortunately the wage growth hasn’t quite
been there, but we do see a significant growth in jobs in those areas as well. If you look
at the ageing population and you look at the increasing investment in mental health services,
then we expect to see – whilst there’s a fair supply of people at the moment – those areas
are going to continue growing significantly. But going back to technology and specialist
technology, that’s where we definitely see wage winners, and in infrastructure as well.
COMPERE: So overall, you think that we can be a little bit more optimistic from both
an employee and an employer point of view that we’ll start to see wage growth improving
this year? ANDREW HANSON: I think so, yeah. I think it’s
what we all want. It’s a sentiment that I’d say cautious optimism across the people that
we’re speaking to out in the market. I’d say cautious optimism in a number of industries
that, as a specialist professional recruiter, we’re focusing on. So yeah, I think it’s from
a low base, and I think it is going to take some time to shift, but we are cautiously
optimistic about opportunities for both employers and employees over the course of this year.
COMPERE: And is that the largest factor that really retains talent? Is it all about wages
and bonuses here? Is that what you see from jobseekers, that they look for when switching
jobs? ANDREW HANSON: Interestingly enough, in a
recent survey that we conducted, over 70 per cent of people are saying that it’s not just
about money. It’s a big driver, but it’s other factors that people are looking at these days
when they’re looking to switch jobs. Of course they want the best salary that they can get,
but employers would be well-advised to make sure they’re focusing on things like cultural
fit and cultural factors, on flexibility in the workplace, and this is what people are
really focusing on: to enjoy their jobs, to be engaged, to enjoy going to work on a daily
basis. So money’s important, but I would say that cultural fit and flexibility and these
types of factors are as important, if not more important for employers to be getting
right to both attract and retain talent. COMPERE: Now Andrew, when we look at the banking
and financial services industry, of course we have the Royal Commission that’s underway
into the broader industry. What kind of demand do you think that’s going to bring across
the industry? What’s your forecasts in terms of jobs growth in that area?
ANDREW HANSON: Sure. Well, that’s an area of recruitment that we’re particularly strong
in, and so since it’s been announced we’ve been speaking to people on a daily basis about
the impact, the jobs that will be created and rolling through, and whilst, certainly
from a commission bill there’s going to be lots of jobs created very quickly in that,
because it’s a very short space of time in which they’ve got to complete it, but I think
what we’re going to see is within financial services organisations we’re going to be seeing
a lot of readiness in build to look at operational risk, to look at government relations, we’re
going to see lawyers. There’s definitely going to be creation of jobs, and certainly shifting
of talent internally. I think a lot of firms will be looking to use what talent they have
within their compliance and risk departments, but in almost building taskforce and project-based
people to be able to both look at their current setups and also to ready themselves for the
findings of the Royal Commission that are going to come in a year.
COMPERE: Just finally, do you see a shift in focus, perhaps, from employers? I mean,
we talk a lot about jobseekers and the kind of jobs that they are looking for. What about
from employers? Do you get the feeling that they are becoming a bit more risk-averse and
cost-conscious? ANDREW HANSON: Not necessarily. I’d say that
business confidence is reasonably high at the moment. Industry to industry obviously
it differs. Yes, cost-conscious for sure and certain. I mean, post-GFC, you look at the
way businesses operate now to the way they did before and there’s absolutely no doubt
that there’s always a focus on cost in businesses. But businesses are also finding that they
need the best talent to be able to grow and to win market share. So we see businesses
really looking to come out to market to secure the best talent, and where they need to they
will pay for that talent, which is going back to specialist roles and to wage growth, where
people that are in those particular roles will be able to pick up the upside.
COMPERE: Alright, fantastic. Andrew Hanson, we’ll leave it there. It’s been a pleasure
having you on. We do appreciate your time on the program today. Thank you so much.
ANDREW HANSON: Wonderful. Thanks for having me.
COMPERE: That was Andrew Hanson there from Robert Walters New South Wales joining us. – End –

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