The improving economy and labour market means the annual January employment frenzy will be bigger than usual this year, a recruitment expert has warned.
Rabieh Krayem, chief executive of IPA, says employers planning on ramping up in 2010 should consider moving into the labour market at the start of the year when the candidate pool is at its peak, or risk struggling to fill positions later in the year.
Data from IPA, which fills around 2000 jobs a month, shows that job vacancies hit a 14-month peak in December, increasing 6.5% over the month as compared with 3.4% growth in November. Job vacancies growth was strongest in New South Wales and Queensland.
“We normally get a spike in the December numbers, but we saw a spike above what we’ve seen over the last five year,” Krayem says.
“The key for us if how many of those are temp or casual jobs and are converted into full-time positions, but even in the first week of January, some of those numbers are still holding.”
Krayem says job vacancies were growing across the various sectors of the economy, with financial services re-emerging as a growth area and the resources sector very strong.
Senior business development roles, transactional roles and customers services positions are all in demand. Trades people of any sort are being snapped up once again, particularly for the growing number of resources projects starting in Western Australia and Queensland.
Krayem says January is typically the time when the most candidates are searching for jobs – due mainly to people returning to work after the New Year break determined to shift roles – and employers need to take advantage of this.
“For employers, it’s really about taking that proactive approach now. Look at what your needs are going to be for the year ahead and think about moving into the market. You’ll get a better type of candidate.”
Krayem says he has already seen some instances of small-scale labour hoarding for the year ahead.
“If the company has half a role to fill, they are saying ‘we can actually turn that into a full role for the right person.’”
And while the battle for talent is starting to push salaries higher, Krayem says wage levels remain well below the peak seen in late 2007 and early 2008.
He’s tipping the January jobs frenzy will hit a peak in the third week of the month, when everyone is back at work.
“Any good candidate will pick up a job very easily and the smart employers will be in the marketplace.”
James was the editor and publisher of SmartCompany and LeadingCompany for five years. He is now the Australian Financial Review‘s companies & markets editor, and a former BRW editor.
