Happy Monday Community 👋
Our journey around the world will soon be coming to an end. This week, the last two continents of our global voyage will be presented to you. You can find an overview of the posts that have already been published for each continent here.
Let's discover our second to last continent today: 📍Australia!
With over 300 sunny days a year, a fascinating variety of plants and animals, pleasant temperatures above 20 °C and beautiful beaches, you might think that Australia is the perfect paradise to live and work, right? Nevertheless, Australia is a small continent and has a very low population density compared to other continents. In comparison, Europe accounted for around 9.4% of the world's population in mid-2022, Australia roughly 0.6%. - Source
Australia impresses with its fascinating and broad landscapes that amaze every person who sees them. However, these remote locations offer little incentive for companies. The labor market is concentrated in isolated cities - the continent's lively metropolitan cities such as Melbourne, Sydney or Auckland - where the highest population density can be found.
🦾 The battle for talent
Furthermore, immigration also plays a significant role in Australia. A significant proportion of the Australian population is made up of people who have immigrated from different parts of the world. However, the pandemic has had a direct impact on this trend. The travel restrictions and uncertainties during the pandemic significantly affected immigration figures.
👉 As a result, the labor market in the various regions of Australia is facing major challenges.
- The international border closures led to a slower population growth of 0.1% in Australia. Fewer than 36,000 people migrated during the pandemic. - Source
- 360,000 job vacancies were reported in the second quarter of 2022, compared to 288,000 job vacancies in the first quarter - the highest number ever recorded by the Australian Bureau of Statistics, according to the Source.
So how do companies react when the market for skilled workers shrinks and does not recover in the near future? With the skills shortage being seen both in Australia and other regions, recruiting suitable employees is becoming increasingly challenging. HR needs to ask itself what it can do to tackle this!
💡 You can find helpful resources on talent management and recruitment methods in our HR lexicon.
HR-Discussion:
What approaches do you think can HR take to attract and retain talent? Feel free to refer to the challenges of skills shortages.
As always, write your thoughts in the comments! For each of your comments you contribute to a good cause, as we donate €5 per comment to the charity Doctors Without Borders.
Want to explore more continents? 👀 Click here for the HR-Discussions that have already been published!
Have a lovely start to the week,
Melissa
