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Contact:
Kate Miller
Honner Media
+61 2 8248 3753
kate@honnermedia.com.au

Media Release

 

Q1 2015 HIRING INTENTIONS JUMP TO HIGHEST LEVEL IN ALMOST 3 YEARS

Employers optimistic into the new year as The Hudson Report reveals largest quarterly rise in five years

Sydney, Australia – 9 December, 2014 – This quarter’s Hudson Report: Employment Trends points to a strong outlook for the jobs market for 2015, with employer intentions to hire reaching their highest level since Q2 2012. The surge of confidence is reflective of the structural transformation underway in the Australian workforce, and the subsequent skillset changes that are necessary to compete in a post-GFC world.

According to Hudson, net hiring intentions for Q1 2015 recorded their largest quarterly rise since Q1 2010, with a net 18.7% of employers looking to increase permanent staffing levels in the first three months of the year, up 5.6 percentage points (pp) on last quarter.

“Despite lukewarm economic conditions and recently released weak GDP figures, Australian employers are optimistic about the year ahead. While the outlook is buoyant, the thirst for talent is centered on specific sectors and role families that support business transformation. These often newly created roles are critical to future success and profitability and as such may be less impacted by broader economic trends in the months ahead,” said Dean Davidson, Executive General Manager, Hudson Australia.

Transformation in QLD and NSW drive national momentum

The strong Queensland result is heavily influenced by the public sector. With a government in pre-election mode, there is a considered push to deliver upon the current transformation programs of work and front-line projects. A net 20.4% of employers in Queensland are looking to increase headcount, an uplift of 1.9pp.

“The public sector continues to drive permanent and contracting growth as government look to bring in talent with the relevant skills and experience from the commercial sector,” said Mr Davidson.

NSW has also seen a wave of confidence with a net 19.4% of employers planning to hire early next year, an increase 9.4pp, largely driven by change and transformation in the financial services sector. According to the report, a net 36.9% of hiring managers plan to increase their financial services headcount in Q1 2015, surging 16.8pp for the quarter.

“Financial services teams have recognised that the landscape has permanently changed and are driving significant transformation projects. Those professionals with exposure to agile environments are highly sought after as are compliance and risk professionals who can help organisations navigate the plethora of regulatory change on the horizon.”

The legal profession has been a dominant force in NSW as well as nationally with a net of 36.9% of hiring managers looking to increase headcount in Q1 2015. There is strong demand for mid-level lawyers in private practice with organisations backfilling roles that were deliberately left unfilled from past years.

ACT shrugs off budget uncertainty

Employers in the ACT have a renewed sense of confidence with net permanent hiring intentions surging 19.2pp to 14.5%.

“The uncertainty created by the mid-year federal budget fuelled weak hiring intentions in the nation’s capital earlier this year. However the delay in implementation has seen employers shrug off the negativity, with growth coming through, not just in government, but also the ACT’s commercial market,” said Mr Davidson.

ICT drives contract growth

A net 14% of employers are intending to increase their contracting/temporary workforce in Q1 2015, up 3.2pp on Q4 2014 and 9.4pp compared to one year ago. The ICT profession is leading contracting hiring intentions significantly, with a net 23.7% of businesses looking to hire in Q1 2015.

“ICT is fast becoming the dominant force behind the contracting market in Australia. We have seen demand for strong project managers increase over the past 18 months as large transformation projects have reached implementation stage, and we don’t see this changing in the New Year,” Mr Davidson said.

“Businesses are investing in personnel who can really support them to deliver key projects and ICT is becoming an increasingly important component of business growth.”

Employers seeking real contributions to business growth

According to Mr Davidson, one key theme emerging across Australia is an increasing demand for employees who will have a real impact on businesses’ bottom lines.

“We are seeing less demand for reporting and transactional roles and a shift towards roles that underpin future growth opportunities. The business environment remains challenging for most sectors and so businesses are focused on creating positions - and seeking out employees - that are really going to add tangible value.”


1 Hudson surveyed 3,432 Australian employers about their hiring intentions for January to March 2015.

-ENDS-

For a full copy of the report, print-ready graphs or to arrange an interview, please contact:

Kate Miller
Honner Media
+61 2 8248 3753
kate@honnermedia.com.au

About the Hudson Report methodology

The Hudson Report frequently refers to the term ‘net sentiment’. The net effect figure is calculated by taking the percentage of employers surveyed that expect to increase permanent staff levels, or their contracting/temporary workforce, during the forthcoming three months and subtracting the percentage of employers surveyed that expect to decrease staff levels.

About Hudson

Hudson is a global talent solutions company with expertise in leadership and specialized recruitment, recruitment process outsourcing, talent management and contracting solutions. We help our clients and candidates succeed by leveraging our expertise, deep industry and market knowledge, and proprietary assessment tools and techniques. Through relationships with millions of specialized professionals in 22 countries, we bring an unparalleled ability to match talent with opportunities by assessing, recruiting, developing and engaging the best and brightest people for our clients. We combine broad geographic presence, world-class talent solutions and a tailored, consultative approach to help businesses and professionals achieve higher performance and outstanding results. More information is available at Hudson.com.

Forward-Looking Statements

This press release contains statements that the company believes to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this press release, including statements regarding the company's future financial condition, results of operations, business operations and business prospects, are forward-looking statements. Words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “predict,” “believe” and similar words, expressions and variations of these words and expressions are intended to identify forward-looking statements. All forward-looking statements are subject to important factors, risks, uncertainties and assumptions, including industry and economic conditions' that could cause actual results to differ materially from those described in the forward-looking statements. Such factors, risks, uncertainties and assumptions include, but are not limited to, global economic fluctuations; risks related to fluctuations in the company's operating results from quarter to quarter; the ability of clients to terminate their relationship with the company at any time; competition in the company's markets; risks associated with the company's investment strategy; risks related to international operations, including foreign currency fluctuations; the company's ability to implement cost reduction initiatives effectively, including the recently announced restructuring program; the company's dependence on key management personnel; the company's ability to attract and retain highly skilled professionals; risks in collecting the company's accounts receivable; the negative cash flows and operating losses that the company has experienced from time to time in the past may reoccur in the future; restrictions on the company's operating flexibility due to the terms of its credit facilities; the company's heavy reliance on information systems and the impact of potentially losing or failing to develop technology; risks related to our dependence on uninterrupted service to clients; the company's exposure to employment-related claims from both clients and employers and limits on related insurance coverage; volatility of the company's stock price; the impact of government regulations; and restrictions imposed by blocking arrangements. Additional information concerning these and other factors is contained in the company's filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date of this document. The company assumes no obligation, and expressly disclaims any obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise.

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Hudson is a global talent solutions company. We help transform the workplace and unleash the full potential of organizations and individuals. Our expert team and proprietary tools provide you with unique insights and services that help you maximize your success. Across 20 countries, we deliver a range of recruitment, talent management and recruitment process outsourcing solutions to get you and your business where you want to be.