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

Media Release

 

WHILE HIRING REMAINS STEADY,
GAP WIDENS BETWEEN SECTORS


Sydney, Australia – 23 June, 2015 – Job opportunities in financial and professional services are supporting employer optimism into the new financial year, while hiring in the resources sector continues to decline, the Q3 2015 Hudson Report: Employment Trends1 has revealed.

The survey of more than 3,500 employers nationally found that net hiring intentions fell by 2 percentage points (pp) since last quarter to 15.1%. The dip was driven largely by weakness in resources and mining, which fell to a net figure of -20.5%, 9.4 percentage points lower than last quarter. However, sentiment is strong in professional services, where net hiring intentions have climbed to 32.6% as well as industries such as IT (28.5%) and financial services (19.9%).

“The Hudson Report continues to point to changing dynamics in the hiring intentions of employers, with positive conditions in financial professional services counterbalancing weaker conditions across sectors such as resources and mining,” said Dean Davidson, Executive General Manager, Hudson Australia.

The Hudson Report found that 1 in 4 employers are planning to increase hiring in the quarter ahead and only 1 in 10 plan to reduce permanent staff numbers. Despite the slight softening, the net effect of 15.1% for Q3 2015 is almost 6 percentage points higher than the same time last year.

Queensland and NSW on top

According to The Hudson Report, all states continue to report positive hiring intentions into the new financial year. Employers in Queensland are leading hiring intentions, with a net 19.5% of hiring managers looking to increase permanent headcount in Q3, up 7.3pp compared to the previous quarter. Hiring intentions in New South Wales, the nation’s traditional professional services hub, remain strong at net 18.3%.

“New South Wales’ job market is benefitting from strength in the professional services sector. Permanent recruitment is strong right across professional services and improving within financial institutions. The technology sector is also very buoyant, with employer demand for ICT skills remaining strong,” said Mr Davidson.

“In Queensland, professional services are also underpinning the jobs market. Human Resources professionals are in particularly strong demand as businesses look for professionals to support strategic growth and future capabilities.”

A focus on new skillsets

Mr Davidson said the results reflected the ongoing transformation of the jobs market particularly within financial and professional services, while those professions more exposed to mining, resources and trade continue to face challenges.

According to Hudson, employers are focused on developing roles that will support future business growth.

“The ongoing transition in our labour markets is intensifying and organisations are evolving and recalibrating in order to remain competitive. Part of this transition includes investing in new skillsets, to ensure businesses are equipped for future growth. Smart employers should be investing in opportunities for key employees to develop a broad range of skills,” Mr Davidson said.

The Hudson Report also found that the rebound in the contractor market which began late last year will continue into the next quarter, with a net 11.7% of employers looking to hire contractors in Q3. According to Hudson, this is a result of both supply and demand factors.

“On one hand, many organisations are undergoing restructures and transformations, so they need specific skills for project-based work. On the other hand, highly-skilled workers are aware that they are in demand and are looking for challenging roles that also provide flexibility. This is contributing to a healthy market for contractors, while permanent hiring is also robust,” Mr Davidson said.


1 Hudson surveyed 3,511 Australian employers about their hiring intentions for July to September 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+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.