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The survey found that 70% of Australian executives believe better talent acquisition strategies could boost their organizations' profitability, highlighting a missed opportunity for improved financial performance.
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Key findings from the report emphasise that, while there are currently 1.1 million workers in Australia with skills similar to those required for tech roles, the country is still experiencing a shortage of talent with specialised expertise.
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Despite the increase in the unemployment rate, the employment-to-population ratio also rose by 0.1 percentage points to 64.3%, indicating that job growth is outpacing population growth.
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In discussing Accenture's investment in employee development, Raheem Shaik shared, “We have invested $1.1 billion in learning and professional growth, providing around 44 million hours of training. Our team holds over 370,000 credentials in cloud technologies and industry platforms.”
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Sanjay Sanghvi suggests that HR information systems (HRIS) like Workday or BambooHR can effectively track voluntary turnover rates, average employee tenure, and exit interview data. Analyzing retention rates across various departments, demographics, and locations helps assess the effectiveness of the EVP throughout the organization.
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Compared to the previous year, job openings fell sharply by 17.1%, resulting in a seasonally adjusted total of 329,900—the lowest level since August 2021.
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Jacqui Marker, Amazon Australia’s HR Director, highlighted that "Comprehensive on-the-job training will be provided, with no prior experience or formal qualifications needed."
