Competition for Talent will stay Fierce
Date: 05-02-2008
Source: Australian Financial Review
CHuman resources consultants and recruiters agree that the economic crisis in the US may have a short term effect on the shortage of talent in Australia but the impact will be mild and restricted to the offices of global operations.
Jeff Schwartz from Deloitte Consulting says that there will be no relief from an economic slowdown because of the gap between people available to work and positions available. Schwartz says recruitment is still the number one worry of chief executives.
CommSec chief economist Craig James says that the Australian economy is well insulated from US trouble, thanks to the mining sector and relatios with China. US-based Goldman Sachs JBWere and Citigroup announced global job losses affecting Australian operations, but Mr James says he expects unemployment levels to tighten, reaching between 3.5 percent and 4 percent this year. Financial companies such as Allco Finance Group would be the most likely to be affected by an employee shortage.
Recruitment firm Kelly Services says they have not noted any change in the hiring intention of their clients, and that Australian-listed companies had only fallen with the market.
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