Market Update: May/June 2023

Permanent Recruitment

Over the past quarter, we have started to see the expected softening within the recruitment market. This was expected after a significant surge in hiring across all industries during the 2022/23 fiscal year.

As we enter the new financial year, clients remain positive overall despite ongoing uncertainty in global and Australian markets.

We are finding a stable demand for permanent and fixed-term contracts in the business support sector. Clients anticipate a gradual return to pre-pandemic hiring levels and consistency as we move through the 2023/24 fiscal year.

Temporary Recruitment

As mentioned in my previous market update, contingent recruitment needs continues to rise as clients carefully evaluate headcount and workload to manage risk and budget allocation without affecting employees and profit.

We anticipate a surge in new working holiday makers arriving after the summer in the northern hemisphere, following the typical pattern of the spring season.

Candidates

Candidates are continuing to be primarily motivated by salary and flexibility. However, due to economic concerns, they are increasingly prioritising stability and security when considering potential employers. High-quality candidates actively seek out insights into an organisation's performance and strategy to gain confidence when transitioning into new roles.

Flexible Work

As consistently reported in the media, there is a growing expectation for employees to return to the office to foster collaboration. This shift is not limited to large corporations but is also becoming prevalent among many of our small and medium-sized enterprise (SME) clients.

We are seeing a significant number of clients mandating a set 3-4 days of in-office attendance.

This market update was compiled and sent by Felicity Barlow, Director on 1 July 2023. If you are interested in receiving future market updates, register here: