Australian businesses looking to ramp up recruitment efforts
In light of recovering business confidence nationwide, businesses in Australia have indicated they are ready to enter the recruitment market once again, a new report reveals.
Dun & Bradstreet's latest 'Business Expectations Survey' found that almost a quarter (22 per cent) of companies in Australia are planning to hire new employees in Q2 2014. This is almost twice the proportion of businesses (12 per cent) that reported an intention to reduce their staff numbers in the quarter ahead.
As a result, the employment expectations index of the survey rose to 9.2 points – an increase of 0.1 points from the previous year – to reach its highest level since the first quarter of 2011.
Gareth Jones, CEO of Dun & Bradstreet Australia and New Zealand, explained that this rise in recruitment intentions is an indicator that businesses are expecting a busy year ahead.
“After seeing a steady pick-up in the outlook for sales, selling prices and profits from late last year, we're now seeing employment intentions improve,” he said.
“Last year's soft conditions forced businesses to manage their costs closely and become more efficient in their operations. With confidence returning, interest rates remaining low and global conditions recovering, businesses now appear ready to focus on growth.”
Dun & Bradstreet cited figures from the Australian Bureau of Statistics (ABS) to further highlight the expanding job market in Australia. According to the ABS, around 47,300 new jobs were added to the economy in February this year.
If you feel your business can benefit from a fresh recruitment drive to stay ahead of the competition, you must ensure you make the right hiring decisions. Making hasty choices in an effort to fill empty roles at your organisation can be costly in the long-run, if you discover a candidate isn't the right fit and simply has to be replaced.
A recruitment and selection consultancy can help you make a thorough assessment of your candidates and select the most suitable ones for your organisation.