As a result of the COVID-19 pandemic and the plunge of skilled workers closing the border, the Australian economy suffered a loss of $ 32 billion ($ 22.9 billion) as the workforce of 380,000 declined. New research found.
A collaborative study by RMIT Online and Deloitte Access Economics also points out that the Australian economy could have grown an additional $ 148 billion (US $ 106 billion) without a pandemic.
“The closure of the border has effectively stopped Australia’s migration and exacerbated Australia’s talent shortage,” a study published on February 8 showed.
He also warned that the impact of the Australian border closure was not a temporary obstacle. And if the government takes no action, the economy will be permanently scaled down compared to what it would have been without a pandemic.
“This means that it’s not enough to just go back to the pre-pandemic trend. Instead, we need more strong growth to correct the losses that occurred during the pandemic,” the study said. I am.
A quarter of the employers surveyed believe that border closures are due to one of the major barriers to attracting new staff.
A survey of 413 business leaders and 1,040 workers in mid-sized and large companies in several Australian industries found that more than 50% of Australian employees act to change their current employment. I woke it up.
“It’s no secret that employers across Australia are having a hard time finding talented people with the right skills,” said Helen Souness, CEO of RMIT Online.
“In some industries, such as technology, large companies are raising salaries to attract talent, making it even more difficult to hire small businesses and start-ups. We need to open the border. “
Nonetheless, employers are confident that staff will stay, and one-third of companies predict that 6-10 percent of employees will jump over jobs. Similarly, one in four employers predicts that 11 to 20 percent of workers will change jobs.
Almost three-quarters of employers who participated in the survey struggled to attract new staff, with 27% citing border closure as the most common obstacle.
In addition, companies that want to attract new workers are those who are looking for a dream career (26%) and those who have very high standards of work-life balance (24%). Faced with a serious hurdle caused by.
Meanwhile, research reveals that Australian employers are willing to pay wage premiums to workers with digital skills, and digital skills are becoming more important in all areas of work.
A 2021 classified ad analysis showed that digital skills ranked third among the most sought after skills after core areas such as sales, budget management, and business processes. However, customer service and project management were in the top two.
This study also highlighted the importance of improving skills in the labor market.
“Skill up plays an important role in bridging the skill gap,” said John Omahoney, a partner at Deloitte Access Economics.
“Employers expect to spend more on improving their skills next year, and employees appreciate this investment. Many people say this is a sign that employers want to invest. He states that he is interested in their growth. “