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When was the last time you considered someone in the 50+ age group for a position in your company? There have been countless reports, research studies and statistics that indicate a huge demographic shift is taking place in the workforce. Since the 1960s, there has been a decline of births that will create a shortage of younger candidates entering the labour market.
With the cost of turnover being 25%+ of an annual salary...what are companies doing to retain staff in 2022? From outsourcing overseas, to offering exponential pay rises to retain staff; Australian businesses are feeling the brunt of turnover in a big way - with predictions that the candidate’s market isn’t expected to swing the other way anytime soon.
Here in Australia, we are facing the Great Poach! The unprecedented mix of stunted immigration, lockdowns, and other restrictive measures has created a supply and demand issue in favour of the worker. Employed or not, if the candidate has the necessary skills, they are being targeted by employers to fill their own talent gaps.