Employers and workers doubt their company can attract top talent in 2024 | Robert Half

Employers and workers doubt their company can attract top talent in 2024

89% of Australian employers are concerned about their company’s ability to attract top talent in 2024

71% of workers hold concerns that their company is not able to secure skilled workers this year

With 30%, uncompetitive salaries is cited by workers as the biggest problem their employer has with attracting top talent

The limited career opportunities is a key concern for both employers (30%) and workers (26%)

Sydney, 22 May 2024 – The majority of both Australian employers and employees are concerned about their company’s ability to attract skilled talent this year, as what companies offer fails to meet candidates’ expectations, new independent research by specialised recruiter Robert Half finds.

The research reveals 89% of employers and 71% of employees believe their company may struggle to source skilled employees, and while inadequate salaries tops the reasons for office workers, it is not the most concerning factor for employers.

No progression, no thanks

The perceived reasons for Australian companies’ inability to attract talent this year differs between employers and workers. Almost a third (30%) of employers believe the limited career opportunities their company offers is the top reason behind attraction woes, while workers believe a lack of a competitive salary (30%) is the predominant factor. Both employers and workers rank limited opportunities for career progression and lack of flexibility in their top three reasons.

The more confident in attraction

With 67% of tech workers stating they have concerns about their company’s staff retention policy they are the least concerned compared to their finance and business support counterparts.

Field	% concerned about attraction
Finance and accounting	74%
IT/technology	67%
Business support	73%

Source: Independent survey commissioned by Robert Half among 1,000 Australian workers.

“There is currently a duality in the employment market. On one side the labour market is slightly softening with more candidates available but on the other hand, unemployment rate, though on the rise, continues to hover historically low with a persistent demand for skilled talent. But despite demand, workers would be misguided to think they hold the cards in the current market,” says Nicole Gorton, Director at Robert Half.

“Concerns about drawing in top-notch talent have long been at the crux of employer’s worries, particularly after the most volatile five years in recent employment history. Having high-calibre professionals in a workforce can be the difference between propelling a company forward or just meeting the needs of the business, which is why employers should prioritise their ability to grab the attention of talented professionals.

“Businesses can overcome talent acquisition challenges by developing a strategic action plan. By identifying the root causes of attraction difficulties and crafting a compelling value proposition, leaders can effectively communicate their company's unique offerings to both current employees and prospective talent.

“Honesty and transparency from candidates about their frustrations are invaluable as they offer a golden opportunity for open dialogue and alignment of expectations. Companies who actively address the concerns of workers in relation to salary, work-life harmony and career progression will hold the trump card when it comes to attracting top talent and gaining their loyalty.”

RobertHalf_attraction_May.pdf

Notes to editors

About the research

The study is developed by Robert Half and was conducted online in November, 2023, by an independent research company, surveying 500 hiring managers (including 100 CFOs and 100 CIOs) and 1,000 office workers from companies across Australia. This survey is part of the international workplace survey, a questionnaire about job trends, talent management and trends in the workplace.

About Robert Half

Robert Half is the global, specialised talent solutions provider that helps employers find their next great hire and jobseekers uncover their next opportunity. Robert Half offers both contract and permanent placement services, and is the parent company of Protiviti, a global consulting firm. Robert Half Australia has offices in Brisbane, Melbourne, Mount Waverley, Perth and Sydney. More information on roberthalf.com.au.  