Over the last couple of days SEEK have released the April 2014 update of the SEEK Employment Index.
The overall numbers are positive, with job ads in March increasing 1.1% on a month over month basis and by 2.1% year on year, and since March 2010 jobs ads in NSW and Victoria have grown by 5% and 7% respectively. They are also seeing growth across various industries such as:
However there are some worrisome figures/trends in the SEEK data.
The number of applications for those job declined by 2.1% for the month of March, with the largest drop being in South Australia and Western Australia. SEEK is also warning of a skills mismatch in the future across a number of industries.
In part this is due to a decline in job opportunities in several sectors such as manufacturing and mining.
To combat this SEEK recommends those impacted in these industries begin a re-skilling/education process.
Something for HR practitioners to consider is based on the recent Chandler Macleod white paper on skill utilisation. Organisations might find that employees in these declining industries already have skills that could be helpful to assist in business transformations.
Can HR Technology help?
Yes in several ways.
One way will be to ensure that your workforce planning systems/processes incorporate these sorts of trends into your models. To ensure your plans match the longer term market place changes.
Another way is to look at gaining a deeper understanding of the skill sets held by employees through effective use of a talent management solution.
If your organisation has identified employees without the skills needed for the future state of business ensure your are delivering the right training and re-education. We all know it is often better to retrain than have to go to market and hire new employees.
Finally ensure that your recruitment systems and processes are not placing barriers between hiring managers and applicants. You never want to miss out on a top candidate because your systems or processes made them jump through too many hoops and they gave up applying to your organisation.