Talking Talent

With an economy in its 17th year of uninterrupted growth, Australia’s skills shortage has never been worse. People are crying out for doctors and nurses, bricklayers and plumbers, code cutters and engineers . In states that are booming thanks to a mining bonanza - Western Australia, Queensland and South Australia - engineers, surveyors and truck drivers are in short supply.  The Economist has reported that one state-owned water authority complains that it is losing truckers to mining companies offering A$100,000 a year - more than double their previous salary.

While the war for talent wages, Australian companies are fighting back to help employees find a better work/life balance.  Across the spectrum of Australia’s economy, Australian enterprises are focusing their attention on reviewing and enhancing their entire employee value proposition, rather than pumping extra funds into salary increases.

In a tight labour market ‘soft benefits’ such as wellness programs, rewards and recognition, child care and parental leave options can be the difference between keeping and losing an employee.

Parental leave policies, in particular, have once again been under the spotlight for review – particularly the number of weeks of paid leave, staggered parental leave payments, return to work policies and child care assistance schemes.

Many companies pay a ‘baby bonus’ for women on maternity leave, and provide more options as they transition back into the work force.

Global technology services company, EDS, offers its employees twelve weeks’ paid maternity leave as well as flexible work arrangements which help retain their top talent.  Flexible work arrangements include returning from maternity leave on a part-time basis wherever possible and flexible hours to suit family life.

Employee wellness programs have also gained in popularity as an alternative to greater levels of salary spending. Wellness programs often include the provision of onsite health and fitness programs, yoga classes, bowls filled with fruit, onsite health checks and health education seminars.  Wellness programs also make good business sense, healthier employees are more productive employees.

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