Australia is facing a significant shortfall in the number of available crucial business professionals over the coming 12 months, according the latest Clarius Skills Index released earlier this week.

 

The Index tracked persistent shortages for engineering professionals, ICT professionals, accountants, company secretaries and auditors, sales and marketing professionals and legal professionals.

 

 Clarius Group’s CEO, Kym Quick, said the shortages in these sectors threatened to compromise the country’s ability to take full advantage of emerging opportunities in Asia, including China and India, in the short to medium term.

 

“Global markets are showing signs of life which should instil more confidence locally. The view of our colleagues in China is that the powerhouse nation will be significantly stronger mid 2013 and Australia needs to be able to kick up a gear as well,” Ms Quick said.

 

The Index found that growth in labour demand throughout the economy is occurring primarily occurring in higher-skilled occupations. Furthermore, Professionals throughout the Australian economy have a relatively low unemployment rate compared with all occupations with their unemployment rate at 1.8 per cent compared with the national rate of 5.4 per cent1. There is a shortage of 15,300 professionals.

 

Ms Quick characterised 2012 as a ‘roller coaster’ year for business which had struggled to fill positions slated for highly qualified people.

 

“Employers have far greater expectations in terms of what they’re looking for in candidates and they’re prepared to pay for it. High on their agenda is finding and retaining good staff and building far stronger, leaner teams that they can depend on going into the future, whether that be more tough times or good times,” she said.

 

“Against this backdrop, highly qualified people are reluctant to move to an employer they don’t know – particularly as consumer and business sentiment has been low and growth and sales are hard to come by.”

 

The Index also showed:

  • Australia’s most in demand occupation is Corporate Service Managers in ‘Extreme’ demand – Post GFC this role has become increasingly important given post GFC compliance and stakeholder scrutiny
  • Advertising and Sales Managers continues to be in ‘Extreme’ demand as companies focus on their sales teams and bottom line
  • Engineering professionals are also in ‘Extreme’ demand which is set to increase in 2013 as China’s economy comes online again.
  • ICT professionals are also in ‘Extreme’ demand as Australian companies are set to spend $66 billion in ICT in 2013.