Hiring trends in Australia
Overall, the recruitment market lacked real dynamism, however, the resurgence in hiring across the banking and IT sectors meant that 2016 saw higher levels of activity. In general, opportunities were greatest for those with very specialist skills, particularly in digital technologies, but salaries remained broadly flat for most professionals. As a consequence, many specialists are likely to consider moving roles for better career development or more flexible working options.
While the unemployment rate remained steady at over 6%, the continuing decline of the commodities sector and wider fears about the economy dented confidence across almost all sectors throughout the year. Naturally, the market remained less active in Western Australia and Queensland, the areas hardest hit by the decline of the mining industry, although we did see a steadily building investment in transport, utilities and urban development. There was optimism in some areas, particularly in New South Wales and Victoria as the year progressed: hiring across banking and financial services moved in a positive direction and we saw a growth in IT appointments across all sectors in almost every region.
We expect hiring in the banking industry to continue on a positive trajectory in 2017, with risk and compliance specialists experiencing increased demand for their skills. Companies will also seek to hire commercially aware accountants with strong technical skills who can advise on financial issues at a senior level. We also anticipate high levels of demand among large corporates for IT professionals experienced in cloud security and big data, reflecting the increasing use of mobile technology in all sectors.