The Australian skills shortage list includes jobs from a wide range of industries that are struggling to find workers. Many industries in the wake of the pandemic are dealing with worker shortages. Overcoming these shortages will take some effort and a long-term approach to meeting the needs of your staff.
What is the Australian skills shortage list?
The skills shortage list is a list of occupations that businesses are struggling to fill either by employing Australian workers or immigrants that are already here on worker visas. Immigrants with sought-after skills can use the skills shortage list to apply for a work-based visa and hopefully gain temporary residency faster than they would on other visas.
Australia has a huge demand for skilled workers, many of whom could not move to Australia during the pandemic. Now that the borders are open and many young Australians are moving overseas, many businesses are struggling to fill certain roles. To plug the gap, businesses will need to become savvier if they want to attract skilled workers.
How to meet workforce targets even during a skills shortage.
Upskill existing staff members
According to Harvard Business Review, employees leave their jobs for three main reasons:
- They don’t like their bosses
- They don’t see opportunities for promotion
- They get offered a better job (with higher pay)
The research also found that when workers leave is significant. Many workers leave jobs when they feel they are no longer keeping up with their peer groups or aren’t where they thought they should be in their careers.
These findings are significant for business owners. Upskilling existing staff members should reduce turnover as staff progress in their careers, earn more, and get to keep up with their peer groups. There are many benefits to upskilling staff rather than hiring from outside the business:
- There’s a shorter learning curve
- You get to retain talent
- There’s a proven cultural fit
- It costs less in the long run
- There’s less down time
While there are some downsides to internal hiring, during a skills shortage, workers often have the upper hand. Retaining good staff by making them feel valued is important to the short-term success of your business.
Offering outside training to help workers improve their skills is another way to retain staff. While this option is more expensive and will take longer, it has long-term benefits for your business. You’ll benefit from having highly skilled workers and gain a reputation as a workplace that invests in its staff. This also can help attract talented and driven workers.
Partner with local education facilities
Many businesses avoid hiring graduates directly out of school to their own and their industries’ detriment. Perhaps you think students are too inexperienced to add any real value to your business. Partnering with a local education provider can provide students with opportunities for on-site learning before they graduate.
Offering internships, work experience, or part-time jobs can benefit your business in the long run. You’ll have a pipeline of students who know your business and are likely to want to work with you full-time after they graduate.
Use contingent workers
Using freelancers, contractors and consultants has long been a way to overcome skills shortages in many industries. Many freelance workers are flexible, adaptable, and able to pick up work at a moment’s notice which makes them great for being able to hit the ground running.
Using contingent workers is a good short-term idea while your business invests in training and hiring long-term permanent workers.
Think creatively about what skills you are missing and how to plug the gaps
Think about whether you are using your existing workforce effectively. While you can’t magic skilled workers out of the air, you may be able to alleviate some of the pain caused by the skills shortage by investing in other areas of your business.
- Consider what parts of the job can be outsourced, albeit temporarily. Outsourcing elements of your business can help free up your skilled staff from the more mundane parts of their job.
- Be adaptable to new recruits or people switching roles. When hiring, consider more aspects of an applicant’s CV than just their degree or qualifications. While some roles will require an exact set of skills, many workers have skills that are transferable to other industries or disciplines. Don’t be too quick to write these workers off.
- Invest in new technology. Investing in digital processes or new equipment can help improve efficiencies, cut down on the amount of time each job or project takes and streamline your processes. You can do more with fewer staff members and maybe even eliminate the need to expand your workforce.
If your business is looking to upgrade your equipment, invest in new software, or purchase new machinery we can help. There are no restrictions on the age of the assets or equipment you require. Talk to us today about securing your loan.
