The gap between the skills that employers are looking for and those available in Australia's labour market has expanded for the fifth consecutive year.
That's according to the 2018 Hays Global Skills Index, published in collaboration with Oxford Economics. It shows that while Australia's job market is delivering career-advancing opportunities, the talent required for these roles is changing.
Highly skilled professionals are sought over those who perform routine or repetitive tasks that can be automated. A shrinking labour force further underscores the talent mismatch.
This was particularly noticeable in high-skill industries such as IT, engineering, financial services and professional services.
According to the report, which is calculated through an analysis of equally weighted indicators, this far surpasses talent demand in low-skill industries and for low-skill workers who perform repetitive tasks that can be automated.
Australia's increase to 5.7 on the overall Index – the highest since 2012's peak of 5.9 – also shows increased pressure in the job market. In other words, it's harder to secure the right talent now.
What talent is in greatest demand? According to the latest Hays Jobs Report, demand extends across various industries and sectors. In accountancy and finance, business analysts, finance business partners, finance managers and internal auditors are sought.
The banking sector needs risk and compliance professionals, brokers and qualified financial planners.
Within construction and engineering, project managers, site managers, contract administrators, civil engineers and civil drafters are sought.
HR business partners, HR analysts and organisational change and development professionals are needed in HR departments.
Marketing teams seek digital project managers, content managers, data insight managers and marketing managers.
Executive and personal assistants with a wide skillset are needed too.
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