Q1 Insights 2024 | Growing Team & New Events!
Hello!
We hope you've had a great start to 2024; it feels like we (and Australia!) are back into the swing of things after the festive season break!
Whilst our newsletter hasn’t been published in a while, we’ve been working behind the scenes, ramping up our recruitment efforts and our industry engagements this first quarter. Safe to say, there is a lot to update you on!
Everything from market trends, ?Levyl’s upcoming events, resources for our P&C community and some exciting milestones! ??
?? Don’t forget to scroll down to the bottom of this newsletter to see Levyl’s latest job opportunities.?
Speaking of things ramping up, we’re in preparation mode for our first event of 2024, called AI Pulse, featuring Head of Automation at the Missing Link, Matt Dunn. These AI in HR events were so popular last year that we have decided to bring them back in 2024, with a series of four events catering to the financial services, healthcare, professional services and education industries coming your way. ?
If you’re interested in attending these events, reach out to Sarah at [email protected] or check out the events on our website here?
NATIONAL INSIGHTS ???
?? Unemployment rate rises above 4% in January 2024??
Reportedly, a part of these unemployed respondents were starting new jobs within four weeks of when the survey was conducted. ?
?? Hours worked declined by 2.5% in January 2024?
This decline can be attributed to fewer people working in late December to January when majority of Australians took their annual leave. ?
Three-quarters of this decline occurred in NSW and Victoria, particularly in the tech sector, food preparation and personal care. ?
?? National job ads decreased by 18.6% when comparing February 2024 to February 2023?
Despite a decline in job ads, the figures are still 37.8% higher than pre-COVID levels in February. ?
?? Applications per job ad month-on-month increased by 2.9% in February 2024?
A looming period of economic downturn, restructuring, inflation rates and cost-conscious employers are more cautious in hiring. Now the pool of job seekers has increased. ?
P&C JOBS UPDATE ??
After a slower than expected start to 2024, the HR jobs market is starting to turn a corner with green shoots emerging in certain pockets.
However whilst market conditions remain unpredictable, so will the jobs available. We suspect most movement will transpire in the mid-level HR market with true generalist skills in the forefront of demand.
Unfortunately, due to the cost conscious and cautious economic environment, certain verticals of People & Culture have found themselves exposed and more open to scrutiny than others. We have seen significant layoffs transpire across Talent Acquisition and Learning Development as organisations show their cards on what they value as a part of their P&C team make up.
Executive movement has flat-lined, however we anticipate as conditions improve as the year goes on, CPO's will start popping off the merry-go round, taking Heads Of and teams with them. This will trigger a more normal turn speed for the jobs market.
Until the end of 2024, we do expect the job market for P&C to be somewhat lumpy and unstable.
FOR OUR CANDIDATES ???
In February we released our 2024 Market Insights and Salary Guide. This guide provides you with an overview of the market, salary data ranging from Payroll Officers up to Chief People Officers, and our predicted trends to look out for in 2024.??
Whilst searching for roles in what we would call a?dynamic job market, we recommend keeping informed and using recruitment experts as a sound board in your job search journey. For confidential conversations reach out to our recruitment consultants on LinkedIn or contact the team at [email protected].
FOR OUR CLIENTS ?????????
As a People and Culture leader, staying up to date on emerging technologies like AI and Automation sounds great, but how many articles and podcasts can you immerse yourself in before your specific questions are answered???
The good news is, we might have those answers for you! As mentioned above, Levyl has teamed up with AI expert, Matt Dunn, for a series of four, lunch-and-learn roundtables taking place this March, April, May and June. We are fortunate to bring these experiences to our P&C community to aid you on your AI and automation journey. ?
Catered for the financial services, healthcare, professional services and education sectors, you will gain practical strategies, insights on what other organisations are doing and a live P&C market update.
To learn more about these events please click here: https://www.levyl.com.au/events?
WHAT’S TRENDING? ????
No hiding from gender equity???
On the 27th of February the Workplace Gender Equality Agency released their Employer Gender Pay Gaps report. The purpose of the report is to hold nearly 5000 Australian private sector employers, with 100 or more employees, accountable for their median gender pay gaps in base salary, total remuneration, as well as workforce composition.??
The results show that:?
领英推荐
Our opinion is that job seekers may be aligning themselves with organisations within that –5% and +5% range. ?
We also celebrated International Women’s Day on the 8th of March. This year’s theme was Count Her In: Invest in Women. Accelerate Progress. ?
We wrote a post on 3 ways in which companies are taking affirmative action.
Job cuts continue??
With the implementation of AI and as wages and inflationary costs rise, businesses are continuing to reduce cost centres by committing to hiring freezes, automating their business to reengineer back-office operations, offshoring work to countries like India and the Philippines, as well as making employees redundant.??
We continue to see restructuring and redundancies occurring in market, with cuts in February occurring across:?
Out of fear of job security, we are seeing employees that are wanting to leave their current jobs, stay. They fear the “last in, first out” philosophy associated with moving companies. As a consequence, these employees stay in their role but are disengaged with the work that they are doing, leading to lower productivity rates and lower engagement. This is a tough climate for People & Culture leaders to navigate and also slows down the job market.??
Senior Opportunities?
We have seen a healthy pipeline of senior People & Culture opportunities enter the market over the first quarter of this year, which is a contrast to the most part of 2023.?
Senior leaders (Heads Of and General Managers) have decided it is time for a new challenge, particularly after guiding their businesses through the pandemic and wanting to take that next step. With that said, we have observed that when those senior roles come to market, they are competitive by way of the number of applicants and an oversupply of candidates versus opportunities at this level.??The CPO market has flatlined however we do anticipate this may change towards the back-end of 2024.
MILESTONES???
February was earmarked by two new starters in our team and a move into a bigger office!??
Firstly, Samantha Hardiman has gone full-time with Levyl as a Marketing & Strategy Advisor.??
Sam will be managing full cycle marketing and social media for Levyl, whilst actively building relationships with our network.??
To learn more about Sam click here
Secondly, Emilia Rodriguez joins Levyl as a Senior Consultant.??
Emilia worked for Gartner in the United States recruiting across the corporate HR portfolio. Her breadth of experience encompasses in house and agency recruitment for the past nine years.??
To learn more about Emilia, click here
We still have two spare desks for recruitment consultants, so if you are interested in joining our team then submit your CV to [email protected]?
Finally, we celebrated Sam’s birthday! What a great excuse to start a Monday off with sweet treats ??.??
PLACEMENT OF THE MONTH ??
We are proud to showcase Calli Farber as our highlight placement for this newsletter! Matt placed Calli as an Employee Relations Lead at Ampol Australia and was stoked to see her settling into the team so well. Congrats Calli!
HOT NEW HR JOBS ?????
Keen to recruit a role through Levyl? Email us [email protected]?
TODAY’S WRAP! ?????
Thank you for taking the time to read our newsletter. Please follow us on LinkedIn to stay connected with what happens at Levyl and the events we are putting together in the coming weeks.??
Of course, if you are interested in changing roles or recruiting a P&C role for your team, please contact us at [email protected] or connect with Levyl’s consultants. We would love to work with you! ???
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