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Employers hiring candidates for the spot price of oil

Ref. PR-02126

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In light of the growing need to re-launch internal business projects and declarations by economists that the worst of the downturn is behind us, Australian employers are increasingly optimistic about hiring new staff on a temporary or contract basis.

According to David Jones, Managing Director of Robert Half, Asia Pacific, employers should capitalise on the current opportunity to hire staff at affordable rates before the balance of power shifts once more:

  • “As recently as the first half of 2008, job seekers were well positioned to place financial demands on potential employers and companies were only too willing to oblige. But the power balance has shifted and candidates have had to commit to flexible pay rates.
  • “Candidate pay rates continue to fluctuate, much like the spot price of oil, which means that employers can look to hire or purchase people on their terms.
  • “Candidates, particularly in the areas of change management, process re-engineering, business intelligence and enterprise resource planning that are willing to adjust their wage expectations to match the demands and circumstances of employers, are an attractive proposition. They’re particularly attractive, at these rates, when compared with those candidates who are presented to employers by global and regional consulting firms.
  • “We always keep in regular contact with high-calibre candidates to assess their desired pay rates and compare against market trends because these are constantly changing. These candidates are typically working on projects or assignments that are due for completion and are looking for new opportunities; or they are people who are keen to re-enter the workforce after working abroad or time out due to previous staff cuts.
  • “Based on this feedback, and feedback from employers about what they are willing to pay to fill a particular role, we know what will drive a win for the employer and a win for the job seeker. This means we can offer employers access to candidate skills which, based on the cost associated with previous hiring, they thought would be financially out of reach today.
  • “Recruitment firms have a responsibility to appropriately manage the pay expectations of candidates before they are put forward for an interview. This is an important function of any recruitment firm in a market downturn but not all recruitment consultants are comfortable or capable of effectively doing it.
  • “As with the spot price of oil, candidate rates are likely to rise and fall with shifts in demand. It’s important that consultants are speaking with their clients and candidates at all times to ensure that wages reflect what the market can afford.
  • “Given the skills shortage in the finance sector, we don’t expect employers will hold the balance of power for long. Now is a good opportunity to hire good quality staff, at a very affordable rate.”

-ENDS-

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