By Michael Page
With 2020 now in full swing, all eyes are set on the future as the new decade brings with it renewed energy and opportunities for Australia’s 12.9 million employees.
Despite a predicted slowdown in the economy, the nation’s workers can be optimistic as trends in entrepreneurship, technology and a growing service sector are expected to generate strong job growth. However, changing organisational structures and the fourth industrial revolution will transform jobs as we know it. So what does 2020 hold for Australia’s job market?
Recruitment for talent in these industries set to boom
Although megatrends in data and connectivity are causing disruption and innovation across the nation, traditional service roles are expected to see the biggest growth in 2020. Jobs Outlook reveals two out of every three new jobs created will come from one of four main industries:
- health care and social assistance,
- education and training, and
- professional, scientific and technical services.
With an ageing population, the National Disability Insurance Scheme and growing demand for childcare and home-care based services, health care and social assistance is Australia’s largest and fastest growing industry. The field currently employs over 1.5 million people and is expected to generate tens of thousands of additional jobs in the coming half-decade.
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Meanwhile, investment in national infrastructure and a growing population means continued growth in the construction and property sector. Building and plumbing labourers, engineers, construction managers and casual labourers will be in high demand as more roads, railways and airports are built in the next 5 years. Similarly, Australia’s growing population and high demand for trained professionals means the education sector is set to boom, with strong demand across the board in primary, secondary, adult and community education.
RELATED: Michael Page Salary Benchmark Guide 2020
Despite the fact that service roles are expected to account for the lion’s share of job growth in 2020 and beyond, demand for employees in the professional, scientific and technical services is also predicted to skyrocket. Fuelled by the global tech revolution, demand is growing for skills in computer system design and ICT. Similarly, management, consulting, legal and accounting professions are in high demand as more Australians embrace entrepreneurship and our start-up culture evolves.
However, while job opportunities will continue this year, attracting and winning talent for these roles is a key challenge for businesses across the board.
Employees choosing opportunity over remuneration
The latest Michael Page Australia Salary Benchmark 2020 Report revealed that, while salary is important for employees, it’s far from being the top driving factor when it comes to job satisfaction.
According to the report, 94% of professionals say unsatisfactory monetary benefits were not top of mind when deciding to leave a job. Furthermore, both gen X and millennial employees said they would have stayed in their last company if they were offered more training and development plans, and if employee engagement was strengthened.
These insights shed valuable light into the growing importance of personal and development opportunities, as well as a positive work culture when accepting a new job.
For more hiring and recruitment trends, read the full Michael Page Salary Benchmark Guide 2020 here.