On the 27th of February, The Workplace Gender Equality Agency (WGEA) released data on gender pay gaps (publicly available here) which was collated based on the findings of 5,000 individual private sector employers with 100 or more employees, and the evidence is compelling and unequivocal.
While the publication of gender pay data represents a critical milestone for gender equality in Australia, the subsequent actions, particularly within the recruitment industry, hold greater significance. To understand these implications, we consulted with several leaders in our community for their insights.
- Topic:
- Recruitment
Understanding the impact of the Covid years of 2020 and 2021 will become clearer as time passes. But it seems Staffing and Recruitment in Australia has emerged as a stronger and more sophisticated industry.
Certainly, the industry has grown. Not only have many individual recruitment agencies recorded best-ever revenues and profits, SIA estimate the Australian industry size in 2021 to be US$28.5B*, the sixth largest globally. Importantly, the local industry is well on the way to rebuilding substantial locally owned companies after the numerous international acquisitions of the past decade. For a while, it seemed Australia would become a branch office for international companies.
So what else has changed and how is the recruitment industry better for it?
- Topic:
- Recruitment
Effective managers in any business rely on a range of reports to help them make informed business decisions. In the staffing industry specifically, reports are commonly used to identify trends, track performance, develop forecasts, and drive overall business improvement. In the midst of the global skills shortage and a candidate-tight market, increasing efficiencies and improving performance across all operations is critical for staffing agencies wanting to achieve growth.
Here are five ways your business can turn the data you already have at your fingertips into valuable information through the use of reports in FastTrack360.
- Topic:
- Recruitment
Construction and mining are the third equal largest industries in Australia, according to data from the Reserve Bank. Thanks to a housing shortage and a booming economy, construction is set to keep growing and eventually overtake mining in terms of economic output.
The rapid growth of such a large industry poses unique difficulties for the recruiters who staff it. What do the challenges of construction industry recruitment look like, and what can recruiters do to tackle them head on?
- Topic:
- Recruitment
By now, you should have a clear shortlist of software, having gone through the selection process. This means you’re ready to review pricing and make sure you’re aware of all the various costs involved. Going over budget can lead to dire consequences, both internally and externally, so having a clear, defined budget means the process will be a smooth one.
- Topic:
- Recruitment
Every quality recruitment agency is built on a foundation of people who are good at what they do. If people are the foundation, then systems and software are the framework around which an agency is built. Without quality software and systems, recruitment agencies can function but they can’t reach their full potential.
With that in mind, here are the signs that your software is holding you back.
- Topic:
- Recruitment
As of the last census, there was a total of 18.5 million paid jobs in Australia, with average weekly earnings of $1,207. That means, every week, payroll professionals process roughly $22.3 billion in salary and hourly wages.
It’s a gigantic responsibility that is only going to increase in size and scale as our economy and population continues to grow. All this used to be done using handwritten pay slips and cheques handed out at the end of the week, but in 2018 payroll in the majority of payroll systems were entirely digital.
We’ve come a long way already, but how will payroll change in the future?
- Topic:
- Recruitment
Australian firms are amongst the slowest payers in the world. According to a MarketInvoice study, companies here take an average of 26.4 days to pay outstanding invoices. That’s much later than companies in other countries – for example, Japan (6.5 days early), China (1.9 days late), the USA (7.1 days late), and Mexico (18.6 days late).
Given the current state of play in Australian business with respect to overdue customer payments, there’s been no better time for small businesses to start looking for solutions to improve their cash flow.
- Topic:
- Recruitment
Deciding what type of software solution is right for your business can be as difficult as climbing a mountain. A business that gets it right can expect to experience short and long term productivity benefits at the summit, however, get it wrong and the problems created can easily leave you stuck at base camp.
While it is hard for small businesses in particular to locate affordable software that can deal with the tremendous stresses of recruitment and the complexities of payroll, there are now options like FastTrack360 that offer the best of both worlds – an integrated solution and best-of-breed.
- Topic:
- Recruitment
Managing payroll is one of the most significant tasks all business must undertake, so it’s vital to get it right. There is a lot of debate around whether outsourcing your payroll or doing it internally is better and more cost effective. To make the best decision for your business, you need to have a good understanding of the advantages and disadvantages of each approach, ensuring you use the most effective method at the lowest expense.
As outsourced and internal payroll go head to head, in the end it may be in-house efficiency software that has the best of both worlds and provides the biggest benefits for users.
- Topic:
- Recruitment
