A New Study Suggests: Australia Will Hire Highly Skilled Workers Pay High Salary

27 Oct 2015

As per the new study, in Australia, highly skilled workers are well paid when compared to other nations due to wage pressure especially in engineering and technology.

We find overseas workers in these industries often flock to Australia where there professional experience is essential and getting a visa can be relatively straightforward in sectors having skill shortages. Indeed, the report does suggest that immigration is essential to attract talent across the world inorder to fill the gaps.

Wages in Australia high skill industries, are growing much quicker than those in low-skill industries added Nick Deligiannis MD of recruiters Hays, which offered latest global skills index.

This demonstrates that, the industry specific skill shortages in engineering as well as technology. The employers in such high skill industries are starting to use salary as part of their strategy to compete for top talent.

The index offers a score for each country between 0 and ten which measures the pressures present in its labour market.

 The score calculated by analysis of seven equally weighted indicators, such as covering different dynamics of the labour market that includes education levels, labour market flexibility and wage pressures.

An overall score of above five indicators states that, labour market is tighter than normal. A score below five states that market is looser than normal. Australia has received a high score of eight for wage pressure in high-skill  industries and 6.6 overall wage pressure. But the nation got just 4.5 labour market flexibility and 4.2 for talent mismatch.

The world is returning to growth mode. However, it has been exposed to huge challenges facing global labour markets with demand for skilled workers outpacing supply, even though numerous nations still suffer from high overall unemployment rates.

Business and Govt should act to address these issues or risk jeopardizing the future economic growth education and training schemes which require to be better aligned and also tailored to produce sufficient levels of the skilled resources businesses need. However, this would take time to deliver results. In the meantime, regulatory and immigration reform is essential for short term route to enable businesses to access world-class talent from outside their domestic market. Otherwise, valuable jobs would continue to go unfilled.

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