Mid-sized Australian organisations are showing immense resilience during the global economic downturn, with two in five currently looking to grow employee numbers, new research by HR tech leader HiBob finds today.
Nearly half (48%) of these organisations are looking to hire operations professionals, while a quarter (26%) are looking to bolster customer support teams, and a fifth (21%) are looking to hire more people in IT.
The figures are a reflection of the confidence mid-sized businesses currently have when navigating the uncertain economic future ahead, with less than half (46%) saying that since the economic downturn, they’ve had to make cutbacks in investing in people, and less than half again (42%) saying they expect to implement a hiring freeze soon.
These are some of the findings from HiBob’s Growing Pains report, which uncovers the impact of the global economic downturn on HR professionals working in mid-sized organisations (companies employing between 100–2,500 people) in Australia. The report assesses how the current economic situation has affected these organisations’ ability to support employee wellbeing, ensure job security, maintain company culture, address the gender pay gap, and much more. The report also outlines what HR teams are prioritising for the year ahead to navigate economic uncertainty.
The news, however, comes off the back of research by the Australian Bureau of Statistics, which finds that large and mid-sized organisations are struggling more than small businesses to find suitable staff.
Australia-based Damien Andreasen, HiBob’s vice president for Asia Pacific and Japan, said: “Most people may assume that since the economic downturn, businesses have had to batten down the hatches to survive. And while that’s unfortunately the case for many, we’re seeing Australia’s mid-sized organisations fighting back, and looking to grow despite the economic situation in which they find themselves.
“But hiring is only part of the challenge. Onboarding has become much more difficult in this environment of uncertainty, and so engaging with new employees in a way that supports them from day one has become much more important. An effective onboarding process ensures that employees start adding value to the business quickly.”