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Financial sector plans to hire more staff

The insurance industry is contributing to a buoyant outlook for the jobs market, according to the latest report from recruitment company Hudsons.

The report shows 32% of surveyed employers in financial services, including insurance, plan to increase their headcount in the second half of this year.

The sector ranks fourth out of eight categories. Technology leads the way, with 42% planning to increase staff, followed by 40% in professional services and 39% in the non-profit sector.

Resources and mining is at the bottom, with only 10% of employers planning to raise their headcount following the end of the sector’s boom.

Overall, 31.7% of employers plan to hire. The net result of 22.6% – taking into account employers that expect to cut staff – is down slightly on the first-half outlook, but still higher than in the preceding four years.

“It appears that despite confusing economic and political signals, employers are getting on with the job at hand and investing in the people they need to grow their business,” Hudson Recruitment Australia and New Zealand EGM Dean Davidson said.

The report also shows 44% of employees are “actively looking for new opportunities”, up from 26% late last year. A further 32% are open to hearing about opportunities, with only 24% content to stay put.

“More professionals are convinced the buoyant job market is here to stay, and are considering how they can build their career in this environment,” Mr Davidson says. “This should sound alarm bells for employers, which will need to redouble their retention efforts and be ready to manage an uptick in staff departures.”

Hudson tracked the hiring intentions of more than 2000 employers and the attitudes of 1330 employees.