Change in Salaries, AI Advances, and a Flourishing Talent Pool.

As we stride into a new era, the Real Estate & Property Recruitment market continues to evolve, presenting both challenges and exciting opportunities. In this edition of Gough Roundup, we bring you insights into the latest trends shaping the industry, catering to both our esteemed clients and dedicated candidates.

1. Salaries: A Shift in the Market

After a period of declining real wages, there seems to be a shift. According to SEEK ASI, advertised salaries have increased by an impressive 4.5%, outpacing inflation at 4.3%. This positive trajectory indicates a market where talent is increasingly valued, setting the stage for more rewarding opportunities for candidates and a competitive edge for our clients. However, this salary surge is not uniform across all states. In particular, states like New South Wales (NSW) and Victoria (VIC) are reporting a stabilisation in salaries, aligning more closely with market values. It's worth noting that some factors driving increased salaries are driven by candidates with multiple offers.

2. AI's Ascendance: Transforming the Recruitment Landscape

The rise of Artificial Intelligence in the recruitment process is no longer a distant future – it's happening now. AI is reshaping how we approach talent acquisition, enhancing efficiency and accuracy. Recruiters are leveraging AI to streamline processes while maintaining the human touch that defines their commitment to understanding unique career aspirations and organisational needs.

3. Slow Hiring, Steady Progress: Navigating the Complexity

While the hiring landscape is marked by a slower pace, employers are becoming discerning in their criteria. Decision-making is deliberate, and the definition of a suitable candidate is evolving, making recruitment a more complex and nuanced process. As employers exercise caution and candidates approach moves more tentatively, Gough is here to navigate these complexities, ensuring seamless matches that stand the test of time.

4. Employment Landscape Overview: A Statistical Glance

The Australian Bureau of Statistics' latest report (November 2023) reveals a nuanced employment landscape. While total employment increased to 14,259,000, monthly hours worked decreased to 1,941 million. Full-time employment saw a rise of 57,000 to 9,905,900, and part-time employment increased by 4,500 to 4,351,600. Gough remains committed to interpreting these trends for the benefit of our clients and candidates.

5. Temporary Triumph: The Resilience of Temporary Recruitment

In a landscape of uncertainty, the resilience of temporary recruitment persists. Organisations recognise the need for flexibility and agility in their workforce. Gough stands ready to connect skilled professionals with temporary opportunities that offer growth, learning, and valuable contributions to the dynamic Real Estate & Property sector.

6. Surge in Applications: A Flourishing Talent Pool

In exciting news, we've witnessed a notable increase in job applications, indicating a flourishing talent pool eager to explore new opportunities. Whether you're a candidate seeking the next step in your career or a client looking to tap into this diverse pool of talent, Gough is well-equipped to facilitate these connections.

7. Workplace Flexibility - A Shifting Paradigm:

The concept of workplace flexibility has gained significant traction, introducing a layer to the recruitment landscape. While clients express a preference for candidates to return to the office, candidates are increasingly drawn to roles offering flexibility.

It's worth highlighting that Fair Work has emphasised the rights of full-time and part-time employees to request flexible work arrangements if they have been with the same employer for at least 12 months. This provides candidates with the opportunity to strike a balance between their professional and personal lives.

For more information on flexible working arrangements, you can refer to Fair Work's guidelines here.

As we navigate these trends, Gough Recruitment remains steadfast in our commitment to providing exceptional service, bridging the gap between talent and industry-leading organisations.

We invite you to reach out to our dedicated consultants to explore how Gough can be your strategic partner in achieving your career or recruitment goals.