Surge in demand for contingent workers
By by Adelle Chua on Wednesday, 4 October 2017
The number of advertised temporary, contract and casual job vacancies in Australia increased significantly over the past four years, with white collar professions as the fastest-growing users of contingent hires.
According to the Contingent Job index report by fund manager Kinetic Super, there was a 43% jump in the number of contingent workers nationwide in September 2017 compared to November 2013.
Employers in the finance and insurance sectors grew the most, with its use of temporary and contract talent solutions up by 50.7% in the past six months alone.
“We recognise that Australia’s modern workers are on the move in their lives and careers,” said Katherine Kaspar, Kinetic Super CEO.
The Index seeks to provide unique and valuable insights for HR professionals and to help inform business planning.
“Our analysis helps identify where employment models are changing. This will help employers stay ahead of the trends and what their competitors are doing,” the report said.
Nearly 43% of the education and training industry is composed of contingent staff despite academic roles being given, traditionally, as permanent appointments.
But the recent collapse of private educational establishments following the removal of Federal Government Funding package has significantly reduced fixed-term staff appointments, resulting in a shift to contingent hires.
During the same four-year period, Victoria/Tasmania and South Australia/ Northern Territory saw the fastest growth in the use of contingent labour, with a 70% increase in advertised temporary, contract and casual roles.
The Index tracked advertised vacancies in digital advertisements on job boards, employer career portals and recruitment company web sites. Its research covered 4,000 sources in Australia.