iTWire - Executives employment demand ‘levels out’ says EL Consult
source link: https://itwire.com/it-people-news/recruitment/executives-employment-demand-%e2%80%98levels-out%e2%80%99-says-el-consult.html
Go to the source link to view the article. You can view the picture content, updated content and better typesetting reading experience. If the link is broken, please click the button below to view the snapshot at that time.
Thursday, 03 August 2023 22:03
Executives employment demand ‘levels out’ says EL Consult Featured
By Gordon Peters
The demand for Australian executives has levelled out thanks to ongoing and agreed projects continuing to operate, according to the E.L. Executive Demand Index from executive search firm EL Consult.
EL Consult says that after its significant retraction the prior month, E.L. Executive Demand Index recovered 3 per cent in July, and most industry groups were flat or mildly positive,
Grant Montgomery, Managing Director of E.L Consult a human resources search firm that has researched and published the E.L. Executive Demand Index over the last 30 years, said: “After last month’s unprecedented decline there has been a slight levelling but by no means anything to make up for the fall suffered last month.
“Given that interest rates have a significant effect on projects’ viability it would be fair to say that this month’s rise would not be driven by hiring for any new capital projects - only ones already committed to,” Grant Montgomery said.
“It is now just over a year since the first increase in official rates – May 2022 – and even then, the pundits were saying that rates would not rise that significantly.
“So budgets and projects now coming into place or ongoing would have been decided upon and given the green light before the total increase in rates dawned upon them.
“Also, the Reserve Bank has found that projects over the past decade have been decided upon with a relatively sticky hurdle rate built in; ie, that the level of rates is not the be all and end all of how managers determine whether to go ahead with projects.
“I cannot be confident that this will be the case in the future – rates have been so low for so long managers might have simply underestimated the costs of money inherent in higher rates – but for the moment this tendency may be giving this index more buoyancy than perhaps is warranted.
“After all, even after the recent falls in demand, the overall level of executive demand is still 4 per cent above the same period last year.
“It is still our view, based on the E.L Index that, as a lead indicator, the economy is weakening, and itseems that the Reserve Bank is on the same page. The savage rises of the past take a little while to alter spending habits but that is now clearly happening.
“Good news for middle Australia - the main homeowners and mortgage holders.
“Of course, that is as long as they can keep their jobs as there are far fewer new jobs now being created.
“Among the industry sectors, the main highlight was a 6 per cent increase in Engineering which is good for capital works programs.”
Read 864 times
Please join our community here and become a VIP.
Subscribe to ITWIRE UPDATE Newsletter here
JOIN our iTWireTV our YouTube Community here
BACK TO LATEST NEWS here
GARTNER MARKET GUIDE FOR NDR 2022
You probably know that we are big believers in Network Detection and Response (NDR).Did you realise that Gartner also recommends that security teams prioritise NDR solutions to enhance their detection and response?
Picking the right NDR for your team and process can sometimes be the biggest challenge.
If you want to try out a Network Detection and Response tool, why not start with the best?
Vectra Network Detection and Response is the industry's most advanced AI-driven attack defence for identifying and stopping malicious tactics in your network without noise or the need for decryption.
Download the 2022 Gartner Market Guide for Network Detection and Response (NDR) for recommendations on how Network Detection and Response solutions can expand deeper into existing on-premises networks, and new cloud environments.
PROMOTE YOUR WEBINAR ON ITWIRE
It's all about Webinars.Marketing budgets are now focused on Webinars combined with Lead Generation.
If you wish to promote a Webinar we recommend at least a 3 to 4 week campaign prior to your event.
The iTWire campaign will include extensive adverts on our News Site itwire.com and prominent Newsletter promotion https://itwire.com/itwire-update.html and Promotional News & Editorial. Plus a video interview of the key speaker on iTWire TV https://www.youtube.com/c/iTWireTV/videos which will be used in Promotional Posts on the iTWire Home Page.
Now we are coming out of Lockdown iTWire will be focussed to assisting with your webinars and campaigns and assistance via part payments and extended terms, a Webinar Business Booster Pack and other supportive programs. We can also create your adverts and written content plus coordinate your video interview.
We look forward to discussing your campaign goals with you. Please click the button below.
Recommend
About Joyk
Aggregate valuable and interesting links.
Joyk means Joy of geeK