What you should know about Engineering talent shortage & what we can do about it.
The need for skilled engineers continues to challenge businesses across Australia.
This year’s 2018 Federal Budget highlights how the Government is allocating $200 million for another round of the Building Better Regions Fund (BBRF), which supports projects that involve the construction of new infrastructure. Additionally, the Regional Growth Fund is investing $272 million in larger regional infrastructure projects supporting long-term economic growth.
With the confirmation of new or extended infrastructure projects, we anticipate continued substantial growth in the job market, which should in turn provide strong economic benefits and flow on social advantages.
Yet in spite of our economic progress, we are still seeing a labour shortage in engineering resources. The demand for skilled engineers continues to outstrip supply.
The Department of Jobs and Small Business has reported difficulty in the recruitment of senior and specialist engineering talent across Australia; with the likes of NSW experiencing a metropolitan shortage in Civil Engineering Professionals and Electrical Engineers.
This skill shortage is seeing the emergence of a candidate driven market. Our experience and research highlights the following challenges in the availability of top talent:
- Insufficient professional experience
- Lack of specific industry or sector knowledge
- Unqualified skills and inadequate competencies
- A lack of soft skills, including communication, mentoring and leadership skills
2- Shoulder Tapping and Networking
In a time of skills shortage, the maxim ‘It’s not what you know, it’s who you know’ applies. Candidates are enjoying the advantage of being shoulder tapped by associates and of course we are tapping into our extensive talent pools; resulting in quicker decision making and eliminating long-winded recruitment processes.
The latest SEEK data shows that job growth in Engineering sector is in the top three, following Mining, Resources & Energy, and Trades & Services.
With an average median salary of $112,000 for mining, resources and energy engineers across Australia, the dangling carrot of higher packages is in full view, engineering firms are also conducting salary reviews on current staff across the board to increase retention.
Data from the Department of Education and Training illustrates that while domestic students pursuing to complete bachelor in Engineering are historically at an all-time high, commencement levels have consistently declined over the last three years.
“This ’talent shortage’ has been identified by Australian CEOs as one of their top business risk areas, but it also creates huge competitive job opportunities for Australians with engineering and IT skills," says Kendra Banks, Managing Director SEEK ANZ.
The decline and consequent shortage of Engineering graduates will significantly impact talent pools across the board. One simply cannot be an Engineer without a qualification in Engineering.
Like every other sector, engineering is about to face the challenges of new and emerging technologies within the workforce. Digitistation, automation and constant changes in technology means that the older generation of engineers may struggle to come up to speed with advanced technologies and progressive techniques.
Titan Recruitment has been providing end-to-end recruitment solutions within Engineering and Technology since 1999. We are a specialist recruitment company, which means we have strong industry knowledge and the connections to get you ahead in your career.
Interested in new opportunities within Engineering or looking to tap into our rich engineering talent pools? Contact Anthony Blair for a step up in your career on Anthony.Blair@titanrecruitment.com.au