Latest Employment Trends and Tips

As part of our regular review of employment trends, we offer the following advice.

According to the latest ANZ Job Ad Series, seasonally adjusted total job ads fell 1.3% in April. The ANZ bank says ABS labour force data has been so volatile in recent months that it’s unable to make an employment forecast.

Combined newspaper and online job ads were down 18.2% year-on-year to 136,470 per week in April.

ANZ chief economist Ivan Colhoun said anecdotal evidence suggested job ads were weakening in line with declining mining and construction activity.

“Employment figures have been exceedingly volatile in recent months and have become effectively impossible to forecast and therefore largely uninterpretable on a monthly basis,” Colhoun added.

“For that reason, trends in the unemployment rate should be focused on. ANZ expects the unemployment rate to remain unchanged at 5.6% in April.”

A good time to review your staffing models

The traditional law firm model is evolving. A growing number of law firms in the US have increased their use of temporary/contract lawyers. A California Lawyer survey of the state’s 50 largest firms found that eight offer non-partnership track positions.

If you have a need for a top level legal professional right now, but you are not ready to risk a full time or permanent position, it could be a good time to offer a contract for a specific project. That way you can keep taking on new cases or projects and employing the right staff as needed.

At empire careers, we monitor employment trends and we are seeing more contract work being offered. We also have some exceptional candidates available right now. You might be surprised at just who is out there.

Some employment tips to follow in a down market

  • Make sure all staff have a performance review before 30th June , so that you know where each person is at and how they are feeling.
  • Tap into strengths and weaknesses of your staff –who has capacity and who needs training.
  • Talk about the business and the challenges you are facing , keep talking even if it isn’t good news (no news isn’t good news).
  • If times are really tough see who might be interested in shorter days or weeks.

If you are unsure about the employment market and want some advice, please feel free to speak to one of our senior consultants. Because of our longstanding experience, we have been through it all before and would be very happy to help you stay in front of any potential challenges.