Australian businesses embrace flexible employment strategies to beat the downturn

Australian employers are realising the benefits of flexible, part-time employment strategies to help them through the economic downturn, despite today’s Australian Bureau of Statistics May Labour Force results revealing unemployment has risen 0.3 per cent to 5.7 per cent.

After an unexpected dip of 0.3 per cent in the April jobless rate, May’s figures have returned to the general trend of rising unemployment, with the participation rate remaining steady at 65.5 per cent.

While the ABS figures reflect the growing impact of the financial downturn on businesses in Australia, they also indicate a significant rise in part-time employment, highlighting the adaptable nature of the Australian employment landscape.

In May, full-time employment decreased by 26,200 to 7,643,100, but part-time employment increased by 24,500 to 3,150,000.

Deb Loveridge, CEO of leading recruitment and HR services company Randstad (Asia Pacific), says, it is encouraging to see that both employees and employers are embracing flexibility and considering employment strategies which benefit both parties, in order to achieve their employment goals within the current market.

“With May’s employment figures reflecting a constricting job market, it is important businesses carefully examine their HR strategies and implement tactics which help maximise the available talent pool.

“Wherever possible, we are encouraging businesses to think laterally about cost-cutting measures, analysing what fixed costs could be turned into variable costs – such as introducing a four-day week or a nine-day fortnight, just until the company is back in growth mode. If that’s what is needed to maintain goodwill with people, to protect the organisation and to be well prepared for the inevitable upturn, then it is the right move,” said Loveridge.

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Deb Loveridge, Chief Executive Officer of Randstad (Asia Pacific) is available for comment on the Labour Force statistics as well as the following issues:

• How the employment market is reacting to the contracting economy and how jobseekers should adapt their employment expectations and plans
• Employment strategies business can implement to marry their bottom line requirements with the continuing need for staff retention
• How jobseekers can place themselves in the best position when looking for employment and how to maximise their employment prospects
• Strategies which can assist employees and employers navigate the changing HR landscape