An interesting trend that’s been happening the past few months which we think will continue to expand across key aging demographic markets to help ease the labor shortage is the final act of desperation: employee poaching.
This article is from Australia but it will easily apply to the United States and Europe. To summarize the article, smaller companies in Australia simply can’t compete against larger firms so larger firms and actively poaching employees from smaller firms. We knew this would come as we wrote in T-Rex Will Eat First, large firms like Amazon and Walmart offer better pay and benefits and attract the best workers for the money while everyone else fights over labor scraps.
Australian small business owner Coco Hou has lost almost half her staff in the space of just a few months and describes the situation as a “big struggle”. .. The accounting sector is under siege across the country. Hardworking small to medium sized accounting businesses are being attacked by larger companies raiding their workforce,” Ms Hou said.
News.com.au
The problem has been occurring in the United State in various markets. Most recently, the poaching of healthcare workers has been a key industry where poaching has been intensive. From SkilledNursingNews.com
With only a finite number of nurses in the worker pool to choose from, nursing homes are inevitably competing with one another for staff — leading to an increase in poaching. “We’re not just the victims of it, we’re the perpetrators of it every chance we get,” Quality Life Services Chief Administrative Officer Susie Tack Beardsley told Skilled Nursing News. “We’re all fighting for the same nurses.
SkilledNursingNews.com
Returning back to Australia, we’ve been researching labor trends across the globe and Australia estimates it will need 1.2 million new workers over the next four years:
Australia will need 1.2 million more workers within four years, including more than 98,600 technology specialists, 20,400 solicitors and 7700 auditors, ramping up pressure on employers to offer bigger salaries and more promotions.
afr.com
Like the US, Australia has an aging problem and a birth rate problem. The median age of men and women is approaching 40 years old. We expect the worker shortage to get worse in Australia. We are researching profit opportunities in Australia as well. In the meantime stay tuned and stay solvent…