If you are considering your next move, it will pay dividends to research behaviours in the market and to better understand labour hire trends both for the short-term towards the medium to long term outlook (3-5 and 10 year outlooks). The purpose of doing this, is to ensure you identify those markets with growth opportunities and try to steer away from shrinking markets whilst adjusting to COVID time. The Department of Employment in Australia recently published a forward outlook from to 2023 for NSW, ACT, WA, QLD, VIC and all regions. In this summary, we can clearly see industries such as wholesale, utilities, and manufacturing showing a decline in projected employment higher for the next five years.
The following graph (source Department of Industry) provides employment projections to May 2023:
Basically, more-green is showing a projected growth whereas less green or red is telling us that these particular sectors will either be stagnant or we can expect further shrinkage in the years to come.
With the ever-changing shifts in how businesses work and with the latest developments in technology, it is inevitable that traditional ways of working will become obsolete. For example, the role of the traditional cashier at the bank is slowly drying up with more and more branches closing. Drivers in the logistics industry are becoming increasingly more concerned as the era of “driverless vehicles“ becomes a new reality. Construction workers have seen automated equipment such as bricklaying being trialled in Australia. Inventory controllers have seen their work removed with the advent of the latest scanning and inventory control technology.
However, anything technology is always a major hit; from machine-learning engineers through to big data developers, full stack engineers, and more. In marketing, data analytics has seen huge growth as have areas that focus on customer success and the customer journey. There would always be a need for frontline sales, and management positions are less at risk providing the incumbent is commercially savvy, a technology innovator, and able to get the most out of their staff. And, let's not forget the Health Sector, someone needs to look after all those bad backs and poor postures!
We should note that niche jobs will always exist in the market (and often pay well). To future-proof your career, try to make sure your area(s) of specialism will still be around in the years to come. Furthermore, to get the best results and improved pay and career opportunities, it will pay to specialise in these emerging sectors of the market.
Don’t just think about your next job. Think about the next 5-10 years (and beyond). Capitalise on trends (trends are your friend) and do what it takes to make changes today for tomorrow. Consider the best options and regions to live in as NSW, ACT, WA, QLD, VIC and all regions have different opportunity.