Superannuation
Wanted: 20,000 workers Recruitment crisis on boomer exodus
The
estimated shortage of 10,000 workers across the ACT could double over
the next three years when large numbers of baby boomers retire.
Public
service job cutbacks in Tuesday week’s Federal budget, tipped to cost
Canberra up to 3000 positions, is likely to have little impact on the
capital’s worsening skills drought.
Today,
The Canberra Times begins a three-part series on the extent of the
ACT skills drought, which is worse here than anywhere else in
Australia, and what could be done to fix it.
ACT
Chamber of Commerce chief executive Chris Peters said business growth
in the territory had been stalled for 18 months due to insufficient
workers.
“About
two years ago staff shortages were No13 on businesses lists of
concerns. It’s been No1 for about 18 months, so it is the major
impediment to business growth.”
The
ACT Skills Commission and the chamber’s research shows the ACT will
continue to be hardest hit of all Australian states and territories
from a shortage of skilled and unskilled workers.
Access
Economics research shows the ACT’s population is biased towards the
45 to 59 age group.
The
demographics report compiled for the Skills Commission says the
retirement timing of this age group and especially those aged 50 to
54 will have an even greater impact on the ACT workforce than it will
nationally.
Access
Economics expects increasing labour force participation rates up to
2010, with a reversal of that trend from 2010 to 2015 and a sharp
reduction in participation after then because the main part of the
baby boom generation will have reached the age of 65.
ACT
Skills Commission chairman Derek Volker warns that today’s delays
will become tomorrow’s disaster when too few people are available to
look after elderly folk.
“It
is not a skills problem, it’s more a people problem and if we don’t
do something about it, it could turn into a crisis not too far down
the track.”
Home
Help Service ACT, a not-for-profit organisation that provides in-home
support to the elderly and frail aged, could place 20 people
immediately in its stretched ranks of carers.
Canberra
employers scouring the country and overseas for employees are
competing with the remainder of the western world which is suffering
a skills drought.
Mr
Peters said three factors contributed to the territory’s exceptional
worker shortage:
Having
both the lowest unemployment (2.4 per cent) and highest participation
rates in Australia, which meant there weren’t too many stay-at-home
mothers, or unemployed, to fill job vacancies;
The
ACT and Adelaide had Australia’s two fastest aging populations; and
Older
public servants in a former Superannuation scheme had to retire
before 55 to maximise their superannuation benefits.
“Canberra
has the highest percentage of public servants than anywhere in
Australia and they retire a decade earlier than the rest of
Australia.” Mr Peters said Federal budget cuts in two weeks were
expected to cause a net loss of 1000 people from the Commonwealth
Public Service.
At
best those leaving would have wide-ranging expertise.
“It
depends on what the mix is I expect the mix will be fairly broad,
which would be widely welcomed by the business community, but all of
those won’t solve our problem.”
Shortages
are in all sectors, from engineering, health, trades, services and
construction.
Multinational
construction company Bovis Lend Lease said employers were competing
with unprecedented building in the booming Middle East countries, and
project directors could command salaries of up to $300,000.
Hays
senior regional director for Canberra Jane Donnelly said financial
controllers and managers on salaries of up to $100,000 and $130,000
were in demand following the meltdown of global financial markets
last year.
“Within
the banking sector they are far more aware of the risk associated
with certain products, they are seeking people with extensive risk
analyst-type skills.”
Mr
Peters said the shortage meant people were finding the service in
places like restaurants, hairdressing salons and workshops slower.
“If you have an accident driving home tonight in your car,
typically your car will sit on the panel beaters shop floor for two
weeks until they can get to it. That’s now. In three years time that
[timeframe] will double.”
-
John Thistleton, The Canberra Times
National
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