by Montagu Group | Mar 15, 2023 | Candidates, Employers, Montagu Group
The current job market in Technology and Digital in Australia
Suki Stander: I want to speak about a little bit more of what’s going on in the current market in Technology and Digital at the moment. Not just not just the here and now, but In the economy. Candidates coming to an interview with, or actually having a conversation with you? So, I read up a little bit.
I was thinking a little bit about the the external environment actually impacting So many things like how you feel, your attitude, your resilience yourself worth your confidence, like there’s so many things that impact that and start reading up and I landed on the redundancies that’s happening in Australia at the moment like this.
Recently I read that around 85,000 people that have been made redundant in the tech industry since January this year. You can find the article here. What does that mean? It creates it creates uncertainty and creates. Fear people are scared. But also then creates caution- It’s like Oh, I’d rather stay where I’m at –Even if it’s bad, I won’t look around because maybe what I have is actually not that bad. So it just I feel like it changes the mindset of where candidates are sitting,.But also clients are being more cautious about employing the right person.
Is it as bad as it sounds?
I actually don’t think it’s as bad, like, 85,000 people made redundant this year. but if you play it off against how many people were hired, The previous two years. That was an anomaly as well. So that numb, if you compare the two numbers. Economically somewhere. They had to be a Reshift or a reset really of we over hired. For certain reasons. Online companies or convenient companies, like, Doordash bring stuff to your door and covid that was where the money went and those people that the tech, it’s tech companies, but they don’t actually specify.
A lot of the time it is the technical guys, but a lot of the time, it’s the admin or HR people as well, which is concerning because obviously, the HR people are flooding the market. And that’s a whole different conversation is like, if HR people are being let, go, and admin, people are being let go, does that mean that AI that companies are seeing that? I might take over those positions. I don’t know what the answer to that question is.
What about smaller companys?
But it’s not just technical people and the big companies, but the smaller companies that potentially didn’t grow as much as the big tech companies during covert for various reasons. They might want it to grow, but they couldn’t afford the talent because the talent prices just went through the roof. It wasn’t that much talent available. So these smaller companies didn’t grow as aggressively but they’re still grown. So they’ve taken the fold. Now, I’m going. Thank you. We will take these guys and we’ll pop them into our our spots that we have available. So it might be a little bit of a redistribution of talents and a bit of a reset in the market from where we were still doesn’t make it great. So doesn’t make it. Oh, we’re confident about everything that’s happening. Interest rates, everything that’s going up.
The Global Cycle Impact
I can understand we can that’s our setting when you just reading this and it creates uncertainty, I’ve been through a few of these in my my career globally. It’s a cycle and good candidates will always find a job. It just works that way. If you’re good at what you do, you’ll find your next position. It might be a two weeks and turn around. It might be a three week turnaround but good candidates will still find opportunities out there and the market is going to take I think it’s gonna take Maybe till September October November this year. The things just to settle back to. Oh, okay. I can see where we’re at, I can see, sort of what’s coming where we’ve come from things of settled down a little bit and maybe a bit of confidence comes back, maybe a bit of conference comes back into the market.
What are we hoping for the future?
I’m hoping that for us, it’s really just we’re here. We haven’t gone anywhere we still doing what we’re doing. We still providing the same service. There might be a need to adjust the service a little bit in terms of the questions that we’re asking. But it’s about finding great, candidates for great employers, bottom line, Yeah, that’s that’s where my head is out at the moment in terms of how do we fit into this. This environment that’s uncertainty. I think for us, it’s to provide the certainty in the little space that we can for the little bit of time that we actually working with. Again a client. This is what it is. It’s is the full picture, the good, the bad, the ugly, you know exactly what you’re getting.
Go and explore and then give us your feedback. Nothing is you have to take the job is explore. See how it fits in with your environment, your lifestyle, your current situation. We’re providing that conduit. Yeah, safe pair of hands. Eating you through. The client and the candidate really.
To get to know Montagu Group read our story here.
Want to register your profile for your next role?
Follow us on LinkedIn.
Add your comments to the conversation here.
by Montagu Group | Mar 14, 2023 | Candidates, Employers, Montagu Group
Quiet Hiring in Technology, Digital and Finance Recruitment
with Adele McNiff Industry Leader
Adele McNiff: So, yeah, I’ve had a couple of discussions with a number of clients over the last few weeks initiated by, then about the concept of Quiet Hiring in Recruitment Technology. It’s not actually something that I’d come across as yet. Obviously, we’re all familiar from last year with quiet, quitting and quiet firing, but not quiet hiring. I had a little look into it and there’s a really good Gartner report on it.
It’s not a new concept,the age-old concept that I think most organizations do with standard of taking, a strategic view of your current workforce and looking at how best to deploy them. The aim being to get the best results to reach the strategic goals of the organization. What was really interesting to me, and I think it’s indicative of a little bit of a mindset. We’re generally see in every in every one at the moment. The financial challenges and interest rates going up and the cost of everything increasing was just the, the very, the automatic instinct was this was a negative thing. It was good for employers, but it wasn’t good for employees.
And I don’t think that’s necessarily true, you know? For an organization it lets them deploy, their existing staff, where they’re going to get the best bang for Buck and and that’s certainly going to give them, you know, continuity of employment and, and keeping the IP in-house that this endless benefits for an organization.
As an employee, how do I have the conversation?
But as an employee, you ask, what’s in it for me. I think that really comes down to how you view it within the organization that you’re in. That the biggest con is, Is this a way to just make me do two jobs and double my workload for the same money? But I think if you that the key to it for me is making sure you’re looking at the full picture and be assertive, ask the questions. What am I going to be expected to do, is it a whole new role you want to put me in if it is? Is it a promotion if it is? Let’sNegotiate.
Is it a side step but just with different responsibilities?Does that align with where I want my career to go? What training will I have so that I can be successful in the job? Am I maintaining part of my existing function? Will I be completing the whole workload with these new functions? Do I need to negotiate?
Future-proofing with Quiet Hiring
I think it certainly got positives and we’ve been having lots of discussions about artificial intelligence and that taking away the functional aspects of people’s job descriptions and responsibilities. So there could be a great opportunity in it to add to your existing skills or diversity skills in a way that will future prove you. But for me the key is be assertive; ask the questions negotiate if you need to and just be sure, you’ve got the full picture.
To add your comments to the discussion follow us on YouTube @MontaguGroup.
Want to reach out to discuss your personal growth in your current role, reach out to us on LinkedIn.
To get to know Suki and Adele Montagu Group Co-Founders, click here.
by Montagu Group | Mar 5, 2023 | Employers, Montagu Group
Will a Four Day Work Week Work?
Adele McNiff:Today we are looking at the concept of a four day work week in Australia, This this isn’t an entirely new concept, but it’s come back in the news of late because I think there’s been some trials in particularly the US and the UK, which are coming to the end of. It was a six months trial period, and they’re starting to publish some of the data around that Tayla.I think that’s something you’ve been looking into.
Potential figures for a Four Day Work Week in Australia
Tayla Allan: Tiktok has provided me with a lot of information regarding the outcomes. So they came up with 73% of the workers have reported to be more happier, within their job and also outside their work. 40% reported fewer sleep problems. 64% drop in quitting and a 71% drop in reported burnout. 92% of the company said that they’ll continue with the four-day work week after the trial, and then there’s been no drop in wages in the trial, as well as workload. So, I think that in itself just says, from a candidate point of view, that just happy are in general, because they’ve got more of a work-life balance. Instead of spending five out of seven days at work, they spend four out of seven. So they are getting to spend time with their family, their friends, all of that, without an extra workload,
Adele McNiff: What do we see as some of the potential pros and cons to a four-day working week in Australia?
Tayla Allan: I mean, I think it really depends on the industry that you’re eating. It’s not not for all industries. I think it works really well for some and it’s physically impossible for others.
Technology and Finance Industry Leadership Shift
Suki Stander: I think, as well is maybe the It’s a mind shift. It’s like we had the mind shift of working from home and Covid, forced that to happen. I think it would have taken much longer for companies to say. Well, let’s do this. Let’s work from home and work from the office and have that hybrid environment or work, 100% remotely. So, It’s it’s getting our heads around. What is this look like? And is it, do we need to work more in terms of our outcomes?What is it going to be based on? How do you know that you’ve actually succeeded and completed what you needed to do in your four days.‘m doing five or so do it in from five days to four days and I did a bit of reading and I just I thought it be really interesting to understand.Why would five days a week and it actually dates back to the 1890s?
History of the Five Day Work Week
Suki Stander: People were working in the manufacturing industry and they it’s late 1890s and going into the early 1900 where they were talking about people working like a hundred hours a week in a manufacturing environment and they were lobbying to take the hours down. So, to work a 40-hour work week instead of a hundred hours working six or seven days a week. So the lobbying happened around, that was actually Henry Ford in 1926 or 1925. That was the first big well-known organization and we know we’re working 40 hour weeks that’s it. So that’s 1926 that there was a real challenge.
Adele McNiff: That’s fascinating. I didn’t know any of that and what’s interesting. You think about it, the world in 1926. It’s different from the world today and I think we are in for another shift in the way we work and what work requires others with the growth in AI and everything that goes with it. So you’ve got to think we are ready or if not overdue for some kind of structural change in what we consider a normal working week and and a move to outcomes and tayla. Like you said, for me that doesn’t work in every industry. It can’t correlate necessarily, but I think as an organization you need to be asking yourself perhaps why you shouldn’t do it, rather than why you should one of the takeaways that I took from some of the, the research and that the trial projects outcomes.
What happens when a Four Day Work Week empowers your talent?
Adele McNiff: I thought it was interesting was the decrease that they were seeing in sick leave being taken, you know, I think a mental health is becoming increasingly more important for all of us as a society, but particularly in the workplace and avoiding burnout in particular but also, you know, when I think of my answer circumstances with a young family, you constantly on the go, if you’re not at work, you’re dealing with family related things. When I personally need to go to the doctors, where do I fit that in? For example, all you know, you need to go under your six monthly dental, check having that.Working day where those practices are open. Lets you do that without having to impact on the rest of your working week. So I think that’s a positive.It gives people the opportunity to balance things a bit more in that in turn makes you feel a little more in control and a little less stressed.
Future Employees
I was actually talking to a client this morning about this. The whole concept of a four-day working week and he read something quite interesting. We were discussing the fact that the study so far would have predominantly been with existing employees, because they’ve only done it for six months. And so those employees already knew what their five day working week salary was. So somebody new coming into the organization, who’s perhaps getting told that they’re going to get paid a five-day a week salary, but only have to put those hours into four. Is there a risk of it’s a slightly cynical view? But is there a risk that they start questioning? Whether they really are getting paid for a five-day week or has the salary been reduced in turn for the client is somebody asking for an increased salary because they’re worried that they might not get any paid, a full FTE salary. So I think there’s a lot of background thinking, for organizations that needs to go in around.
Adele McNiff: How are you transparent with salaries and that parity and people, you know, now that the legislation has just changed and there’s no longer any, it’s not legal to have a confidentiality clause around salaries in contracts.
Adele McNiff: You’ve got to be absolutely above board with those elements because people will talk and you can then end up with a lot of discord if it’s not being managed very transparently and very honestly. So it was just a really interesting perspective.
Australia’s Four Work Day Week
Suki Stander: Mmm. Absolutely. And I think it’s again if there’s a lot of thought that has to go into this, it’s not. Are we going to do it tomorrow? I was part of a networking webinar, where they an Australian company, it’s a clear recruitment company that implemented a four-day work trial. They called it a trial because they was they wanted to see how it actually works for the employees and when they were asked. So on the fifth day when the employee doesn’t work, what happens then if they get a phone call from a client because you know, our world doesnt stop.
Suki Stander: The expectation was you will take that call and I think that was down to culture because I want to take the call, I’m happy to take the call while I’m actually on my fifth day. So there’s a much bigger conversation than just going to four days a week. It’s the impact and the background that has to be looked at is huge another study that’s actually answer in Australia and I think it’s the nurses union that’s lobbying at the moment to look at the four-day work week for them.
Suki Stander: Because that’s a that’s a market that’s currently the can’t necessarily tap into, but they’ve done research. And if they can go to a four-day week that potentially would open up that market for them. That the mum that’s now a full-time, mum could become a part-time, mom and actually work and be able to juggle the day. Like you said that our juggle life and and work. So, Listen, I don’t think there’s a black and white answer to it for us.
KPI’s of the Four Day Work Week
Adele McNiff: I mean we all know how expensive is Yeah. So and I agree I think you have to go right back to the beginning and look at people’s position descriptions. Are you measuring them on outcomes rather than you know functions of a role you’ve got to think about how that feeds through to professional development discussions. And you know, perhaps remuneration reviews, you’ve got to really put some thought into it, but I certainly think. as a way of engaging your workforce and also,differentiating yourself in the candidate market, it’s definitely something that’s worth looking at.
Tayla Allan: Absolutely having a four-day week would spark a lot of interest for people out there especially the ones that are in an office environment with no flexibility or anything like that. A four-day week would be their dream.
Adele McNiff: So I think it’s a very interesting topic and I don’t think it’s one that’s gonna go away anytime soon and it will ebb and floor a little. I think it’s people try it for some, it works for others. It doesn’t. But we love any thoughts and have no aspects. We haven’t considered please give us your views.
Tayla Allan: If you’re in a four-day week at the moment,what is it like? Let us know. Spill the tea.
To watch the full discussion check out the video @MontaguGroup on Youtube.
To discuss your talent slutions and future development contact Adele and Suki on LinkedIn.
Get to know industrly leaders Adele and Suki here.
by Montagu Group | Mar 1, 2023 | Montagu Group
Artificial Intelligence and Business impact in recruitment – Group discussion with Adele, Suki and Tayla.
Get to know the team here.
Add your comments to the discussion here.
Suki Stander:We wanted to have a conversation around, artificial intelligence and its impact on business. Specifically in the digital,technology and finance recruitment world. So where do we start? What do we address?
So today its having a conversation about the market. Discussing the areas that are being touched by AI,and then delving into the the different areas in more detail.
Adele McNiff: We’re already seeing the early impact of Artificial Intelligence in business.Largely in a positive way, as there’s a multitude of ways that AI can make the recruitment process more efficient.Particularly in that sourcing and early screening phase, as AI is developing.Not just in the recruitment business sphere, but also for all organizations.The biggest point for consideration is the quality and quantity of data that you have. AI will then be a massive disruption for how processes are driven. Now is the time to start thinking about what aspects are data-driven.Defining what you need out of that data is important in being prepared. Otherwise you may be that client that still recruits the old way and potentially, misses out on some of the best quality candidates in the market.
Artifical Intelligence vs connection in recruitment and business impact
Suki Stander: The business of impact of Artificial intelligence in technology finance recruitment, is particularly of interest. How to best incorporate and understand the data,to be able to find that that right candidate or communicate on behalf of the client to continue to make the right match.Maybe skills aren’t the thing that clients will be looking for in the future. Meaning the market will lean more to attitude,aptitude and creativity. A whole bunch of other factors will be looked at which is outside of current framework in recruitment in technology and accounting.
Artificial Intelligence and Keywords
Tayla Allan: Artificial intelligence is already being used in keyword searching. Candidates who are angling to change roles and be found by recruiters on Linkedin or tailoring resumes, which is my experience in terms of AI. It’s definitely good for being efficent in finding the right candidates.Ive heard of interview processes where AI scans your facial expressions. I do like to have that personal interaction with people.For initial sourcing and screening AI has positive business impact in regard to time. Theres just something about calling somebody,and vibing with that person that AI can’t do. They cant share in that human connection experience.
Adele McNiff: We might have many years of recruitment experience between us in digital and finance,but things are constantly changing. We want people to challenge us on our thinking and provide insight. So get involved and be part of the discussion!
Suki Stander: We dont know all the answers.These are the trends and we would love to be apart of your individual AI transofrmation and explore the journey with you.
To see more about Montagu Group and keep up with discussion and advice, follow us on YouTube.
To contact the team directly about your talent goals and solutions follow us on Linkedin.
by Montagu Group | Feb 8, 2023 | Montagu Group
What role will Artifical Intelligence play in the changing recruitment landscape in Technology, Digital and Finance?
I’ve recently been on my own learning journey around, the potential artificial intelligence impact in Technolgy and Finance Recruitment.
Obviously it’s a very pertinent topic at the moment in a lot of aspects of our lives. But I’ve been trying to upskill myself with knowledge around, what the potential implications of it are, as it becomes much more powerful; which it’s definitely going to and what that means specifically with a people lens on it and talent solutions, both for our clients andour candidates. And what it means for us internally at Montagu Group, within the Technology and Finance Recruitment sector.
At this point in the journey, I’ve got as many questions as I’ve got answers. So would love any input and thoughts that anybody out there has on what the impact of AI, might be moving forwards in the workplace.
For me at the moment, I look at a lot of organizations and the way they’re structured is from an orch chart perspective, and from a Technology and Finance recruitment perspective, is quite functional. I think the functional component is exactly what artificial intelligence is going to remove. It can generate the content and produce the content but really I think where the people component is going to come in in the future is that content application and the creative thinking around that content.
So it’s led me to question what that means for organizations and for employees who are potential candidates in the finance and technolgy recruitment market, for a future role.
Are you an organisation thinking about Artificial Intelligence?
Are you continuing with perhaps your traditional recruitment process of looking to match people with the skills that you need? Or are you already moving away from that and thinking about the soft skills which are going to be the things like creativity, the ability to innovate that communication piece, the ability to join dots on data and draw inferences from that. Going into applying that to your organizational structure- What are the rules going to look like if those functional roles that are traditionally taken by the more junior members of the workforce don’t exist in that form anymore. How are you going to bring people in at the more junior level? And skill them up both in life experience and soft skill experience to be the leaders that you need in the future?
As a candidate do you have concerns, but more importantly guidance and support?
For candidates what do you need to look at? In your current skillset, particularly your soft skills to prepare yourself for this massive, evolving shift in the workforce, which whether we wanted to or not is coming very, very quickly, and I think it brings a whole lot of opportunity, but like, any major change, it brings a lot of challenges as well.
So I would love to just hear what people are thinking about the hiring strategy, how they’re going to go to market, how they’re going to structure the organization.
If youre a candidate, what you’re doing to prepare yourself?
We’d love to be part of that journey with you here at Montagu Group, if you are looking for a new role within the technolgy, digital or accounting sectors. So if there’s anything at all that we can do to help please reach out or share your thoughts we love to connect and chat about current topics we’re all thinking about.
To watch the video and add your comments to the discussion please follow us on LinkedIn.
Click here to meet Adele our Montagu Group Co-Founder, Recruitment specialist in Information Technology Accounting and Finance.
