In our latest episode of “Conversations that Connect,” hosts Suki Stander and Tayla Allan from Montagu Group discuss the current local and national market trends, focusing on the Sunshine Coast. This episode delves into the challenges businesses face in finding talent, the growth prospects for the region, and how these trends compare with national data. Join us as we explore the insights and implications of these findings for businesses and job seekers alike.

Introduction

In today’s dynamic job market, staying informed about local and national trends is crucial for both businesses and job seekers. Our discussion titled “Local and National Market Check-In” provides a comprehensive overview of the latest data and insights specific to the Sunshine Coast, shedding light on the challenges and opportunities present in the region.

Sunshine Coast Business Landscape

Regional Jobs Committee Insights

The Sunshine Coast Regional Jobs Committee recently hosted an event where over 30 local businesses gathered to discuss talent acquisition and other pressing issues. Tayla Allan shares, “It was really interesting to see the pain points around talent and finding talent for businesses.” The event featured a live data platform where businesses could input their details, providing a real-time snapshot of the local job market.

Business Size and Hiring Needs

One of the key insights from the event was the diversity in business sizes on the Sunshine Coast. The data revealed that:

• 32% of the companies hire 200+ employees
• 21% employ between 22-199 people
• 11% are sole traders

This diversity underscores the unique challenges and opportunities for businesses of all sizes in the region.

Challenges in Talent Acquisition

Universal Issues

Suki Stander highlights that while the Sunshine Coast faces specific challenges, many of these issues are universal. “From everything that I’m hearing, not just in our recruitment community but outside as well, the market is tightening up a little bit,” she explains. This tightening typically occurs around the end of the financial year as businesses pause to reassess budgets and future projects.

Finding Skilled Workers

A significant challenge identified was finding skilled workers. This issue is not unique to the Sunshine Coast but is prevalent across various regions. The struggle to attract and retain talent is exacerbated by the regional nature of the Sunshine Coast, making it essential for businesses to offer attractive packages and working conditions.

Growth and Expansion on the Sunshine Coast

Positive Market Sentiment

Despite the challenges, there is a positive sentiment about growth and expansion in the region. The data indicates that in the next one to three years:

• 29% of businesses are unsure about their growth prospects
• Another 29% plan to expand their workforce by 11-20%
• 7% anticipate a growth of over 50%

These statistics reflect a strong optimism among local businesses about future growth.

Impact of New Developments

Tayla mentions significant developments such as Aura and Beerwah East, which are expected to drive business growth. As these areas develop, the demand for skilled workers will increase, presenting both challenges and opportunities for businesses and job seekers.

Comparing Local and National Trends

National Market Sentiment

While the Sunshine Coast shows positive growth prospects, it’s crucial to compare these trends with national data. Suki suggests that future discussions should include a comparison of local data with national statistics to provide a broader perspective on market trends.

Regional vs. Metropolitan Areas

There is a notable difference in salary expectations between regional and metropolitan areas. While regional areas like the Sunshine Coast may offer lower salaries compared to cities like Brisbane, Sydney, or Melbourne, they compensate with benefits such as less commute time, better work-life balance, and flexible working arrangements.

Addressing Workforce Challenges

Key Workforce Issues

The most pressing workforce issues identified include:

• Finding skilled workers
• Retention
• Training and development
• Competitive salaries

These challenges highlight the need for businesses to focus on creating attractive work environments and offering opportunities for professional growth.

Community and Collaboration

One effective strategy to address these challenges is fostering community and collaboration. Tayla notes that many local companies are aligning themselves with schools and universities to tap into emerging talent. This collaboration helps create a pipeline of skilled workers ready to join the workforce upon graduation.

Housing and Relocation

Housing Challenges

Housing emerged as a significant challenge for both local and relocating employees. Suki shares, “I literally saw a post from a lady that is moving to regional Queensland because she’s just struggling with the cost of living and housing specifically in the major city.” This highlights the need for businesses to offer comprehensive relocation packages and support to attract talent to the region.

Relocation Packages

Relocation packages should go beyond financial incentives. They should include support systems to help employees and their families settle into the new area. This can involve connecting them with local real estate agents, schools, and community resources to ensure a smooth transition.

Opportunities and Future Prospects

The Sunshine Coast as a Hub

The Sunshine Coast is poised to become a significant hub for businesses and talent. With ongoing infrastructure developments, the region is becoming more accessible, making it an attractive destination for professionals seeking a better quality of life.

Balancing Regional and City Benefits

The Sunshine Coast offers the best of both worlds: a regional beach community with city job opportunities. As businesses continue to grow and develop in the area, the opportunities for job seekers will expand, making it an exciting time to be part of this vibrant community.

Conclusion

The “Local and National Market Check-In” provides valuable insights into the current state of the job market on the Sunshine Coast. By understanding the challenges and opportunities present in the region, businesses can better strategize their talent acquisition and retention efforts. Job seekers can also benefit from these insights, understanding the unique advantages of working in a growing regional community.

To stay updated on the latest market trends and gain more insights, be sure to listen to our full podcast episode of “Conversations that Connect.” Don’t forget to subscribe for future episodes packed with valuable advice and tips for navigating the world of work.

Key Takeaways

• Diverse Business Landscape on the Sunshine Coast:

  The region hosts a variety of businesses, from large companies employing over 200 people to sole traders. This diversity presents unique challenges and opportunities for talent acquisition and retention.

• Universal Challenges in Finding Skilled Workers:

  Despite regional differences, the struggle to find skilled workers is a common issue across various locations. Businesses need to offer attractive packages and support systems to attract and retain talent.

• Positive Growth Prospects:

  The Sunshine Coast is poised for significant growth, with new developments and infrastructure improvements driving business expansion. This growth will create numerous opportunities for job seekers and make the region an attractive destination for professionals.

If you have a burning topic you’d like to discuss, don’t hesitate to reach out at hello@montagu.com.au.

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