An acute shortage of creative talent in Australia and the rest of Asia Pacific is highlighted in the Aquent 2005-2006 Salary Monitor. Aquent is a global firm specialising in staffing solutions in the creative, marketing and communications industries and has collected specific data on the dynamics of the creative services sector in Australia.
The survey reveals that companies are facing significant new challenges in attracting and managing their prime assets – people. With rising salaries for high quality employees and general skills shortages across the board, there’s new pressure on companies’ bottom lines and the need for companies to manage client expectations. Companies are also thinking more creatively about attracting and retaining the best people.
The shortage of talent is mainly driven by business expansion. About 90% of companies in the Australian marketing industries expect their businesses to grow in the next 12 months. While this is good news on a growing economy, the emerging downside for companies is the race for and battle to retain the best talent.
The Sydney market shows signs of "overheating" with 25% of companies experiencing turnover in excess of 20% of their creative employees. In the next 12 months, creative staff will be added in Sydney (77% of companies surveyed), Brisbane (59%) and Melbourne (58%).
In Sydney, more than 77% of companies will increase salaries for full time employees. Melbourne (66%) and Brisbane (73%). The bulk of salary increases range from 2% to 7% per annum.
The freelance market is also vibrant. In Sydney, 21% of companies have freelance budgets in excess of $100,000 vs. 13% in 2004. In Brisbane 19% of employers will spend about $100,000 vs. 0% in 2004. In Melbourne, this drops from 19% in 2004 to 16% going forward. More than 70% of all companies say they will engage freelance staff.
More hiring trends and salary information are contained in the Aquent Salary Monitor report. For more information, contact Aquent, official career partner of AGDA, in Adelaide, Brisbane, Melbourne, Perth or Sydney on 1800 672 625.
This article was last modified on January 18, 2023
This article was first published on November 22, 2005
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