No need for businesses or jobseekers to panic following soaring Australian deficit
“Directing money towards redundancy management has the potential to cause fear in the minds of public sector employees. This needn’t be the case. Australia has a highly skilled workforce. There will be opportunities for those offered redundancies to apply the skills, knowledge and experience they have built in the public sector within commercial environments.
“As recruiters, we see candidates at all levels ready and willing to contribute their specialised skills. Some of the benefits of a public sector career are strong process and compliance skills, as well as exposure to and experience with commercial practices, through the application of policy and legislative framework.
“The administration of government is a complex and challenging workplace environment. Candidates can feel confident their skills and achievements will translate to the private sector and be of benefit to commercial employers in many industries.
“Anyone facing redundancy should consider upskilling and undertaking further learning, as well as the opportunity to take on a new career in any industry or role they are truly passionate about. It is important to actively connect with your support network at this time to discuss interests and ideas, which can assist in determining the next best step and path.
“Review the skills you have learnt and achievements you have earned in your previous role. This simple exercise can boost the confidence of jobseekers, particularly if they are feeling disconnected from their career.”
Deficit Impacts Business Confidence
“The soaring budget deficit will impact business confidence. Companies are looking for further investment, especially in infrastructure but, with a continual spiral south, will wonder where a fund injection can come from. Unfortunately, this could see jobs decline.
“The good news is that businesses have been riding the fluctuating budget wave since the GFC started. We have seen business confidence rise steadily over the course of the last few months. Economic indicators show that job ads have consistently increased, as well as employer optimism, as evidenced in the Randstad Mobility Index and through the work and job applications coming through Randstad’s doors. So although the budget deficit will impact business confidence, we believe they are now robust enough to avoid any drastic changes in employment.”