Connect with us
https://tickernews.co/wp-content/uploads/2023/10/AmEx-Thought-Leaders.jpg

Money

Employers becoming more cautious after ‘frenzied’ hiring period

Published

on

Talent’s latest report, the ‘More Than Money Salary Guide 2024,’ has unveiled a landscape oscillating between a frenzied pursuit of candidates and a more cautious stance from employers.

Released today, the report delves into the Australian job market, shedding light on pivotal salaries, sought-after roles, and burgeoning skills.

Tech and digital sectors, the cornerstone of contemporary industry, witness a steady stabilisation in salaries.

However, the allure remains potent for specialised skill sets, notably in cybersecurity and artificial intelligence.

The jobs paying six figure salaries

With a detailed breakdown of salaries and contract rates for key tech positions in 2024, the report serves as a compass for both employers and job seekers navigating the tumultuous currents of the hiring sphere.

Hiring trends

Drawing upon insights from Talent’s Managing Director team and seasoned recruiters, the report dissects hiring trends and forecasts spanning across ANZ and the US.

Revelations extend beyond mere numbers, encompassing profound observations on the evolving tech talent pool, emerging skill trends, and the nuanced preferences of diverse generations in the workforce.

Key highlights from the report illuminate the transformative shifts underway:

– Salaries across Cybersecurity, Sales & Account Services, Data Analytics, and Development roles have surged by up to 35% since 2023.
– Contract rates exhibit a robust growth trajectory, escalating between 10-30% for roles in Cybersecurity, Data Analytics, Cloud Solutions, and Infrastructure.
– A stark downturn is noted in federal and state government contract hiring, plummeting by 16% due to layoffs and hiring freezes.
– The trend of offshoring among large corporations witnesses a significant uptick, soaring by an estimated 10-40%.
– Demand for Project Services talent witnesses a decline as companies opt to halt large-scale projects to mitigate costs.

Work flexibility

In a paradigm-shifting revelation, Talent’s poll underscores the paramount importance of work flexibility in the eyes of job seekers.

Surpassing the allure of competitive salaries, 35% of respondents prioritize flexibility, followed closely by 29% emphasizing salary.

Remote work emerges as the cornerstone of flexible work arrangements, resonating with 78% of respondents. Flexible hours, compressed work weeks, and job-sharing arrangements also garner recognition but to a lesser extent.

The report underscores the persistent demand for key skills including Artificial Intelligence, Cybersecurity, Data Analysis, Cloud Computing, and Software Development, reflecting the enduring relevance of these domains in the digital landscape.

As the hiring market continues to navigate through unprecedented shifts, Talent’s ‘More Than Money Salary Guide 2024’ stands as a beacon, offering invaluable insights to stakeholders braving the winds of change in pursuit of talent and opportunity.

Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

Continue Reading

Money

Brad Banducci quits as Woolworths Australia CEO after TV blow-up

Published

on

Woolworths CEO Brad Banducci has revealed his decision to step down from his position, with Amanda Bardwell, head of loyalty and e-commerce, slated to succeed him as chief executive in September.

Bardwell’s appointment marks a historic moment as she becomes the first woman to lead the company in its nearly 100-year history.

Banducci’s departure comes at a critical juncture for Woolworths and its competitor, Coles, as they brace for an upcoming Senate inquiry led by the Greens.

The inquiry, scheduled for next month, is expected to scrutinise higher grocery costs, which Canberra has blamed for inflating supermarket profit margins at the expense of consumers.

Supermarket investigation

In addition to the Senate inquiry, Labor has urged the competition regulator to investigate the supermarkets, with Prime Minister Anthony Albanese suggesting potential abuse of market power by the retailers.

Woolworths chairman Scott Perkins clarified that Banducci’s succession timeline was not accelerated in response to the scrutiny faced by the supermarket industry.

Perkins stated that interviews with potential candidates for the CEO position had been ongoing since the latter half of the previous year.

“There has been an ongoing dialogue with Brad,” Perkins told media. “There was no change to the timetable, no expedition at all.”

Importance of authenticity

Banducci acknowledged that he had considered delaying his departure but ultimately decided against it, citing the importance of authenticity. Despite the challenges facing the industry, he expressed confidence in Bardwell’s ability to lead Woolworths into the future.

Analysts reacted to the news with a mix of surprise and caution.

In financial terms, Woolworths’ food retail division reported a 5.2 percent increase in sales, or 6.6 percent excluding tobacco.

However, the company noted a moderation in prices, with average increases of 1.3 percent in the last three months of 2023.

Despite this, margins continued to improve, and earnings for the division rose by 8.2 percent.

Continue Reading

Money

Walmart reports holiday sales as shoppers seek better value

Published

on

Walmart disclosed its fourth-quarter earnings showcasing a surge in sales during the holiday season, offering early insights into consumer spending trends amid a crucial period.

Despite a challenging economic climate, Walmart reported a 4 percent increase in comparable store sales for the three months ending in late January compared to the previous year.

The number of transactions also saw a notable uptick, rising by 4.3 percent. However, there was a slight decline of 0.3 percent in the average ticket price, indicating a tendency among shoppers to spend marginally less during their shopping trips.

The retail behemoth witnessed a significant boost in its online sales, with a 17 percent increase in the U.S. market and a remarkable 23 percent surge globally, surpassing the $100 billion mark. Walmart’s Chief Financial Officer, John David Rainey, attributed this growth partly to cost-saving measures in their e-commerce operations and the rising adoption of Walmart’s delivery services.

Discretionary purchases

While the e-commerce sector saw substantial gains, there was a noted decrease in discretionary purchases such as electronics, as consumers prioritized essential items amidst economic uncertainties.

Walmart’s emphasis on value and affordability played a pivotal role in driving sales, particularly in its grocery segment.

The company’s CEO, Doug McMillon, highlighted Walmart’s commitment to offering competitive prices, leveraging its substantial grocery business.

In a strategic move to enhance its offerings, Walmart announced the acquisition of television manufacturer Vizio in a deal worth $2.3 billion, further expanding its Walmart Connect advertising and media business.

Continue Reading

Money

Millions of Australians are struggling with credit card repayments

Published

on

Recent research has revealed a concerning trend: a significant number of Australians are falling behind on their credit card repayments, highlighting the financial strain faced by many households.

According to Finder’s Credit Card Report 2024, approximately 13% of Australian credit card holders, equivalent to nearly 1.8 million individuals, have missed at least one repayment in the past three months.

Of this group, 8% have fallen behind by 30 days, while 4% have missed payments by 60 days.

Read more – Is Paypal bringing back old school credit cards?

Alarmingly, 2% of cardholders have delayed repayments by more than 60 days.

Prevalent misuse

Amy Bradney-George, a credit card expert at Finder, expressed concern over the prevalent misuse of credit cards, attributing it partly to the escalating cost of living.

Bradney-George warned that missing a credit card payment often incurs late fees and interest charges, exacerbating financial burdens for individuals.

Bradney-George emphasised the detrimental impact of late payments on credit scores.

She highlighted that a missed payment can be recorded on a credit file within just 14 days, potentially affecting an individual’s ability to secure loans or new credit cards in the future.

With details of late payments lingering on credit reports for up to two years, the consequences could be long-lasting.

Currently, there are over 13 million credit cards in circulation across Australia, accumulating a national debt of $18.1 billion subject to interest charges.

Continue Reading
Live Watch Ticker News Live
Advertisement

Trending Now

Copyright © 2023 The Ticker Company