Nearly half of Australia’s mid-sized firms looking to hire more despite economic downturn, HiBob reveals

Mid-sized Australian organisations are showing immense resilience during the global economic downturn, with two in five currently looking to grow employee numbers, new research by HR tech leader HiBob finds. According to the new research report, nearly half (48%) of these organisations are looking to hire operations professionals, while a quarter (26%) are looking to bolster customer support teams, and a fifth (21%) are looking to hire more people in IT.

What were the findings of HiBob’s research?

The figures are a reflection of the confidence that mid-sized businesses across the country currently have when navigating the uncertain economic future ahead, with less than half (46%) saying that since the economic downturn, they’ve had to make cutbacks in investing in people, and less than half again (42%) expect to implement a hiring freeze soon.

These are some of the findings from HiBob’s Growing Pains report, which uncovers the impact of the global economic downturn on Human Resources (HR) professionals working in mid-sized organisations (companies employing between 100–2,500 people) in Australia.

The research report assesses how the current economic situation has affected these organisations’ ability to support employee wellbeing, ensure job security, maintain company culture, address the gender pay gap, and much more. The report also outlines what Human Resources teams are prioritising for the year ahead to navigate economic uncertainty.

However, the news comes off the back of research by the ABS, which finds that large and mid-sized organisations are struggling more than small businesses to find suitable staff.

What were HiBob’s thoughts on the research findings?

Damien Andreasen, Vice President for APAC and Japan at HiBob
Damien Andreasen, Vice President for APAC and Japan at HiBob

Damien Andreasen, VP for APAC and Japan, HiBob said: “Most people may assume that since the economic downturn, businesses have had to batten down the hatches to survive. And while that’s unfortunately the case for many, we’re seeing Australia’s mid-sized firms fighting back, and looking to grow despite the economic situation in which they find themselves.”

“But hiring is only part of the challenge. Onboarding has become much more difficult in this environment of uncertainty, and so engaging with new employees in a way that supports them from day one has become much more important. An effective onboarding process ensures that employees start adding value to the business quickly,” Damien Andreasen said.