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Engineers and the recession - Vacancies and skilled people without jobs - why?
14 August 2009
Finding ourselves in the middle of a recession, there seems to be conflicting views on the employment outlook in general and for engineers in particular. One of J.D. Roth's articles on his website getrichslowly.org, cites Peter Schiff's book, "The Little Book of Bull Moves in Bear Markets", when it looks at the best recession-proof jobs. According to Schiff, Engineering and construction are among the ten strongest professions and industries in America in the coming decade and beyond.
According to a finance blog on mint.com, the next decade should produce a large number of jobs in all fields relating to green energy and the fight against global warming. Jobfox lists mechanical engineering and electrical engineers amongst the twenty most recession-proof jobs, and much of this growth will be in the area of green engineering, the article states.
It might therefore come as a surprise that Manpower Australia's recent results of its fourth annual talent shortage survey reveals that 49% of employers in Australia are continuing to struggle to fill positions available despite the economic crisis. Employers having the most difficulty finding the right talent to fill the jobs in the Asia Pacific region are those in Taiwan (62%), Japan (55%), Australia (49%) and New Zealand (39%).
"Despite high levels of unemployment in many markets, this year's talent survey suggests a mismatch between the type of individuals available for work and the specific skills that employers are looking for," says Lincoln Crawley, Managing Director at Manpower Australia and New Zealand. He explains that companies are pressured to shift their mindset to think more strategically and creatively about how they can do more with less. The same approach is being applied to how they manage their talent.
"Employers are looking for ways to accelerate their business strategy with less people. It's this specificity of skills required in the individuals that employers are now seeking that is creating a sense of talent shortage amidst an overabundant pool of available workers," Crawley says. This seems to indicate a need for job seeking candidates to recognise changing skill requirements in their profession and industry, and on the other hand for better employer branding and talent management within organisations.
Healthy prospects
Manpower's report states that skilled manual trades and engineers are in the top three jobs that employers are having difficulty filling in Australia in 2009. Crawley explains that the current economic downturn is masking mega trends such as demographic shifts and underlying talent shortages that are impacting the way companies and individuals view work around the world. "This downturn signifies how an agile workforce strategy is required to attract and retain the talent a company needs in order to achieve its business strategy."
Global Talent Crunch, a white paper also recently released by Manpower, stresses the importance of moving away from a one-size-fits-all talent management strategy and building a strong brand as an employer. Accurately reflecting what it is like to work in the organisation will help employers attract and retain the best talent, better enabling them to win during these tough times.
Professional Engineering Magazine (profeng.com) even suggests that despite the recession, now might be the best time to start a new high-tech business. This is according to research by Cambridge University's Institute for Manufacturing. The research looked at "Cambridge cluster" technology and engineering firms that were founded during the last recession in 1992 and compared its survival rates with similar companies established during the better times of the 1990s. The study found that high-tech firms were more successful when set up during an economic downturn, suggesting that one reason for the difference may be that only firms with good prospects were founded in recession.
J.D. Roth draws the conclusion that nobody can agree on which jobs are best for riding out a recession and that everyone has a different methodology to predict the future and comes to a different conclusion. "I believe that in general, the most recession-proof job is the one you already have. If your current career is fulfilling and pays well, then do what you can to make yourself indispensable. Develop your skill-set. Be a valuable contributor. Keep a positive attitude. Network your way to job security. These things won't help if your company undergoes massive lay-offs, but they will protect you from casual culling."
According to recently published statistics on joboutlook.gov.au, job prospects for engineering professionals can be summarised as follows:
According to a finance blog on mint.com, the next decade should produce a large number of jobs in all fields relating to green energy and the fight against global warming. Jobfox lists mechanical engineering and electrical engineers amongst the twenty most recession-proof jobs, and much of this growth will be in the area of green engineering, the article states.
It might therefore come as a surprise that Manpower Australia's recent results of its fourth annual talent shortage survey reveals that 49% of employers in Australia are continuing to struggle to fill positions available despite the economic crisis. Employers having the most difficulty finding the right talent to fill the jobs in the Asia Pacific region are those in Taiwan (62%), Japan (55%), Australia (49%) and New Zealand (39%).
"Despite high levels of unemployment in many markets, this year's talent survey suggests a mismatch between the type of individuals available for work and the specific skills that employers are looking for," says Lincoln Crawley, Managing Director at Manpower Australia and New Zealand. He explains that companies are pressured to shift their mindset to think more strategically and creatively about how they can do more with less. The same approach is being applied to how they manage their talent.
"Employers are looking for ways to accelerate their business strategy with less people. It's this specificity of skills required in the individuals that employers are now seeking that is creating a sense of talent shortage amidst an overabundant pool of available workers," Crawley says. This seems to indicate a need for job seeking candidates to recognise changing skill requirements in their profession and industry, and on the other hand for better employer branding and talent management within organisations.
Healthy prospects
Manpower's report states that skilled manual trades and engineers are in the top three jobs that employers are having difficulty filling in Australia in 2009. Crawley explains that the current economic downturn is masking mega trends such as demographic shifts and underlying talent shortages that are impacting the way companies and individuals view work around the world. "This downturn signifies how an agile workforce strategy is required to attract and retain the talent a company needs in order to achieve its business strategy."
Global Talent Crunch, a white paper also recently released by Manpower, stresses the importance of moving away from a one-size-fits-all talent management strategy and building a strong brand as an employer. Accurately reflecting what it is like to work in the organisation will help employers attract and retain the best talent, better enabling them to win during these tough times.
Professional Engineering Magazine (profeng.com) even suggests that despite the recession, now might be the best time to start a new high-tech business. This is according to research by Cambridge University's Institute for Manufacturing. The research looked at "Cambridge cluster" technology and engineering firms that were founded during the last recession in 1992 and compared its survival rates with similar companies established during the better times of the 1990s. The study found that high-tech firms were more successful when set up during an economic downturn, suggesting that one reason for the difference may be that only firms with good prospects were founded in recession.
J.D. Roth draws the conclusion that nobody can agree on which jobs are best for riding out a recession and that everyone has a different methodology to predict the future and comes to a different conclusion. "I believe that in general, the most recession-proof job is the one you already have. If your current career is fulfilling and pays well, then do what you can to make yourself indispensable. Develop your skill-set. Be a valuable contributor. Keep a positive attitude. Network your way to job security. These things won't help if your company undergoes massive lay-offs, but they will protect you from casual culling."
According to recently published statistics on joboutlook.gov.au, job prospects for engineering professionals can be summarised as follows:
Civil: 93% have full-time jobs; Employment expected to grow slightly
Chemical and Materials: 94% have full-time jobs; Employment growth expected to be slight.
Electrical: 94% have full-time jobs; Employment growth expected to be moderate.
Electronic: 89% have full-time jobs; Employment growth expected to be moderate.
Mining: 97% have full-time jobs; Employment growth expected to be strong.
Industrial, Mechanical and Production: 94% have full-time jobs; Employment growth expected to decline.
Other: 94% have full-time jobs; Employment growth expected to grow slightly.
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