WhatsNew2Day – Latest News And Breaking Headlines
Two-thirds of Australian businesses are willing to send jobs overseas to save costs, remittance comparison survey shows
<!–
<!–
<!– <!–
<!–
<!–
<!–
Australian companies struggling to find staff are sending jobs overseas to avoid paying higher wages locally during a cost of living crisis, a new survey has found.
A remittance comparison survey of business leaders found that more than two-thirds, or 68%, of small and medium-sized businesses would employ overseas-based staff.
The survey of 200 business leaders, caught in August, found a tight labor market to be the biggest hurdle with 21% say it was too difficult to find staff in Australia, with salaries rising at the fastest rate in more than a decade.
While artificial intelligence is still in its infancy, an additional 25% cited reducing costs and tax obligations as a reason for sending jobs overseas, compared to 14% who said they need the right skills and 8% who said they would consider the idea. .
Businesses suggested they were more likely to look overseas for technicians with specialist IT skills, with 21% citing this as a potential area for offshore outsourcing.
Australian companies struggling to find staff are sending jobs overseas to avoid paying higher wages locally during a cost of living crisis, a new survey has found (pictured Qantas plane taking off)
Consultants also topped the list with 18% of companies naming them, compared to 14% for administrative assistants, 13% who suggested accounting, 11% who named marketing and 10% who considered human resources. or payroll.
Australia’s unemployment rate of 3.5% is at its lowest level in 48 years.
Wages are also rising at the fastest rate since 2012 at 3.7%, with the Reserve Bank expecting a 4% growth rate next year for the first time since 2009.
In light of this, business leaders were asked if they would use offshore workers to relieve pressure on wage increases and a tight labor market.
Remittance Comparison spokesman Russell Gous said many companies would relocate jobs to avoid Australia’s high wages after 12 interest rate hikes since May 2022.
“While higher salaries may attract new employees, the additional costs may not be affordable for many small businesses and the demand for specific skills could also exceed supply,” he said.
“Searching for overseas labor and understanding how to pay for it as a cost-cutting and gap-filling measure could help businesses survive in these uncertain times.”
The survey’s sample size, however, of 200 people, is below the size of 1,000 that opinion pollsters believe is the minimum needed for a higher probability accurately reflecting the opinions of Australians.
Survey recipients included micro businesses with one to four employees, small businesses with five to 19 employees, and medium businesses with 20 to 199 employees.
The survey of 159 business leaders found a tight labor market the biggest obstacle, with 21 per cent saying it was too difficult to find staff in Australia, with wages rising at pace fastest in over a decade (photo is a stock image)
Alon Rajic, managing director of Finofin, the parent company of Money Transfer Comparison, commissioned a survey of 1,000 people in July for his Immigration to Australia website.
Its survey concluded that 50% of Australians between the ages of 18 and 34 favored higher immigration.
Even with wages up 3.7%, the cost of living for employees is rising 9.6%, well above the inflation rate of 6%.
This means that those who are employed suffer a 5.9% reduction in inflation-adjusted real wages.
Shock new figures show two-thirds of businesses now want to send jobs offshore