Skilled migration and employee share schemes are key to solving the skills shortage, say company directors who warn it has become the biggest problem for business.
Skilled migration and employee share schemes will be key to solving the skills shortage, say company directors who warn it has become the biggest problem for business by far ahead of theTransurban director and former CEO of MLC Peter Scott is among 80 per cent of top directors who warn attracting and retaining skilled labour has become the top concern for business, according to directors surveyed by law firm KingAn airport jobs fair at the Sydney International Airport Terminal in June.
A worker on top of the elevated road that will connect Melbourne’s west to the CBD is among the major projects over time and over budget with much more to come.The skills shortage did not feature in the list of top concerns in previous years of the KWM survey but in a sign of the emergence of the problem, the directors nominated challenges from wider labour markets constraints and skills shortages as the second-biggest issue of concern for boards, nominated by 52.3 per cent of directors.
“The system is weighted too much to short-term, temporary migration, those two-year visas. You are not going to up and leave your country and family for two years. And of course there are some real problems with processing visas at the moment.” ”Unfortunately, Australia’s brand has been damaged due to the COVID lockdowns from the past two years, and we’re struggling to complete globally for foreign workers, who no longer see us as an attractive option to live and work.“Mr Scott said the skills shortage was also forcing a rethink on remuneration with many boards considering the use of employee share schemes to encourage workers to invest in the long-term success of a business, to avoid an arm’s race on wages.
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