The Frazer Jones Australia remuneration and hiring trends look at the Australian Human Resources jobs market by tracking time to hire and salary movements across the months. We are pleased to present our insights for Q3 2023.
The 2023 year-to-date salary movement trend has averaged out to 14% for roles across the board in the People & Culture/HR sector. In terms of the permanent market, it has been closer to 10% with the biggest increases at the junior to mid-level. Looking at the last 3 months, the senior market bucked the trend with an increase of around 20% where it had been tracking around 0%. This was down to timing on some senior hires that had been in process for quite some time and salary pressures to secure the right talent. However, we haven’t seen the same uptick in contract or interim opportunities that we expected through this quarter with budgets tightening we are seeing businesses opting to absorb any extra projects or cover colleagues leave internally.
Time to hire has also blown out in the last 3 months. The average time to hire across all job types is around 5 weeks and for permanent it has gone from 8 weeks to 11 weeks. With the start of the busy hiring period, October and November, and organisations trying to ensure that processes are closed off before we head into the Christmas summer break, we anticipate that these time frames will start to reduce. Time to hire for fixed-term contracts is currently at 1.5 to 3 weeks, which is an improvement from the 5 weeks we had been seeing for fixed-term contracts throughout the year. Day rate/hourly rate hiring remains steady at 2 to 3 weeks.