It was recently reporting that the CEO’s of Australia’s biggest companies are struggling to hire IT specialists, engineers and teachers because of locked borders and skills shortages. At the same time, the 260,000 shortfall in overseas students who have failed to arrive due to locked borders has led to falls in rentals for student accommodation of up to 25 percent in some areas.
Wesfarmers CEO Rob Scott said they are starting to suffer from the lack of skilled migration in some of these areas with technology and engineering development skills are two areas where Australia has really benefitted from skilled migration.
Interestingly ELMO Software CEO said border closures had made it harder to hire software engineers and the group was using its investment in offshore software development firm Hero Brands to reduce the skills shortages. In December 2019 Sydney HR and payroll SaaS vendor Elmo Software acquired a major stake in Melbourne-based software development house Hero Brands. Hero Brands is a software development house headquartered in Melbourne with offshore operations based in Eastern Europe.
Super Retail group CEO said skills shortages were eased by remote working, and people can sit wherever they like, and we are good for that. While the war for talent has never been so acute, the portability for that talent has never been more optimal.
Many CEO’s of larger firms are looking offshore for resources to assist with the covid restrictions on skills shortages. With businesses that are fully digital, people can work from wherever they like, and talent can be sourced as easily from overseas as anywhere else. It’s a matter of finding the right skilled partner with sufficient ad-hoc capacity for your firm.
If you’d like to chat more about how Odyssey can assist with your offshore ad-hoc accounting bookkeeping, accounting and tax preparation work then drop us a line.