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When things went viral: One year on from the 2020 Australian Grand Prix

Exactly one year ago to the day, Covid got real for me. I was attending a Formula 1 Grand Prix breakfast at Albert Park when the shock announcement was made: the race had been cancelled. We filed dumbstruck out of the function, directed into busses that were waiting to remove us from the venue. It was a surreal experience as we made our way back past angry fans who were being turned away at the gates. No doubt they (like myself) hadn’t fully grasped the enormity of worldwide events that were unfolding beyond the boundaries of Melbourne and the F1 GP.

I sympathise with everyone who has suffered through the pandemic, especially those who have lost loved ones. Now I find myself reflecting on the craziest twelve months of my life (so far, and hopefully for the rest of it).

We all remember talk of a new virus in Wuhan, but some of the more naïve of us (i.e., me) didn’t believe for a second that it could, and would, affect everything about life as we knew it.

There is so much of the last year that has caused copious suffering and pain, but through it all there have been things that I have been very grateful for. So, without further ado, here is my silver lining to the year that was cancelled.

Although many of us haven’t been able to visit or see family or friend’s interstate or abroad, I am reminded of how much I depend on those relationships, and how many special people I have in my life. I live in a fantastic country filled with resilience, tolerance and a real ‘can do’ attitude. Through hard work and a tough response to the outbreak, we have largely been spared what many of our loved ones outside of Australia have had to endure. I have been very fortunate to work for an outstanding organisation that has been supportive throughout (and we all know that we remember how we are treated during tough times). I have also learnt that it is critical to work with people whose values you align with. Those relationships with clients, candidates and colleagues have been so encouraging, and even though many of them have been hurt, we have still been there for each other and look forward to better times ahead.

There is also a lot to be said for the recruitment market during this time, and what we envisage ahead. From my perspective, it has been highly segmented with many parts of the economy flourishing. Innovation has been impressive, as has our ability to adapt to changing market conditions. Recovery seems to be trending much faster than expected, and we are seeing a lot of positive sentiment. Hiring certainly has increased, with Medical Technology/Advanced Manufacturing, FMCG, and anything to do with home improvement and maintenance leading the field.

What are the big issues for the year ahead? Firstly, workplace flexibility, and whether employers need (or can get) their people back into offices full-time. We are certainly seeing a large number of employers starting to request staff back in the office full-time. Secondly, stronger loyalty to current employers has developed in Covid times, so it may be a while longer before we see a growing trend in people seeking new opportunities. Finally, in the discussions I’m having with candidates, many feel that they’ve been poorly treated by employers. Those who remained in roles due to the uncertainty of changing jobs during a recession are certain to become a flight risk as the market warms up.

Without a doubt, the war for talent will be back. Now is absolutely the time to ensure that you stay ahead of the curve when it comes to talent attraction. We are already seeing a significant number of counteroffers as organisations try to retain their best people. However, as you know, by the time it gets to that, it is often too late.

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Posted in Accounting & Finance, The world @work