How Global Hiring Drives Australia’s Competitive Edge

Australia achieved its highest position in 13 years, ranking 13th in the World Competitiveness Ranking by the International Institute for Management Development (IMD). This improvement is due to a stable economy, transparent regulations, and strong global business connections that create a secure environment for investors.

To maintain this progress, Australia needs to support business transformation, address declining local labor productivity, help workers acquire new skills, and adopt advanced technologies like artificial intelligence (AI). According to Google, AI could contribute $280 billion in economic, cyber, and environmental benefits to Australia by 2030.

The local AI talent gap

Australia’s strategic investments in AI and supportive government policies are hindered by a shortage of local tech talent. According to Deel’s recent Business Leader Pulse Check report, over half (57%) of business leaders find it difficult to recruit qualified AI professionals in the local market.

Furthermore, 93% of Australian businesses anticipate increased demand for AI skills in the coming years. Globally, hiring for AI, software engineering, and data science roles has risen 59%.

See also: APAC’s Business Leader Pulse Check: Workforce and Hiring Report

Embrace the global talent pool

To address the talent shortage, Australia hopes to leverage global talent to enhance AI innovations and maintain its competitive edge.

By looking beyond its borders, Australian organizations can access a wider pool of candidates with specialized skills. Encouragingly, 89% of organizations are open to international recruitment, and 67% already employ team members from abroad, Deel data reveals.

Hiring globally not only simplifies the search for skilled workers but also facilitates knowledge transfer among employees. According to Deel’s report, 59% of Australian companies see the value in attracting top talent.

Global talent brings diverse experiences and perspectives, aiding in the reskilling and upskilling of the local workforce. This ensures employees are equipped to succeed in the digital economy and can contribute to Australia’s growth.

Hire global talent with Deel

Talent is abundant across the globe, and companies are becoming increasingly aware of this fact.

With the rise of remote work and advancements in technology, highly skilled professionals are no longer limited by geographical boundaries. Australia, in particular, is emerging as an appealing destination for talent from New Zealand, Hong Kong, Vietnam, and India, as highlighted by Deel’s data.

Moreover, innovative solutions like Deel’s global hiring platform enable organizations of all sizes to hire, compensate, and manage top talent seamlessly.

With Deel’s all-in-one platform, you can:

• Pay anyone, anywhere, in minutes
• Expand your team and hire globally
• Consolidate your HR operations
• Simplify, speed up, and scale global IT operations
• Set your team up for success with performance tools
• Attract and retain talent with immigration support

Sound like the ideal solution? Book 30 minutes with a product expert to get your questions answered.