Since the beginning of 2021, many firms have been faced with problems stemming from what has been called “The Great Resignation.” As the labour market has tightened, many employees are emerging from the insecurity of 2020 and finding confidence to seek better employment conditions elsewhere.
Due to rolling lockdowns and extended periods of uncertainty, Australia has experienced this exodus of workers later than in other countries. Now it is in full swing with nearly 50% of Australian workers considering a new job in the next 12 months. This comes after 780,000 Australians lost their job in the first few months of 2020. Two years on, the labour market has skewed heavily in favour of employees, leading to new opportunities for those looking for a change.
Against this backdrop, many companies are struggling to retain their current employees and replace them effectively. Employees are on the move looking for higher pay, status, and responsibilities as well as lifestyle adjustments. For a firm looking to hire new talent, this is a time of unique opportunity as many people are proactively seeking new opportunities. It can also be a stressful time for business owners, as the recruitment fees associated with finding the right talent can place increased pressure on their cashflow.
SmartFee now funds recruitment fees for accounting and law firms in order to help business owners focus on finding the right talent for the job. If you are looking to recruit, or if you have used a recruitment firm to hire new staff within the last three months, SmartFee can help.
Once you have hired the new employee, SmartFee can help you work out a repayment plan from three to twelve months. We make it simple and affordable for you to pay your recruitment fees over a period of time that suits you best.
This frees up your cash flow allowing you to invest those funds in other parts of your business. Maintaining positive cash flow is essential to any business Speak to SmartFee about your recruitment fees today.