The ABS has reported the unemployment rate for September at 5.5 %, down from 5.6% in August.
The good news is this is the lowest rate in four years. NSW is showing promising economic growth, ranking the highest on a range of economic indicators used to measure economic performance. With a jobless rate of only 4.6%, the state currently has the strongest job market in the nation, with Victoria a close second.
National account manager (NAM) salaries on the rise.
We have seen a spike in NAM salaries by about 25% in the past 2 years. This is being fuelled by an increased demand and lack of available talent. Due to this, organisations are starting to target category managers to place in a NAMs role. Generally, they bring a more strategic mindset and customer focus, however, come with a hefty salary.
Evolution of territory managers roles.
Over the last three years, we have seen an evolution of the territory manager role. With the rise of automation and third-party merchandisers, we are seeing the talent pool of territory managers divide into two subsets. The first, which we have labelled ‘territory manager rocks’, come with solid experience but don’t necessarily have that desire to climb the corporate ladder. These candidates are often taken in by third party merchandisers. The second we have labelled ‘territory manager risers’, who have a good understanding of their brands, are inquisitive, understand category and nail the customer experience. We are finding the ‘risers’ are in high demand and are often being developed for long-term career growth.
Logistics becomes more integrated into other organisational functions.
Logistics has traditionally been a relatively isolated business function; however, this shift is becoming a key mandate for many large organisations and one of the main reasons why businesses are moving to an in-house model. Due to this, businesses are looking for well-rounded logistics professionals with strong operational experience, ideally with exposure to other areas of supply chain such as sales and operations planning, procurement and transport.
Traditional marketers upskill.
Marketers are still having to upskill in digital technologies and skills to meet the demand of organisations. Marketing talent currently in high demand are data-driven marketers, with strong stakeholder influencing skills and who can demonstrate commercial acumen. However, traditional marketers are at a disadvantage against digital-native candidates, as they have a great depth of digital knowledge.
A spike in procurement recruitment in FMCG.
There is high competition for top procurement professionals. At leadership level, there continues to be procurement transformation. Our clients are seeking leaders with strong commercial thinking to develop existing supplier relationships and increase levels of supplier collaboration, and the ability to develop and execute strategic direction to drive accountability, change and procurement excellence.