Figures from Australia’s largest annual agribusiness specific human resources survey, the Agribusiness HR Review, have revealed agribusiness positions have continued their strong demand across the employment sector.
Data from Rimfire Resources’ Agribusiness Salary Review which collates salary data from agribusinesses nationally on a monthly basis, backs up the findings from the annual HR Review, reporting an average base salary increase, across all roles, of 4% in the 12 months to June 30 2015 (based on over 170 positions benchmarked across 16 industry sectors).
According to the results, almost 84 per cent of organisations participating in the HR Review reported an increase in salaries for the year, with more than 92.5 per cent predicting further increases within the next 12 months. Yearly salary increases are now above CPI and significantly higher compared to the previous year, with salary increases trending upwards and the demand for skilled workers remaining strong.
Now in its 13th year, Rimfire Resources’ Agribusiness HR Review surveys human resource (HR) professionals and general managers in agribusiness, to evaluate remuneration and employment trends.
Managing Director Mick Hay points out that “There is often a lot of speculation amongst industry and employees, and also plenty of experts prepared to offer anecdotal evidence on what is happening within the Agribusiness sector, from a remuneration and benefits perspective. But if you want to know what is actually happening, and with thirteen years of data to provide trends and detailed analysis, then the Rimfire Resources’ HR Review is the only survey worth reading – because it’s the only survey that actually has “real” data directly from the industry”.
“Remuneration is just one consideration factor when retaining and recruiting staff, and there is no excuse for not knowing the market as the actual market data is available to keep you aware of what is happening, specifically within your sector”.
Mick highlighted that “In the past two years, annual agribusiness salaries have increased at close to double the rate of CPI. The 2015 results demonstrate that salary increases have continued to outpace CPI, and the sector continues to grow, which is great news for all current and prospective agribusiness professionals, and particularly for graduates entering the sector”.
Further analysis revealed almost 67% of organisations had attrition rates of less than 10% and just over 40% of organisations expect to enlarge their workforce within the next 12 months.
Succession planning is the predominant factor driving the employment of graduates and with institutions such as Melbourne University seeing increases of over 60% in their Agriculture degree enrolments this year, (and with many other universities also experiencing increased enrolments in agricultural related studies), students are voting with their feet and showing their confidence in the future of the industry.
Mick also noted that ”These latest results are in stark contrast to a shrinking mining industry, typically looked upon to be the mecca for many job seekers. The survey also indicated that 18% of participants have hired employees with previous Agribusiness experience, who are now returning to Agribusiness from the resources’ sector which is also an exciting trend to see.”
Rimfire Resources’ Agribusiness HR Review provides companies operating across the agribusiness sector with specific trends to assist them in developing and implementing competitive remuneration and HR policies. The Review complements Rimfire Resources’ well-known Agribusiness Salary Review, which collates salary data (from payroll data) from agribusinesses nationally, on an ongoing basis.
HR Review topics covered include agribusiness sector-specific benefits packaging information, salary reviews, human resource management practices, performance management schemes and recruitment practices.