… at a glance:
Quinquennial. Something that happens every five years. In the UK, the Church of England requires each church building to be inspected by a suitably experienced and qualified professional, appointed after consultation with the Diocesan Advisory Committee. Here in Australia, the Census happens every five years. It is the official count of our population and provides a snapshot of who we are and how we are changing.
Key statistics from the 2021 Australian Census show that there are 5.5m couple families and 1m lone parents. There are 2.6m couples without children, 8.7m married people, 2.1m in a de facto relationship and 7.8m people not married.
Australia has as many Millennials (born 1981 and 1996) as Boomers (born 1946 and 1964). Both demographic groups have 5.4m people however the number of boomers decreased from the last census in 2016. Their numbers have dropped from making up nearly 40 per cent of all Australians back in 1966.
We are a nation with a migrant majority. Over 50% of residents were either born overseas or have a parent born overseas. The top three countries of birth are Australia, England and India (with India moving up from 6th to bump China and New Zealand since the previous census).
What does this mean for your business?
It means we have baby boomers (for the most part) in today’s corporate leadership positions. Over their decades in the workforce, they have worked up through the ranks. Boomers are generally accustomed to taking instruction, being influenced by experts, and having a structured learning style. In their leadership roles, they have a directive style. Millennials are a different breed (and we will not even go into the Gen X‑ers squashed between these two large cohorts). Millennials want to collaborate, they learn in different ways and are influenced by digital forums. They want to be empowered, not dictated to. So this impacts the leadership approach within your business.
Being such a culturally diverse nation means your employees, clients, suppliers, and stakeholders will also reflect this diversity. Being aware and inclusive is the new style.
Health-wise, 8m Australians reported a long-term health condition, of which asthma and arthritis were the most common. 2.2m Australians reported a mental health condition, with the most common mental health issues being anxiety and depression. This means we need flexibility and empathy. If the global pandemic taught us anything, it was that we could be incredibly flexible and empathetic when the going gets tough, so Australia has a solid baseline to work from.
Amongst all of this, we have a skills shortage that puts the power back in the employees’ hands in a very real way. As the peak employer body in South Australia, we hear that people do not want ‘just a job’. They want more than that. People are after a purposeful, meaningful role that gets them out of bed even on the most challenging days. Nowadays, it is so much more than the pay and business owners need to get a handle on this quickly before it is too late.
So how do you attract and retain the best? … Our Business Adviser, Tim Lavis, recommends developing an Employee Value Proposition. It will help a business to understand what they are offering future employees. When a business gains clarity on these six key areas, it can make it easier to create market attraction of the right people across a range of ages, cultures and family types:
