The Australian superannuation industry should defy current market volatility and emerge as one of the nation’s employment growth areas, according to specialist recruitment business, SUPER Recruiters.
The company has pointed to a recent industry survey that revealed around 50 per cent of respondents said they expected to employ more people this year compared to last year.
The survey, conducted by both SUPER Recruiters and Riskwise Professionals found that, by contrast, fewer than a quarter of those surveyed expected to reduce headcount.
Commenting on the results, SUPER Recruiters founder, Guy McKanna said around a quarter of respondents were uncertain about their hiring prospects.
He said respondents suggested that identifying appropriate candidates represented significant challenge, particularly finding the right cultural fit.
McKanna said that the survey had also identified that respondents had noted the degree to which employees had become resistant to changes with technology as a challenge.
Jim Chalmers has defended changes to the Future Fund’s mandate, referring to himself as a “big supporter” of the sovereign wealth fund, amid fierce opposition from the Coalition, which has pledged to reverse any changes if it wins next year’s election.
In a new review of the country’s largest fund, a research house says it’s well placed to deliver attractive returns despite challenges.
Chant West analysis suggests super could be well placed to deliver a double-digit result by the end of the calendar year.
Specific valuation decisions made by the $88 billion fund at the beginning of the pandemic were “not adequate for the deteriorating market conditions”, according to the prudential regulator.