In the ever-evolving world of business, recruitment and talent retention have become critical challenges for small and medium enterprises (SMEs) in Geelong. Recent data shows a rise in job vacancies across Australia, as highlighted in a recent article from Small Business Connections, and these trends have direct implications for our local business community.
To provide further insight, I have collaborated with Maree Herath, Director of Harvest Talent Recruitment & People Solutions, to unpack the latest developments in our region’s recruitment market and explore how SMEs can navigate the challenges ahead.
A Shifting Employment Market
Over the past 12 months, SMEs in Geelong have experienced significant shifts in job vacancy trends. Businesses, especially start-ups and those in growth phases, are constantly searching for skilled workers. However, the “build for better” cycle – where SMEs train and develop employees who are later recruited by larger businesses – has placed increased strain on talent retention.
At the same time, our region is witnessing exciting opportunities within emerging markets. Growth in the insurance industry continues to fuel demand for professional services and disability support roles. Meanwhile, the construction and engineering sectors have flourished, with new companies establishing themselves or opening Geelong branches, often supported by Geelong Chamber to make an impact and launch their brand.
Regional tourism has also rebounded strongly, driven by major events, increasing interstate visitors via Avalon, and the continued success of the Spirit of Tasmania. This has significantly fuelled the need for more accommodation, hospitality, and tourism-related talent. In the healthcare sector, we’re seeing an influx of general practitioners and allied health professionals, which has led to the opening of new GP clinics, health hubs, and wellness businesses.
Challenges in Attracting and Retaining Talent
While the job market is active, SMEs in Geelong face several key challenges in attracting and retaining talent. As Maree Herath highlights, one of the biggest hurdles is competition with larger organisations that can offer more extensive benefits and career progression opportunities.
“Small businesses need to be creative,” Maree explains. “They need to consider their mission, values, and what makes them unique. SMEs may not always compete on salary, but they can offer flexible work arrangements, professional development, and a dynamic workplace culture that larger corporations often cannot match.”
Data from the Geelong HR Index reinforces this point. Many SMEs struggle with retention because employees are drawn to larger organisations offering structured career paths, additional benefits, and higher salaries. To combat this, smaller businesses should focus on building a strong employer brand that highlights workplace culture, career growth opportunities, and work-life balance.
The Impact of Rising Vacancies on SMEs
While vacancies are rising, we are still below the peak levels seen in 2022. However, SMEs are feeling the pressure of a tight labour market, particularly in sectors such as construction, healthcare, and tourism. With SME’s accounting for nearly 98% of all businesses in the region, squeezes on talent can have a lasting impact on small business operations and their ability maximise peak periods, or realise growth.
One positive development is the ongoing government support for skilled migration. Many migrants are seeking employment in regional areas like Geelong, providing SMEs with an opportunity to tap into a growing talent pool. Additionally, the region’s affordable housing compared to Melbourne is attracting young professionals, creating new opportunities for businesses looking to hire and grow their teams.
Understanding Changing Candidate Expectations
Workforce expectations are also evolving, and SMEs need to adapt. According to Maree Herath, candidates are increasingly interested in roles that offer variety and flexibility.
“Multifaceted roles that allow employees to engage in different aspects of a business are becoming more appealing,” she says. “Unlike previous generations who sought stability in a single role, today’s workforce is eager to develop diverse skill sets. SMEs are well-placed to offer these dynamic opportunities.”
By embracing flexible work arrangements, professional development initiatives, and strong workplace cultures, SMEs can better attract and retain top talent in a competitive job market.
A Positive Outlook for SMEs
While recruitment challenges remain, the future is bright for Geelong’s SMEs. Businesses that stay agile, leverage regional migration, and build strong workplace cultures will be best positioned to navigate the current economic cycle.
“If SMEs in can ride out the current economic cycle, the future looks promising,” Maree notes. “The key is to stick to core strengths while remaining open to diversification and adaptation based on market trends.”
At the Geelong Chamber of Commerce, we continue to advocate for and support local businesses in addressing their workforce challenges. By sharing insights and fostering collaboration, we can strengthen our region’s business community and drive sustainable growth.
If you’re an SME looking for support in recruitment and retention strategies, I encourage you to engage with local experts, attend industry events, and leverage our Chamber’s network.
For more information on the Geelong HR Index and Harvest Talent Recruitment & People Solutions please visit https://www.harvesthr.com.au/ or contact Maree Herath, Director – 0438 517 085.
