“Heavy reliance on external employee sourcing initiatives will be required over the next decade to facilitate the industry growth we are set to experience.” 2017 Aged Care Census.
Currently market size - 370,000 employees.
Largest growth sector within the Australian services industry for the next two decades.
Double by 2025.
Triple by 2035.
Quadruple by 2045.
400% industry growth within 30 years.
Employee satisfaction ratings are below 50%.
Half the care staff wish to exit the industry within five years.
Industry churn rate is currently at 30% (projected to hit as high as 60% in 2018).
40% of the workforce is over 55 – and increasing.
Total costs (indirect and direct) for loss of staff, an all-time high (47%-213%).
Average middle management tenure is lowest it has ever been – 14 months.
Time to fill roles has almost doubled in three years.
Despite this, facilities are being asked to source talent that matches the premium offering residents are now requesting underneath the tiered care packages within CDC. All the while the Aged Care industry is recruiting from one of the shallowest talent pools within the Australian services industry. A pool that is decreasing in size by 7% annually and that will require an additional 40,000 job next year, 120,000 additional jobs in five years.