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Australia – More than half of businesses restructuring to keep up with changing business needs: Hays

13 August 2019

More than half, or 54%, of Australian employers are currently restructuring their department or organisation to keep up with changing business needs, up from 52% last year, according to research from Hays Australia.

The research surveyed more than 3,400 organisations in Australia and found that 49% said the key driver of organisational restructures is a change in the required skill sets.

This is ahead of digital transformation (24%), the requirement for a more flexible workforce (also 24%), a merger or acquisition (18%), downsizing (13%), outsourcing (8%), offshoring (5%) or inshoring (2%).

According to Hays, other factors include rapid technological developments, such as AI and automation, which create a need for new capabilities, the requirement for additional expertise in response to outside factors, such as cybersecurity or risk & compliance, and the introduction of new and non-traditional executive roles.

“Restructures driven by a change in the required skill set are often the result of today’s growing trend of adopting cross functional operating models,” Nick Deligiannis, Managing Director of Hays in Australia & New Zealand, said. “Traditionally, an organisation consisted of functional departments, but given today’s pace of change, there’s a need to move toward matrix, cross-functional or hybrid structures to better enable collaboration and a customer-focused approach.”

“These restructures are a clear indication that the supply of professionals with the skills that employers need is tightening,” Deligiannis said. “With candidate shortages remaining problematic for organisations, hiring in for specific skills – both technical and soft – will therefore be a priority for change, growth and competitive advantage.”

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