The only certainty is uncertainty

It's the end of the 2023 financial year, and the industry as a whole has faced many different challenges from 2022. I can't believe it has been 12 months since the beginning of the financial year.

The changes that were initiated this year have been widespread, mainly due to the uncertainty caused by government transitions and proposed legislative amendments. APSCo has been actively collaborating with our lobbying partners and directly engaging with ministers to represent the voice of the association and the broader recruitment community. Although this endeavor has presented its fair share of challenges, we have achieved some successes and started the pathway of building relationships with the current government We eagerly anticipate more accomplishments in the upcoming year.

Global interest rates, as well as local interest rates in Australia, have also posed challenges for our businesses. Conversations with our members have indicated that rising interest rates have had a notable impact on the overall economy. We have observed this effect across various sectors, particularly in margin pressure and the impact on permanent salaries While the pressure has eased compared to the highs of 2022, some correction has transpired throughout the 2023 financial year due to interest rate fluctuations

From APSCo's perspective, it has been a fruitful year in terms of organizing events Our Gala Dinner in Melbourne was a resounding success, receiving overwhelmingly positive feedback from attendees. Additionally, the conference held in Sydney was widely acclaimed, garnering excellent feedback. As we enter another phase of the economic cycle, we acknowledge that 2024 will present its own set of challenges.

My business celebrated its 20th anniversary in this financial year and one thing I have learnt is that even when you think you have faced every conceivable challenge, a new one will pop up which you could never expect.

I would like to remind all our members that the only certainty is uncertainty, and that change is inevitable Therefore, it is crucial to maintain strong fundamentals in our business and not be too quick to make radical decisions Things are changing in the way we work, we must evolve and adapt, 2023 has proven that again although maybe not as much as 21-22!

Wishing you all a successful end to the 2023 financial year.

STEVE SMITH

Director, Sirius People, APSCo Australia Chair