How the workforce has changed over the last 25 years

The workforce has seen dramatic changes over the years as a result of society evolving and new challenges emerging.

Better technology, booming populations, and unexpected obstacles like the pandemic and global financial crisis are a few of the key players that have tested us and forced organisations to adapt.

SEEK released 25 trends that defined the way Australians work, which dived into why and how working has shifted over the years.

Technology at work

It’s no surprise that the advancement of technology has had a massive impact on work practices.

SEEK managing director of technology Lisa Tobin said: “Technology has ceased to be any one industry or skill set – it’s multidisciplinary and essential to all businesses that work with, service or employ people.”

According to SEEK, jobs like secretaries, bank workers, and keyboard operators have seen a dramatic increase in positions due to technology.

Since 1998, general manager and HR manager roles are up by over 700 per cent due to this evolution.

Automation has changed the way we work and created plenty of new opportunities. Without the tech boom, working from home may have never been possible.

Not only has it changed our lives at work, but it’s changed the way we look for work. Job posting sites like SEEK would not exist without this technological advancement.

What workers want

SEEK said that wellbeing had become an increasingly important consideration for employees.

Burnout and work/life balance have come to the forefront of workplace discussion, and according to SEEK, mental health support mentioned in job ads has tripled in the last six years.

Sustainable practice has also become a key concern for staff, as SEEK said younger workers are more concerned with social and environmental issues than older workers.

Flexibility wants have also seen a rise, reportedly due to the remote-working boom caused by the pandemic.

The report noted that the top three perks that employees want are:

1. Option to work from home/flexibility
2. Discounted goods/services
3. Discounted health insurance/travel insurance

Australians’ working lives

People are spending less time in a role than they used to, said SEEK.

According to the data, three to four years is the optimum time spent in a role. Meanwhile, around 25 years ago, people aged over 45 spent around 10 years at a job. Now, that figure has dropped to six years and eight months.

Women working has also seen a significant shift. According to SEEK, the number of women in the workforce has steadily increased over the last 25 years.

Furthermore, the pay gap has closed, dropping over 3 per cent in the last decade; however, SEEK said that according to its data, it won’t fully close until the late 2040s.

“Diversity at work is more than just a 50/50 ratio of men to women in the workforce, although that is a good start. It’s about having as close to an accurate representation of your customer base as possible to encourage decision making that is fit for purpose,” said SEEK ANZ managing director Kendra Banks.

Retirement age is another area that has seen a shift. SEEK said the average age of retirement in 1998 was 48 years old. Currently, it is 55.4 years old.

Industries and skills

The rise in automation has had an effect on the demand for workers in specific industries, especially accountants.

Some industries have seen increased demand, like healthcare workers who were in hot demand due to the pandemic.

One role has taken the top spot for years as the most common job. Sales assistants were the most popular in both 2001 and 2021, as they manned retail stores.

The skills needed for jobs have also seen a shift, as soft skills are considered more important when applying for a job than they used to be.

Wages and economy

Inflation is unsurprisingly a key workforce influence. SEEK noted that some goods and services have more than doubled in price since 1998.

While wages have also grown, they’re not keeping up with the rise of inflation. While this is concerning, there is a silver lining, as unemployment is at its lowest since 1974.

There has also been a record number of job ads posted to SEEK, showing that it is certainly a candidate’s market at the moment.

Small businesses are reportedly the most popular choice of employment, making up 41 per cent of the workforce. Medium makes up 25 per cent and large 34 per cent.

Small businesses also make up 97.5 per cent of all companies, as of 2022, climbing from 95 per cent in 1998.

While the pandemic had a significant impact on small businesses, SEEK said that 2021 saw a boom in small business establishments as people recovered from the economic challenges of COVID-19.

To read the full 25 trends that defined the way Australians work report, click here.