Key points:
Australian defence industry experiencing job growth
Mass job losses across other Australian industries
Defence industry offers strong opportunity and security
The Australian defence industry can offer you career development and job security throughout the COVID-19 economic downturn and beyond.
While swathes of jobs are being shed as the nation deals with the economic fallout of COVID -19, the defence industry remains largely recession proof and in a period of unprecedented peace-time growth. In fact, the defence industry is seen by government as a sector that will contribute the broader renewal of Australian advanced technology and manufacturing sectors.
Our Kinexus Defence Industry Insights – Seventh Edition shows the industry is entering a phase of strong hiring activity, with more than 3,000 new jobs set to be created in the next 12 months.
While many market sectors are set to contract and shed jobs, career confidence in the defence industry remains extremely high.
Our annual workforce survey shows that 84% of respondents working in the sector are largely confident that the defence industry will be able to provide them with a long term career.
Industry Career Confidence
This graph represents the opinion of our workforce survey respondents when asked 'What is your current confidence in defence industry being able to provide you with a long-term career?'
Employee value proposition: Defence jobs
As a team, Kinexus has more than 30,000 conversations with people working in the defence sector every year, so we have unparalleled insight into the career opportunities available for prospective candidates.
On top of strong long term career prospects, defence industry employers have an increasing focus on their employee value proposition (EVP), offering valuable benefits to attract and retain the best talent.
Two-thirds of workers in the defence industry receive additional benefits, ranging from bonus payments, further education opportunities and company shares, as well as an array of other incentives.
What benefits do the defence industry workforce currently receive?
The graph below captures the types of additional benefits, if any, our workforce survey respondents currently receive.
The Defence Industry Insights – Seventh Edition reveals that professionals employed in defence industry place a premium value on interesting work, a healthy work life balance, competitive remuneration and an inclusive work culture.
Job satisfaction
This graph represents the opinion of the respondents when asked 'What has the most impact on your job satisfaction?'
COVID recession impacts
COVID-19 has upended the Australian economy and job market. The impacts are predicted to be felt for years to come.
The Australian Bureau of Statistics shows almost one million Australians lost their jobs in the immediate aftermath of the COVID-19 pandemic.
Consulting group, McKinsey is forecasting up to 640,000 jobs will go by March 2021, as the Federal Government gradually pulls back its stimulus measures.
The construction and professional, scientific and technical services sectors are predicted to be among the hardest hit. However, drawing on the employment growth identified in the Defence Industry Insights – Seventh Edition, those working in these fields can expect to be largely protected from mass job losses, if their role is within a defence related company.
Do you feel like your current role offers you the development opportunities and job security required to advance your career in the post-COVID economy?
Whether you’re already working in the defence industry and looking for new opportunities, or looking to take the plunge from an adjacent industry, our consultants are ready to help you take the next step.
You can also check out more expert knowledge by downloading the complete Defence Industry Insights - Seventh Edition here.
Photo by Priscilla Du Preez on Unsplash
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