Global companies increasing hires in Australia to ‘expand footprint’, says Deel
International companies are increasingly looking to make hires in Australia as an entry point for expansion through the Asia-Pacific region, recent data from Deel reveals.
The trend in remote hiring continues to grow despite many organisations adopting return-to-office measures, according to new research by global HR company Deel.
Deel’s latest State of Global Hiring Report showed a 57 per cent increase in global hiring through its platform.
The report was based on aggregated data from hundreds of thousands of employee contracts on the Deel platform across more than 160 countries from January to December 2023
Deel country leader Shannon Karaka said the 2023 report also shows a surge in international and global companies hiring in Australia as an entry point for expansion through Asia Pacific.
“Organisations around the world that are expanding into Sydney versus Singapore as an entry point into Asia Pacific,” said Mr Karaka.
“They’re generally looking to hire a country leader to drive that market expansion. The organisation will test the waters for a period of times and then over time, continue to invest in the region and throughout APAC once they’ve established revenue and product market fit.”
Mr Karaka said in terms of accounting specifically, accounting roles are some of the most common hires through the platform, particularly in the Philippines and India.
“Across India and the Philippines, accountants are one of the top five roles being engaged through our platform,” he said.
The data from the platform also indicates that remote work remains a strong trend, with 85 per cent of the workers hired through the platform working remotely.
“We’re still seeing that employees and contractors really value flexibility, not even just flexible work conditions, but flexible, dynamic ways of working,” he stated.
Involuntary terminations starting to ease
The report also indicates that while there was a significant increase in voluntary terminations across different industries in February 2023, there was a significant reduction in the rate of terminations throughout the rest of the year.
“Throughout 2021 and 2022 as well, we saw a surge in hiring, then a bit of a correction with a lot of organisations right sizing and restructuring their businesses. Our data shows that there was a lot of involuntary terminations at the start of February 2023,” said Mr Karaka.
“However, there was a significant reduction in that throughout the 2023 year and by November had reduced by 52per cent.”
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