5 June 2006 
 
 
Australian businesses need to consider how they are going to attract and retain employees with less people entering the work force and the generation Y harder to attract said Jillian Barrie, Director of Sales Advantage Marketing at the Melbourne Chartered Accountants Business Forum.  
 
"Professional service organisations are finding it especially difficult to fill their positions. There are no longer geographic boundaries to recruitment drives, and five per cent of Australian workers work overseas," said Barrie.  
 
Out of 43,000 members of the institute of Chartered Accountants in Australia, 14 per cent work overseas.  
 
"A lot has been said about the differences between the generations because it has never been so marked. To create an effective workplace these differences need to be taken into consideration as well as to continue to attract new staff. For example Generation Y demand flexibility and social awareness whereas baby boomers are focused on status symbols and hard work," said Barrie.  
 
The skills shortage in accounting is well documented with ageing professionals, accountants moving overseas for higher salaries and increased legislation. Employers are turning to innovative ways to attract the new generation for example the increase of employers attending the Institute's career fairs allowing the people to talk to employers and find out what the company stands for.  
 
"Employer branding is the whole employment experience - starting with recruitment and talking to future employees, to being an employee and working in the company. Employer branding also encompasses building individual and organisational capabilities to meet the needs of the rapidly changing business environments," said Barrie.  
 
By maintaining employer branding will help retain employees. Firms can retain employees and keep them engaged in their role by:  

• Creating a flexible work environment
 

• Managing generational differences in the work place
 

• Looking after older and more experienced employees
 

• Promoting from within