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After an initial period of extreme uncertainty, the rhetoric around the Australian property market appears to have shifted into a new phase in response to the ongoing coronavirus pandemic.

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On this episode of The nestegg Podcast, host Grace Ormsby is joined by the founder and CEO of Upside Realty, Adam Rigby, to delve into how COVID-19 has been affecting different demographics within the property sector, including renters, landlords, investors and retirees.

Adam touches on the pros and cons of potentially removing stamp duty, his predictions for marketplace trends over the coming months, and the importance of picking quality over timing when considering an investment.

Thanks Adam, for sharing your insights with the nestegg podcast team!

You can keep up to date with what Upside Realty are up to HERE

Have an investment story to share? Get in touch at [email protected] and you might get featured on the next episode.

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Saturday, 30 May 2020

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Will grads have a job in 2021?

By Naomi Neilson and Cameron Micallef · April 20 2020

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Earn

Will grads have a job in 2021?

By Naomi Neilson and Cameron Micallef
April 20 2020

Reading:

Will grads have a job in 2021?

By Naomi Neilson and Cameron Micallef · April 20 2020

Reading:

Soon-to-be graduates are being told to keep calm and keep applying as company intakes have not changed due to the time it takes to recruit a graduate, industry experts advise.

In a conversation with nestegg, GradConnection national account manager Alexandra Tyrrell said the vast majority of its graduate employers are still pushing ahead with their recruitment campaigns, adapting to their processes for assessment and selection to an online or virtual process.

“We have only had the small number of employers we work with who have cancelled their programs altogether, and some who have placed all their intern and grad recruitments on hold — usually with the intent that they will go back out later in the year,” Ms Tyrrell said.

Whatever happens over the next few months - the unemployment / underemployment hit to young people will be larger and persist for longer than any other age group. Particularly devastating in this case because they are also the least susceptible to the virus @IndeedAU pic.twitter.com/abVlvoJ5s1

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— Callam Pickering (@CallamPickering) April 16, 2020

In the next few months, graduates may be seeing statistics based on the recessions from the past. Keep in mind, however, that there are lessons to be learnt from the global financial crisis where companies cancelled graduate programs and were left at a disadvantage at the end — so, considering “lessons learnt”, companies should be avoiding this avenue.

GradAustralia’s co-founder, Geoff Adams, believes “employers are reluctant to switch off their brand entirely during a downturn as it takes a lot of time to regain their image in the eyes of quality candidates when the market bounces back.”

GradConnection Clinton Bolst agrees with Ms Tyrrell that companies which cut down from their graduates’ intakes for short-term cost benefits in 2008 emerged in later years with a “severe talent disadvantage” as their “emerging talent pipelines were empty”.

“They simply had no graduates coming through their development programs. Some even burnt candidates through the recruitment experience, withdrawing offers and damaging a brand in the graduate and experienced hire market,” Mr Bolst said.

Despite the potential of employment, with GradAustralia showing over 300 grad jobs and internships, potential salary for new employees could be affected by the global slowdown.

Mr Adams stated it is “too early to tell, but I imagine some drop in salary to fall in line with broader measures taken by employers to existing salaried team members”.

Bottom line: Recent graduates should not be concerned about the career prospects in the future, unless this pandemic continues into 2021. At this time, that seems unlikely — as does completely losing out on a chance to work in your chosen profession.