Media Release: Accessing Global Talent Provides an Answer to Australia’s Skill Gaps

28 Apr 2022

The Australia China Business Council and the AOYE Group today issued a new joint report, ‘Global Talent Program: Helping Australia Innovate, Evolve and Grow.’

The report highlights Australia’s opportunity to address talent shortages by tapping into China’s expanding pool of highly skilled professionals and business leaders.

“To continue Australia’s economic growth post the pandemic, the private and public sectors will need Asia-capable talent to access and engage with rapidly developing regional markets,” said David Olsson ACBC National President

“Whether it be through understanding of complex supply chains and marketing channels, or the development of cutting edge technology, Australian business will need employees with Asian language skills, understanding of complex regional regulatory and political environments, and deep interpersonal relationships in the region,” he said.

China is the world’s biggest source of foreign-born talent. As an emerging global leader across a range of technologies, it has a growing pool of leaders with commercial experience in advanced technology businesses.

AOYE Group CEO Sandra Li commented on her first-hand experience of the benefits global talent brings to Australia.

“We have watched our clients go on to contribute greatly to the Australian economy and community,” said Ms Li.

The report highlights the role of Australia’s Global Talent Visa Program, a Federal Government initiative designed to incentivise the best talent across the globe to live and work in Australia. In 2020-2021, some 10 per cent of successful applicants came from the Chinese mainland.

With competition for talent becoming stronger around the world, other advanced economies such as the US, Canada and the UK offer specific programs to lure this talent.

“Proactively targeting Chinese talent, and making application processes as simple as possible, will enable Australia to attract further talent into the future,” said Ms Li.

The report highlights the challenges of skill shortages across five key sectors: Digital Technologies; Health Industries; Energy; Financial Services and FinTech; and Advanced Manufacturing and Circular Economy.

Commenting on the growth in the fintech sector, Ben Ford of Frollo said, “The … flood of new entrants means there is a large gap between the number of staff required versus the number available.”

Travis Chambers, an executive with Advance Industrial said, “introducing overseas talent to our manufacturing potential in Australia could have a bolstering effect on production opportunities across critical manufacturing sectors”.

The report will be launched at a function in SEC Newgate in Sydney.

Download the full report – Global Talent Program

About AOYE Group

At the AOYE group, our mission is to work closely with our unique clients and the Federal Government on Australia’s Global Talent Initiative. We seek to help Australia innovate and grow across its key industry sectors, by sourcing industry-leading talent from across the globe.