10 Key Workplace Trends for the Victorian Job Market in 2024

2023 Blog   Website Header

​We’ve published our 12th edition of the PACE Survey covering market conditions, trends and salaries of the last 12 months. The report covers the Planning, Project Management, Architecture, Construction and Engineering industries.

Here are our top ten takeaways we think you should be across:

1. An increase in health and wellbeing initiatives

73% of companies offer health and wellbeing initiative or practices, compared to 69% last year, with Employee Assisted Programs (EAP) being the most offered, followed by mindfulness activities such as yoga, meditation fitness.

2. The introduction of artificial intelligence

Majority of companies allow AI technology to be used by staff, with 5% prohibiting it and 5% mandating it. The majority of AI has been in administrative tasks rather than technical tasks

3. Increasing successful tenders

Engineering firms reported the highest tender success rate out of all industries surveyed, at a success rate of 51% in 2023, up from 44% in 2022. The rate for successful tenders across all industries rose from 41% in 2022 to 43% in 2023.


4. Staffing is on the rise

 56% of organisations expect their staff numbers to increase in 2024, and 34% expect them to remain the same in 2024. Now may be a great time to start exploring your options.

5. Four is the new three

 For the first time since COVID, the majority of companies intend to have their staff work in the office 4 days a week, with 38% of companies moving towards 4 days a week in the office. 3 days per week is dropping from 40% to 33%.

6. Hiring intent remains stable

Despite some economic head winds, 61% of firms plan to increase headcount in 2024, similar to 62% who had the same intent 12 months ago. Only 5% expect numbers to decrease, compared to 6% 12 months ago.

7. Salary growth still strong

Average salary increases dropped from 6.7% to 6.1% in the last 12 months. Employers expect salaries to continue to go up, but at a slower rate of 4.7%.


8. The 'Great Resignation' has passed

Resignation rates dropped from 10% in 2022 to 7.3% in 2023. The main reason people resigned, for career advancement, has remained the same. The second most popular reason being salary.

9. Counteroffers going out of fashion

Only 20% of firms counteroffered departing staff in 2023, down from 30% in 2022. Counteroffers remained ineffective with 80% of those counteroffered resigning within 12 months.

10. Market optimism is stable

53% of respondents are optimistic about the future of the market – the same number as 12 months ago. While only 7% are pessimistic.

If you want to read the complete report or compare your salary to market average, download the PACE report.