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ANZ seeks mature age workers to combat labour shortage

Eliza Bavin
·Personal Finance Editor
·2-min read
A crowd crossing a busy Sydney street and ANZ CEO Shayne Elliott on a blue background.
NZ CEO Shayne Elliott said the lack of workers has driven the bank to encourage the older population to come back to work (Source: Getty/ANZ)

ANZ is encouraging older Aussies to consider returning to the workforce to combat labour shortages.

ANZ CEO Shayne Elliott said the current labour shortages are impacting businesses from all industries and the bank has been working on a solution.

“We’ve been in conversations with various elements of government and state in particular, exactly around this issue, around not so much about replacing backpackers but clearly there are some emerging labour shortages,” Elliott said at an event in Mildura.

“We’ve got adaptable people with great mindsets and great ways of dealing with people who may have retired or been out of work. How do we get those people back into work?”

Elliott said the bank has launched a number of programs, including with the Victorian government, to encourage older people to return to the world of work as well as women.

“What we found in the data is a lot of people, particularly women, who were older and who had worked in tech in the past for whatever reason had moved out of the workforce and then somehow felt they weren’t worthy or capable of coming back,” Elliott said.

“So we’ve got a program to bring people back to the workforce and it has been enormously successful. So look, I think there are opportunities for that.”

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Australia’s labour shortage

Australia is suffering from a lack of workers with job ads at their highest in 12 years with businesses struggling to fill positions.

In fact, the most recent figures from the Australian Bureau of Statistics (ABS) revealed that there are 57 per cent more job vacancies now than there was before the pandemic struck.

Additionally, the number of Aussies applying to leave the country has risen sharply since business hubs in Europe and the US started opening again, while Australia’s border remains firmly closed.

The number of Aussies applying for overseas travel was over 10,000 more in June than it was in April, according to analysis by The Guardian.

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