Quitting your job? So's everyone else...and SEEK is cashing in.
Background: SEEK is the Aussie employment marketplace that helps people find jobs - but it's now global. It was founded back in 1997 as an online version of employment classifieds...ya know, in the paper (🤮).
What happened: Fast-forward to today and SEEK has a market cap of around $10 billion. And as Aussies search for better work conditions and more pay post-COVID, SEEK's sales revenue rose 59% (for the first half of the 2022 FY).
What else: SEEK is about to deliver its highest dividend in three years. So although The Great Resignation tends to incite a bit of fear in HR teams...it's actually been great for SEEK's business.
💡 The Great Resignation is here...and some industries will thrive (i.e. SEEK) while others will be hit hard (i.e. hospitality, retail and healthcare).
💡A new report suggests 31% of workers plan to quit their current job this year. And this really hurts businesses, because it costs them nearly $19,000 on average to hire a replacement. That's the equivalent of 1,650 Big Mac meals, team.
💡With more resignations...it means more hiring to backfill roles. And that means more job posts on platforms like SEEK, who must be loving every minute of this.
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