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.
Sign up for Flux and join 100,000 members of the Flux family