Archived News 2005

10 November 2005

Labour market shows signs of easing after a year of strong growth

Queensland bucks national trend

After a year of strong growth there are signs that the Australian labour market is easing, with the SEEK Employment Index falling slightly for the first time since it was launched in July.

Developed in consultation with Victoria University’s Centre for Strategic Economic Studies, the SEEK Employment Index is the first Australian aggregate indicator to directly compare labour market supply with labour market demand.

The data for October, released today, indicates a possible softening in the Australian employment market. The number of new job ads posted in October fell by 6.9% (seasonally adjusted), but remain 36% higher than at the same time last year.

Meanwhile, the total number of job applications received remained relatively steady, falling by just 0.6%. This means that the number of applications received per new job posted increased in October, and therefore there was more competition among job seekers for positions than in the previous month.

SEEK CEO Paul Bassat said that the October data also reveals some interesting State by State trends.

“It is clear that the Queensland and Western Australian labour markets continue to be the most bullish in Australia, riding on the back of a booming resources sector.

“Queensland was the standout performer in October, being the only State to experience an increase (3.4%) in the number of new job ads posted for the month. This builds on a very strong increase of 52.6% in the number of new jobs posted during the past twelve months. Western Australia comes in second at 46.6%.

“At the other end of the spectrum, New South Wales posted a fall in new job ads of 10.2% in October, reducing growth in the number of new jobs posted to just 15% for the year.

“We are clearly seeing an imbalance in the location of new opportunities at present, and employee mobility is a potential concern for many businesses, as job seekers are more willing than ever to relocate to other States for the right employment opportunity”, he said.

Professor Peter Sheehan, Director of the Centre for Strategic Economic Studies emphasised that it is too early to interpret the sharp overall decline in new job ads in October as a decisive shift in the demand for labour in Australia.

“The hiring behaviour of employers can bounce around as perceptions are influenced by factors such as petrol price rises, that may or may not result in a slowdown of the economy. Over the last twelve months employment supply and demand have grown at a similar level, and further monitoring is required before any downward trend can be firmly identified”, he said.

For further information or to arrange an interview please contact:

About the SEEK Employment Index

Developed in consultation with Victoria University’s Centre of Strategic Economic Studies, the SEEK Employment Index is the first Australian aggregate indicator to directly compare labour market supply and labour market demand.

Launched in July and published monthly, the Index and its supporting indicators are based on the actual number of new job ads and new job applications posted through the SEEK website.

seek.com.au currently hosts about two thirds of all online ads, equating to approximately 60% of all Internet and newspaper job ads in Australia. In any given month, over 100,000 job advertisements are posted on the SEEK website and approximately 1.4 million jobseekers lodge over 1 million job applications.

The SEEK Employment Index complements other well-established employment market indicators, such as the ANZ Job Ad Series and ABS Job Vacancy statistics and will in time provide industry specific data.

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31 October 2005

Employment website SEEK ranked number one in Business and Finance – Employment and Training

The latest Sept 05 quarterly data from competitive intelligence website Hitwise has ranked SEEK as the number one Australian employment site, by visits, in Business and Finance – Employment and Training.

SEEK Executive Director, Andrew Bassat said that, “Our world-class online distribution network and media partnerships mean that visitors are driven to SEEK from over 30 partner sites, which ensures that advertised jobs reach a broad national audience of both active and passive jobseekers . We continue to make a significant investment in our search technology and brand positioning, and such independent recognition of our site traffic is testament to the success of SEEK’s product offering to candidates.”

Hitwise is a competitive intelligence website that collects anonymous internet usage information via a combination of ISP data partnerships and opt-in panels.

Bassat added, “ The latest Hitwise figures support other data confirming SEEK’s formidable lead in jobseeker numbers. The latest Nielsen//NetRatings figures for September confirm that over 1.4 million candidates (unique browsers) visit SEEK each month, which based on ABS figures is equivalent to approximately 14% of the Australian working population.”

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24 October 2005

Over half of Australian workers are unhappy in their jobs

Good management proves critical to job satisfaction

56% of the Australian workers surveyed are unhappy with their jobs according to the 2005 SEEK Survey of Employee Satisfaction and Motivation in Australia, released today. The annual survey collected responses from over 7,100 participants about how they view their work.

According to Matthew Rockman, Executive Director of SEEK, "Australians are unhappier in the workplaces than they were last year, with over 56% saying they are unhappy with their current jobs compared to 45% in 2004. These figures come at a time when Australia’s unemployment rate has hit a twenty eight year low, meaning that employees are now faced with more choice than ever before."

With unemployment being so low, Australian companies are sitting on a potential powder-keg, unless management begins to address staff issues, to keep morale high and employees satisfied with their roles." said Mr. Rockman.

The survey found that those in the insurance and banking industry were the least happy, with 65% of those surveyed being dissatisfied with their job. This was closely followed by the media and manufacturing sectors with 63% of those surveyed being unhappy.

The report findings from SEEK indicate that the factors that are leading to a lack of job satisfaction are largely tangible. Management issues were at the core of much dissatisfaction with employees surveyed, such as:

• 69% do not believe that their management is open and honest
• 48% state that management is not listening to employees
• 45% say that their management is not inspiring trust
• 69% do not agree that their management is providing regular feedback.
• 71% do not believe that their management responds to suggestions and criticism

"The SEEK survey showed that a large proportion of the management issues identified by employees can be easily addressed. Managers who can walk the talk and offer career paths to their people will be rewarded with staff loyalty." said Mr. Rockman. "Our research suggests that providing feedback to employees and ensuring that staff know they are appreciated can have a huge impact on keeping people happy at work. These steps cost nothing, and in a tight employment market where employers may find it difficult to increase remuneration, it would seem logical for management to ensure that such low cost retention strategies are in place."

While employees hold certain management qualities in high esteem, it is clear from the survey that their managers don’t meet these standards. According to the survey, the two management traits that employees respect the most are ‘the ability to follow up their words with action’ and ‘openness and honesty’. However most employees do not believe that their own managers perform well on these factors, and rated each of the six management indicators lower than in last year’s survey. Indeed, in occupations where staff members are largely unhappy, the rating of their immediate manager is lower than the overall average.

Managers judge their own bosses even more harshly

In addition, employees who are actually managers themselves, hold an even lower view of their own bosses. Managers judged their own immediate managers lower on almost every aspect (5 out of 6) compared to the overall employee average. Management judged their immediate managers lowest on their ‘ability to encourage and listen to suggestions’, and on their ‘ability to provide regular feedback’.

This management rating trend continued on a downward trajectory from last year’s survey, and shows just how entrenched a problem management remains in the Australian workplace.

An employees market

With the number of new jobs posted in September standing 36% higher than at the same time last year (according to the September SEEK Employment Index figures), the power is more than ever in employees’ hands.

With such a high number of employees being unhappy when the economy is so buoyant, the time for change for a lot of people is now. However the flipside of this boom time for employees is the undoubted impact on Australian businesses.

"High staff turnover is disruptive, bad for morale and comes at a significant cost to organizations." said Mr. Rockman. "When the ability to address so many of these issues can be quickly and easily resolved, the onus is on Australian businesses to offer the best environment for their staff to retain employees and attract the best recruits."

Further information and comment is available

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12 October 2005

Employment Market Strengthens in September

SEEK Employment Index rises by 6.8 points to 105.4 highest since March 05

Competition for new jobs decreased slightly in September, but employment market supply and demand remains strong, adding to conflicting information about the state of the Australian economy.

The number of new job ads posted in September increased by 2.7% (seasonally adjusted), on top of a significant gain of 10.5% in August. New jobs posted in September stand 36.2% higher than at the same time last year, according to the latest SEEK Employment (SEEK EI) figures released today.

On the supply side, applications for jobs advertised are 40% higher than a year ago, but down 2.5% in September. NSW and South Australia were the only two states to buck the trend and record an increase in the number of job applications of 1.3% and 19.8% respectively.

Looking at job supply and demand for labour in tandem, the SEEK EI rebounded strongly in September, rising 6.8 points to 105.4, 11.4 points higher than the same time last year. This indicates that the labour market tightened last month to its strongest level since March 2005.

SEEK CEO Paul Bassat said that while this is a clear indication that the labour market is tightening, more time is needed before the extent of this is known.

"On average, employers had slightly fewer applications for each job they advertised in September, but the numbers of new jobs available and the number of Australians who are on the lookout remain very high."

"With plenty of employment opportunities available, job seekers are beginning to become more selective about the positions they apply for and companies will need to differentiate themselves as they compete for new staff."

"In the year to September 2005, the strongest growth in new job ads has come from the resource rich states of Queensland (53.6% increase in the year) and Western Australia (59.1% increase in the year). New South Wales has been the weakest state in terms of job ad and employment growth in recent years, but it is redeeming itself with a 7.9% increase in new job ads since June 2005."

"In South Australia job ads are down slightly, and competition for new positions is intensifying, as shown by a 19.8% increase in the number of applications received per job advertisement in September, suggesting a weakening of the employment market in South Australia", he said.

Professor Peter Sheehan, Director of the Centre for Strategic Economic Studies, said that the outlook for the Australian economy remains unclear as the SEEK Employment Index adds to a mix of conflicting signals.

"The continued rapid expansion of credit, the resources boom and increasing growth in employment and wages suggest that the long expansion is continuing. Meanwhile, factors such as weaker GDP growth, a slowing housing sector, and the impact of rising fuel prices suggest that the impetus may be slowing."

"Based on the SEEK Employment indicators, the balance appears to be turning towards further reductions in unemployment. With the 5% barrier likely to be breached and some increased inflationary pressures, it is now more likely that the next interest rate change will be up rather than down", Professor Peter Sheehan said.

The 2005 Winners

Generalist Recruiter – Large

Winner: Kelly Services (2004 Winner)

Runner up: LINK Recruitment

Generalist Recruiter – Small to Medium*

Winner: Staff It (2004 Winner)

Runner up: Majer Recruitment

Executive Recruiter

Winner: Hudson (2004 Winner)

Runner up: BSI People

IT Recruiter – Large

Winner: Greythorn (2004 Winner)

Runner up: Finite Recruitment

IT Recruiter – Small to Medium*

Winner: Xpand IT (2004 Winner)

Runner up: Macro Recruiter

Niche

Winner: AAAI Group (Engineering)

Runner up: Retailworld Resourcing (Retail)

Healthcare

Winner: Kelly Scientific Resources

Individual

Winner: Mark Limbrick, Ambit IT&T Recruitment

*Small to Medium size consultancies have 12 or fewer employees.

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15 September 2005

Fierce Competition at the 2005 SEEK Annual Recruitment Awards

Australia’s favourite recruiters were honoured last night at the SEEK Annual Recruitment Awards (SARAs), after three months of fierce competition.

The SARAs, a popular choice award, were launched in 2003 to acknowledge the value the recruitment industry provides both clients and candidates. The award categories cover a range of industries and ensure small, medium and large recruiters are all considered.

At a gala event held at the Sydney Hilton, Kelly Services won the Generalist Recruiter: Large category and Staff It won the Generalist Recruiter: Small to Medium category. Other winners included Hudson in the Executive Recruiter category, Greythorn in the IT Recruiter category and Xpand IT in the IT Recruiter: Small to Medium category.

This year two new categories were added to the awards, Favourite Niche Recruiter and Favourite Healthcare Recruiter. AAAI Group (Engineering) took out the Niche category and Kelly Scientific Resources won the Favourite Healthcare Recruiter award.

Winning a surprise award was Mark Limbrick of Ambit IT & T Recruitment who received the most individual votes from job seekers and was crowned as this year’s Favourite Individual Recruiter.

SEEK researched international industry award programs before developing the SARAs. Now in its third year, the SARAs have been embraced by the recruitment industry with many organisations encouraging their candidates to vote for them on their websites, by email or in print materials during the three month voting period.

Matthew Rockman, SEEK Executive Director said a 50 per cent increase in the number of votes received this year shows that jobseekers have been highly supportive of the SARAs. 9,000 job seekers voted in the 2005 SARAs, up from 6,000 last year.

“The SARAs highlight how competitive the recruitment industry is and the value jobseekers place on personal service. This year’s voters have voiced their opinions on what makes a good recruiter and this includes a prompt response, valuable advice and excellent post placement service,” said Matthew Rockman.

The New Zealand SARA winners will be announced on Tuesday 21st September.

The 2005 Winners

Generalist Recruiter – Large

Winner: Kelly Services (2004 Winner)

Runner up: LINK Recruitment

Generalist Recruiter – Small to Medium*

Winner: Staff It (2004 Winner)

Runner up: Majer Recruitment

Executive Recruiter

Winner: Hudson (2004 Winner)

Runner up: BSI People

IT Recruiter – Large

Winner: Greythorn (2004 Winner)

Runner up: Finite Recruitment

IT Recruiter – Small to Medium*

Winner: Xpand IT (2004 Winner)

Runner up: Macro Recruiter

Niche

Winner: AAAI Group (Engineering)

Runner up: Retailworld Resourcing (Retail)

Healthcare

Winner: Kelly Scientific Resources

Individual

Winner: Mark Limbrick, Ambit IT&T Recruitment

*Small to Medium size consultancies have 12 or fewer employees.

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14 September 2005

SEEK Employment Index: Surge in Job Ads and Applications Indicates Strengthening Economic Growth

Australia’s employment market experienced strong growth in August according to the SEEK Employment Index released today, providing new evidence that growth in the Australian economy is beginning to accelerate.

The number of new job ads posted in August surged by 10.5% (seasonally adjusted) to be 44.3% higher than in August 2004. But this rapid growth in the demand for labour continues to be matched by an increase in the supply of labour, reflected by the rising number of job applicants. Job applications jumped by 13.5% (seasonally adjusted) in August 2005, 42.8% higher than in August 2004, suggesting that inflationary pressures remain contained.

In August, the SEEK Applications per Ad Indicator rose by 4.3% on the back of a 2.4% increase in July 05. In the year to August 05, there were strong gains in Queensland (13.8%) and NSW (6.4%), indicating that competition for jobs in those states has increased. Highlighting an underlying skills shortage, Western Australia experienced the greatest decline in the number of applications per job with a decrease of 10.3% since August 04.

Looking at data across the past 12 months, there has been a marked geographical shift in the distribution of new job ads, with NSW’s national share decreasing from 45.3% in August 04 to 41.8% in August 05. Most of NSW’s decline has shifted to Queensland, whose share has increased from 15.7% in August 04 to 18.1% in August 05.

Developed in consultation with Victoria University’s Centre for Strategic Economic Studies (CSES), the SEEK Employment Index (SEEK EI) is the first Australian aggregate indicator to directly compare labour market supply with labour market demand.

SEEK CEO Paul Bassat said that the index for August shows demand and supply in the labour market are both growing strongly.

"The ABS reported last week that employment growth in August was the strongest it has been in Australia in the past decade and this is supported by our data. There has been strong growth in the number of new job ads in all States and territories, but we have also seen the strongest monthly rise on record in the number of job applications received per ad since we started recording in October 2001.

"The SEEK Applications per Ad indicator rose by 4.3% in August, indicating that employers in most states should have found it somewhat easier to fill vacant positions in August than in July", he said.

Professor Peter Sheehan, Director of the Centre for Strategic Economic Studies, said that there have been differing views about whether the economy was slowing, or whether growth would pick up in response to rising terms of trade, the recent tax cuts and continuing easy access to credit.

"The SEEK Employment indicators provide strong evidence that the economy is strengthening. The possibility that a pick-up in growth will lead to higher interest rates will be tempered by the strong growth in the supply of labour. Stronger job demand is giving rise to increased supply, and this will help the economy to continue growing without undue inflationary pressures.

"Well over one million applications for jobs were made through SEEK in August 2005 and the ease of online job application may be one factor leading to the increased responsiveness of supply to growth in job vacancies", Professor Peter Sheehan said.

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10 September 2005

SEEK Recognised as a "Best Employer", as well as the best place to find a job

SEEK Ltd, the company behind www.seek.com.au, has been awarded a special commendation for the third year running in the Best Employers in Australia & New Zealand 2005 survey, conducted by Hewitt & Associates and the Australian Graduate School of Management.

CEO Paul Bassat said that winning this award this year was particularly satisfying.

“Ever since we started SEEK, we have worked hard to employ people on the basis of our company values and to promote a results-driven culture. We have been clear about what is expected, we have given our staff room to make their own decisions, and we have celebrated successes as a group.

“This past year has been a real milestone for SEEK. Our team has grown to over 230, we have expanded our offering into the online training area, and we have listed on the Australian Stock Exchange.

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22 August 2005

SEEK has launched a new search engine and range of improved search features that make it even easier for jobseekers to find relevant roles, and for companies to match candidates to advertised positions.

When candidates select keywords to refine their search, job results are sorted and displayed by relevance in the search results pages. The new search engine calculates a final 'Relevance' score for each job ad, by taking certain factors into account. These factors range from keyword proximity and density, to frequency and position (from job title, to short description or body text).

For example, positions that contain keywords in a job title, such as 'Sales' 'Manager', will be ranked and presented to candidates above other ads that contain the same words in a 'short description' or other body text. They will also appear higher than job ads with the same number of matches, but where a position title includes an additional word, such as 'Sales and Marketing Manager'. It is anticipated that this new search technology will deliver fewer and more relevant jobs to candidates to improve their search experience, and will ultimately improve the profile 'match' of jobseekers applying to positions advertised.

Other improvements to the site include print friendly versions of job ads and search results pages, alternating background colours for each job for better visibility, and more options for candidates to sort their results. A further inclusion is a classification tree, which will show candidates where each job is classified on SEEK, to help them refine their job search further to target specific roles.

SEEK Product Director, John Finley said, "The release of our new search technology is great news for our advertisers, as it helps SEEK to place the right position in front of the right candidate. These improvements deliver an immediate benefit to the over 1 million of our site users who are registered to receive daily and weekly updates on jobs matching their desired profile. This release further improves the job search experience for the more than 1.4 million candidates that visit SEEK each month, and is a further step in our commitment to refining our candidate match for advertisers."

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22 August 2005

Results for the year ended 30 June 2005 exceed prospectus by 10% Revenue growth of 75% to $70m, EBITA growth of 104% to $28.5m

SEEK Limited, the leader in the online employment market in Australia and New Zealand, today announced a net profit after tax (pre goodwill) of $21.8m for the year to 30 June 2005, exceeding prospectus forecasts by 10%.

Key features of the result include:

• Sales revenue growth of 75% from $40m in 2004 to $70m in 2005 (4% above Prospectus)
• EBITA growth of 104% from $13.9m in 2004 to $28.5m in 2005 (6% above Prospectus)
• NPAT (pre goodwill) growth of 52% to $21.8m (minimal tax was payable in the previous year)
• EBITA margins improved from 35% in 2004 to 41% in 2005
• Earnings Per Share (pre goodwill) improved from 5.6 cents per share in 2004 to 8.1 cents per share in 2005

SEEK CEO, Mr Paul Bassat said: "We are extremely pleased with these results, with strong revenue growth translating into outstanding earnings growth and exceeding our Prospectus forecasts."

"Whilst we have had a strong operating environment during the 2005 year, more significantly, a key driver of earnings growth has been the ongoing structural move in employment advertising from print to online."

Mr Matt Rockman, Executive Director – Sales said: "We have had very strong advertising volume growth of 46%. Overall online employment advertising volumes grew by 31% in 2005, while volumes in print media declined by 6% over the year*. We believe this trend is set to continue."

"In our Prospectus, we outlined a very clear strategy to deliver growth from the existing employment classifieds business and from new businesses. This result is evidence of the execution of that growth strategy."

Mr Andrew Bassat, Executive Director - Business Development said: "We have targeted particular industries and particular geographic regions where our penetration is lower than our "traditional" markets. These industries and areas have delivered substantial improvements in advertising volumes, particularly in the last six months."

"We have also targeted the SME market and have seen a substantial increase in the number of SME customers."

"Operating expenditure remains very well controlled, despite significant investments made in the business during 2005. In the core business, there has been ongoing focus on product development and enhancement, with several major product innovations during the year. This enhanced the SEEK product offer not only to advertisers but also to jobseekers."

"One of the major achievements in 2005 was the establishment of the SEEK Learning business. We made rapid progress during the year and expect the rate of growth in the business to be sustained." Mr Andrew Bassat said.

SEEK also announced today that it has acquired Dynamic Web Training (DWT) as part of its expansion of the Learning business. DWT provides short classroom –based training courses for popular software applications. A separate announcement made today contains more details of the acquisition.

SEEK Learning generated sales revenue of $6m in 2005, in line with Prospectus forecasts.

SEEK will continue to target further acquisition opportunities in the learning market during 2006. Any acquisition must meet both the strategic and financial hurdles required to generate sufficient returns to shareholders.

"The 2006 financial year has started well and the Board is confident that SEEK will achieve the 2006 earnings forecasts made in the recent Prospectus." Mr Paul Bassat said.

Directors have declared a final dividend of 1¢ per share, fully franked. This is based on the period from the date of allotment of new shares under the IPO to 30 June 2005 and is in line with the current dividend policy. The dividend will be paid on 30th September 2005 to shareholders who were registered at 16th September 2005.

* Source: ANZ Job Ads series

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22 August 2005

SEEK announces acquisition of Dynamic Web Training

SEEK Limited today announced the acquisition of Dynamic Web Training Pty Limited (DWT) as part of the expansion of its SEEK Learning business in the vocational education and training market.

DWT provides short classroom-based training courses for popular software applications, predominantly in NSW and Victoria. These include MYOB and web design software such as Flash and Dreamweaver. DWT was established four years ago and has since grown to be a leading provider of web design software training in Australia. DWT's rapid growth is underpinned by the high quality of training provided and the company services a wide range of customers ranging from Corporates, to SMEs, Government departments and individuals.

Commenting on the acquisition, SEEK Senior Executive, Jason Lenga said: "DWT has strong growth prospects and will complement the existing SEEK Learning business. SEEK Learning's core business involves selling distance based training courses, to help jobseekers upgrade their skills and vocational qualifications."

"This market holds great potential for SEEK, which has a highly relevant audience of 1.6 million people and a strong relevant brand".

SEEK expects the acquisition to be earnings accretive immediately upon completion of the deal in late August.

Jason Lenga’s recent appointment to a corporate development role reflects SEEK’s greater focus on new opportunities, in addition to organic growth. Peter Everingham has also recently joined SEEK Learning as Managing Director.

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10 August 2005

Job Supply and Demand in Equilibrium

Australia’s employment market remains strong, with supply and demand exhibiting continued equilibrium according to the July SEEK Employment Index released today.

Developed in consultation with Victoria University’s Centre for Strategic Economic Studies (CSES), the SEEK Employment Index (SEEK EI) is the first Australian aggregate indicator to directly compare labour market supply with labour market demand.

In July, the SEEK Applications Per Ad Indicator rose by 2.4%, to recover from a decline of 1% in June 05. The strongest gains were in Queensland where there was an increase of 5.3%, and the greatest falls were in SA (-6.8%) and WA (-1.8%).

Between June and July 05, the number of new ads posted on the SEEK website fell by 4.1% (seasonally adjusted), but remained 35% higher than at July 04. The overall number of job applications made to employers in response to new job ads also declined by 3.8% but was 31% higher than July 04.

SEEK CEO Paul Bassat said: "Our data shows that supply and demand have both slightly softened following a year of solid employment growth.

"In July it became marginally harder for people to find a job and marginally easier for employers to fill available positions. This reflects an employment market that remains healthy and buoyant.

"The small falls in the number of job ads and applications also need to be considered in the context of very strong employment market growth over the past 12 months. There continues to be strong demand and fierce competition to attract qualified candidates. Australian jobseekers are becoming increasingly aware of this situation and taking advantage of new job opportunities."

The SEEK Employment Index also uncovered differences across states. The easiest State to get a job in July was South Australia, which experienced an increase in new job ads posted (1.6%) and a decrease in the number of people applying for each new job (-6.8%). In contrast, job ads in the ACT fell by 11.3% and applications per job increased by 15.9%, making it relatively difficult to land a new position.

"The SEEK Employment Index will be expanded in time to include breakdowns in specific industry sectors, and it is designed to complement other existing economic indicators", Paul Bassat said.

"When the market is examined as a whole, the July SEEK Employment Index shows there is little evidence of labour supply shortage and wage pressure. This is consistent with the RBA’s recent position on expectations of price inflation".

For further information or to arrange an interview please contact:

Paul Bassat Chief Executive Officer SEEK Limited Tel: (03) 9510 7200

Anne Wickham Reputation Mobile: 0419 185 664 awickham@reputation.net.au

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11 July 2005

New SEEK Employment Index indicates continued strong labour market

SEEK Employment Index figures released today support suggestions that employment growth will remain strong with unemployment potentially falling below 5% in 2005.

Launched today and developed in consultation with Victoria University's Centre for Strategic Economic Studies (CSES), the SEEK Employment Index (SEEK EI) is the first Australian indicator to directly compare labour market supply with labour market demand.

The SEEK EI and its supporting indicators shed more light on the debate around current labour market drivers.

SEEK CEO Paul Bassat said: "the SEEK Employment Indicators for June back the Australian Bureau of Statistics labour force numbers, which reported an increase in employed persons and a rise in the participation rate in the month of June.

"Since January 2005, new job ads have risen by 17% while, applications have also increased by 19%. In other words, t he Index indicates that more people are entering the workforce, and more currently employed people are actively looking for alternate job opportunities".

CSES Director, Professor Peter Sheehan, said that strong growth was experienced in both the number of new ads placed on the SEEK web site and the number of applications made to employers in response to those new job ads.

"SEEK's June data indicated that claims of a slowing Australian labour market have been perhaps premature, as new job ads posted grew by 4.2% and new applications rose 2.8% (seasonally adjusted).

"SEEK's measure of balance in the labour market, the average number of applications per job ad, has been fairly stable over the past 12 months, despite a 37% increase in the number of new jobs posted over the corresponding period. Jobseekers seem to be responding strongly to the new opportunities in the market".

The SEEK Employment Index will be officially launched by the Hon. Kevin Andrews, Minister for Employment and Workplace Relations and SEEK Chairman James Packer in Melbourne this evening.

About the SEEK Employment Index

Published monthly, the Index and its supporting indicators are based on the actual number of new job ads and new job applications posted through the SEEK website. In any given month, over 100,000 job advertisements are posted on the SEEK website and approximately 1.4 million jobseekers lodge over 1 million job applications.

SEEK Chief Executive Paul Bassat said: "Internet technology and SEEK's position in the employment classifieds market combined to place it in a unique position to provide insight into the supply side dynamics of the Australian labour market.

"While a number of data sources indicate the demand for labour, there are few that reflect the supply side of the market. Thanks to the Internet, we now have access to reliable job application data, and can gather it in an efficient, scalable and timely way''.

SEEK believes its Employment Index will provide a deeper understanding of the Australian labour market, and will be of use to a wide range of labour market participants including jobseekers, recruitment agencies, employers and government.

The SEEK Employment Index will serve to complement other well-established employment market indicators, such as the ANZ Job Ad Series, the ABS Job Vacancy statistics and the Olivier Internet Job Index.

The Index will initially cover national and state labour markets, but in time will evolve to deliver a more granular picture of the Australian labour market at the industry and occupational level.

For further information or to arrange an interview please contact:

Paul Bassat Chief Executive Officer SEEK Limited Tel: (03) 9510 7200

Anne Wickham Reputation Mobile: 0419 185 664 awickham@reputation.net.au

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12 May 2005

Recruitment Companies Prepare for the Spotlight as S.A.R.A. Voting Opens

Voting will open on June 1 for the SEEK Annual Recruitment Awards, with considerable interest anticipated after the success of the past two years. Last year there were 6,500 votes generated in Australia, with winners selected across seven different categories.

The 'SARAs', are popular choice, or people's, awards launched by SEEK in 2003 to acknowledge the value the recruitment industry provides to clients and candidates. Only one vote is allowed per person, controlled via a cookie that is placed on voters' computers.

"We value the partnerships we have with recruitment companies and we wanted to reward recruiters who are providing exceptional value to their clients and candidates by creating public recognition for them", said Natalie Mactier, Marketing Manager of SEEK.

"A SARA is an excellent way for those recruitment companies that are setting the benchmark for taking care of candidates to stand out from their competitors and promote their teams' efforts."

"Candidates who voted for last year's winners consistently mentioned personal attention, an appreciation of their career goals and proactivity in matching them with suitable opportunities as areas they most valued."

"We expect that the SARAs will be particularly valued this year because in the current employment market where candidates are scarce a recruiter's reputation becomes critical to their success."

"People have always recommended good recruiters to their peers, but the SARAs provide tangible evidence for winners that they are setting the tone for best practice in the industry", Ms Mactier said.

From today, recruitment companies can download online banners and tiles from the SEEK Advertiser Centre at www.seek.com.au/advertisers to encourage their candidates to vote for them. Voting will take place between 1 June and 31 August, with the winners to be announced in September.

For further information or to arrange an interview please contact:

Rebecca Cahill Reputation Pty Ltd Tel: (02) 8252 7003 Mob: 0403 547 694

Australian Award Categories

• Large (more than 12 employees)
• Small/Medium

• Large (more than 12 employees)
• Small/Medium

• Large (more than 12 employees)
• Small/Medium

Healthcare Recruiter

• One winner only

Award winners will receive a trophy and will be entitled to use the SARA Winner 2005 logo on their site and literature. Award finalists will be entitled to use the SARA Finalist 2005 logo on their site and literature.

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17 April 2005

Successful Completion of SEEK Offer

SEEK Limited ("SEEK"), the leader in the online employment market in Australia and New Zealand, today announced the successful completion of its initial public offering (IPO) following strong demand from domestic and international institutions and retail investors.

The Offer closed on the 15th of April heavily oversubscribed. 77.3 million shares were issued under the Offer, with the final price to be paid by institutional and retail investors set by institutional bookbuild at $2.10 per share.

Based on the final price, SEEK will have a market capitalisation of approximately $587 million.

"We are delighted with the strong interest in the Offer which reflects the market support for SEEK's ability to continue to be the leader in the online employment market in Australia and New Zealand. We have a clear growth strategy and increased financial flexibility to pursue these strategies in the future," said SEEK CEO, Paul Bassat.

"Strong demand from over 75 Australian, New Zealand, Asian, and other international institutions has resulted in a high quality institutional share register, with institutions being allocated over 70% of the offer", said Mark Warburton, Executive Director, Macquarie Equity Capital Markets (Lead Manager of the Offer).

Almost 30% of the shares in the Offer have been allocated to retail investors, which comprised applicants under the Broker Firm Offer and the Priority Offer.

SEEK Chairman James Packer said, "We are pleased that so many other Australian and international investors have recognised SEEK's outstanding track record and potential and we welcome them as fellow SEEK shareholders".

Of the $162.3 million raised under the Offer, $137.3 million was used to fund the buy-back of 65.4 million shares from existing shareholders and $25 million was raised by the company from the issue of 11.9 million new shares.

From 9am (AEST) on 19 April, Applicants under the retail offer will be able to call the SEEK Offer Information line on 1300 131 262 (for calls from within Australia) or +613 9415 4244 (for international callers) to find out details of their allocation.

SEEK shares are expected to commence trading on the ASX on Monday, 18 April 2005 at approximately 12.00 pm AEST, on a deferred settlement basis, under the ASX code of SEK.

For an interview with Paul Bassat or for further information, please contact:

Terri-Helen Gaynor/Anne Wickham Reputation Mob: 0409 870 022 Mob: 0419 185 664

Mark Warburton Macquarie Equity Capital Markets Mob: 0414 666 091

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05 April 2005

Surge in Volunteering Belies Claims of Donor Fatigue

Surging interest in volunteering is contradicting claims that Australians are experiencing 'donor fatigue', according to Australia's leading employment website, www.seek.com.au.

Since the Boxing Day Tsunami, traffic numbers of people searching online databases for opportunities to donate their time to locally based charities have surged 25%, peaking at 46,500 people a month.

"Australians have generously donated record amounts of money to the tsunami cause, and it seems that many people also wanted to do more than just open their wallets," said SEEK Marketing Director Katie May.

"Going to Asia to help out was not practical for most people, so they sought out opportunities to make a difference in their own backyard."

"As a result, our volunteer website has been inundated with enquiries from people wanting to help out charities in their local areas and this is likely to have an ongoing and positive effect."

According to Ms May, Australian employers can also benefit from tapping into the desire of their employees to give something back to the community.

"In the tightening employment market people are increasingly looking to work for companies that are about more than just the bottom line."

"Supporting a cause, or providing leave for charity work, is a great way to install a sense of fulfilment amongst your employees, to attract new staff and to create more balance in the office," said Ms May.

For further information or to arrange an interview please contact:

Katie May Marketing Director SEEK Limited Tel: (03) 9510 7200 Mob: 0407 853 612

Rebecca Cahill Reputation Tel: (02) 8252 7003 Mob: 0403 547 694 Email: rcahill@reputation.net.au

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23 March 2005

SEEK announces Initial Public Offering

SEEK Limited ("SEEK"), the leader in the online employment market in Australia and New Zealand, today lodged a prospectus with ASIC with the intention of listing its shares on the Australian Stock Exchange ("ASX") in an Initial Public Offering ("IPO").

It is currently expected that the number of shares to be offered will be between 75 and 85 million at an indicative price range of $1.80 to $2.20 per share. The actual number of shares to be offered will depend on the number of shares certain existing shareholders ultimately sell through a share buy-back. The offer price will be set through an Institutional Bookbuild process, resulting in an offer size of between $150 million and $170 million (based on the midpoint of the Indicative Institutional Bookbuild price range). The market capitalisation of SEEK at the midpoint of the Indicative Institutional Bookbuild price range is expected to be $560 million.

It is expected that the Retail Offer will open on 4 April 2005 and close on 14 April 2005 while the Institutional Offer will be conducted over 14 and 15 April 2005. It is expected that the shares will commence trading on the ASX on 18 April 2005 on a deferred settlement basis. Further details of the offer can be found in the attachment to this press release.

Commenting on the announcement, CEO and Co-Founder Paul Bassat said: "The proposed listing of SEEK on the ASX represents a substantial milestone for the company and is testament to the hard work and commitment of our Board, management and staff. It also represents an opportunity to take the company to the next level through increased visibility and increased access to capital."

SEEK allows jobseekers to search for jobs in a much more efficient manner than that allowed by traditional means. For recruiters, it provides access to a large audience of job candidates at very significant cost savings relative to print media and with significant functionality benefits.

According to the ANZ Job Advertisement Series, online employment advertisements in Australia have increased by a compound annual rate of 38% over the last two years and 47% in the year to February 2005. This outstanding online sector industry growth has occurred during a period when employment advertising in the print media has remained relatively flat. SEEK has been at the forefront of this growth.

These powerful industry dynamics and business attributes have resulted in SEEK achieving a strong financial position. Executive Director and Co-Founder, Matthew Rockman stated that: "We expect to generate revenue of $90 million and net profit after tax (pre goodwill amortisation) of $28.8 million in the year ending 30 June 2006."

The funds raised through the IPO will largely be used to fund the buy-back of shares from certain existing shareholders as well as providing SEEK with greater financial flexibility to pursue growth opportunities. The company has a clear growth strategy with numerous growth prospects including; growing advertising volumes — in industries where its penetration is relatively low such as healthcare and education, and geographically in capital cities and regional areas where it can replicate the market share of Sydney, Melbourne and Auckland; growing yield – through a mix of increased pricing ability and a change in customer mix towards higher yielding customers such as SMEs; and new and improved products – such as improved searching and matching technologies.

Executive Director and Co-Founder, Andrew Bassat stated that: "Whilst the forecast revenue and profit numbers outlined in the Prospectus only take account of the significant organic growth opportunities available to the company, the additional cash raised for the company will enable us to pursue further acquisitions to add to the two successful acquisitions made in 2004; NZJobs, a New Zealand online job board; and SelfCert, a self-paced IT training provider, since renamed SEEK Learning."

SEEK's largest shareholder, Publishing and Broadcasting Limited, is strongly supportive of the SEEK business and is a long-term committed shareholder in SEEK. As such it is not participating in the buy-back of SEEK shares but has been guaranteed an allocation of approximately 4.2 million shares to restore its shareholding in SEEK to 25.0%, which is the percentage it held when it originally invested in SEEK in October 2003.

SEEK today also announced the appointment of James Packer as Chairman of the company, and Colin Carter as a non-executive director. James Packer is the Executive Chairman of Publishing and Broadcasting Limited and he has been a non-executive director of SEEK since 2003. Colin Carter is a former Senior Vice President of Boston Consulting Group, a prominent public company director, and an acknowledged authority on corporate governance.

The two other non-executive directors of the company are Bob Watson and Chris Anderson. Bob Watson has over 20 years of executive management experience in the information technology and recruitment industries including being the ex-Australasian CEO of Adecco, the world's largest recruitment agency. He has been a long term investor in SEEK and has been a non-executive director of the company since 1999. Chris Anderson is a director of Publishing and Broadcasting Limited, Hoyts, Foxtel and ninemsn and was previously the CEO of Optus and Fairfax. He has been a non-executive director of SEEK since 2004.

As foreshadowed in January 2005, Irvin Rockman CBE has resigned as Chairman of SEEK. SEEK wishes to acknowledge his contribution to the business, as an original investor in SEEK in November 1997 and as SEEK's non-executive Chairman from inception to the time of his recent resignation. Irvin has provided tremendous leadership and vision and intends to remain a long-term shareholder in SEEK.

SEEK also announced today the resignations of Helen Abeles, Stuart Wardman-Browne and Dan Phillips as non-executive directors of the company. SEEK wishes to acknowledge their contributions and wise counsel over a number of years.

The Lead Manager of the IPO is Macquarie Equity Capital Markets Limited.

Note: Potential investors can only apply for shares by completing and lodging the application form contained in the Prospectus that has been lodged with the ASIC. The Prospectus will be available during the Exposure Period at www.macquarie.com.au/seek.

For further information please contact:

Paul Bassat Chief Executive Officer SEEK Limited Tel: (03) 8517 4240	Terri-Helen Gaynor/Anne Wickham Reputation Tel: (02) 8252 7001 Mob: 0409 870 022 Mob: 0419 185 664
Mark Warburton Macquarie Equity Capital Markets Tel: (02) 8232 3247 Mob: 0414 666 091

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21 March 2005

SEEK and ninemsn Sign Long-term Content Distribution Deal

The leading employment website SEEK will continue as the exclusive provider of careers content to Australia’s largest online audience through to 2007, following the announcement today of a major content distribution deal by SEEK and Australia’s leading Internet portal ninemsn.

The extended agreement will see ninemsn users continue to have access to SEEK’s job search service, together with online training, certification tools and career development advice. With over 6.9 million unique visitors to its site every month, ninemsn offers SEEK unmatched reach as well as integration with other ninemsn content and tools.

Martin Hoffman, CEO of ninemsn, said, "SEEK and ninemsn are a good fit as they are both leaders in their respective fields. Through our ongoing relationship with SEEK we will continue to offer our users the largest selection of job opportunities and career services within the one site."

Andrew Bassat, Executive Director, SEEK, said, "We are thrilled to continue to work with ninemsn on such a long term arrangement and we are looking forward to extending our relationship to encompass the training and education area."

He declared, "Our agreement with ninemsn demonstrates SEEK's commitment to a world-class distribution network. It delivers our advertisers access to the largest online audience in Australia, and places their job ads in front of 'passive' jobseekers, providing valuable access to candidates who are well qualified but may not be actively looking for a new role."

For further information please contact:

Andrew Bassat Executive Director SEEK Limited Tel: (03) 8517 4240	Ngaire Moyes Manager – Corporate Communications ninemsn Tel: (02) 9383 6114 Mob: 0404 827 898
Rebecca Cahill Reputation Tel: (02) 8252 7003 Mob: 0403 547 694

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18 March 2005

Where the Job Seekers Go!

If you're using the newspaper to land a job you might be pipped at the post by your competitors using the Internet, because the latest SEEK research shows more people are fast tracking it to the Internet than ever before.

When asked 'If you could use only one way to find a job?' in an annual Newspoll research, 31 per cent of all job seekers nominated the Internet. This is a 10 per cent increase since last year, and the survey also shows more higher income earners (43 per cent) and more 35-49 year olds (33 per cent) are using the Net.

The survey shows more job seekers under 50 use the Internet (42 per cent) to search for jobs than newspapers (35 per cent).

Paul Bassat, SEEK's Chief Executive, says, "It is the first time we have seen the Internet become the preferred method of job searching amongst the under 50s."

"While it used to be accepted that the 18-25s were early converts to online, the survey demonstrates that far broader age groups across all trades and incomes are now searching online," says Bassat.

"We all need to be online savvy. Serious job seekers need to be if they want an edge on their competitors, and employers have to be if they want to get the best people for the job."

He believes, "The latest figures underline the importance the Internet should now hold in any HR manager’s strategic plan, as online becomes the preferred employment search method across all age groups, incomes and industries."

For further information or to arrange an interview please contact:

Paul Bassat Chief Executive Officer SEEK Limited Tel: (03) 9510 7200

Rebecca Cahill Reputation Tel: (02) 8252 7003 Mob: 0403 547 694 Email: rcahill@reputation.net.au

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22 February 2005

SEEK Ltd Appoints New CIO

Tam Vu has joined SEEK Ltd to provide strategic IT leadership to the organisation.

In his role as Chief Information Officer (CIO), Mr Vu will lead a team of IT professionals responsible for enabling and innovating new products. He will also ensure IT is aligned with the business direction of SEEK.

Mr Vu brings more than 15 years of IT experience to SEEK, having worked extensively in Europe, US and Asia Pacific in a diverse range of industries. Tam's most recent role was CIO for BP's global retail business based in London, and prior to that he was the Asia Pacific IT Director for Mars.

According to Mr Vu: "I would like SEEK to be an innovative organisation and IT plays a crucial role in this. It is not enough for us to be ahead of the curve. We need to move to another level in order to stay competitive."

"SEEK lives on the Web therefore; I would like to see the IT team partner with business operations more actively to drive new business solutions."

For further information or to request a photo of Mr Vu, please contact:

Rebecca Cahill Reputation Tel: (02) 8252 7003 Mob: 0403 547 694 Email: rcahill@reputation.net.au

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10 February 2005

Job Seeker Numbers Soar Despite Near Full Employment

Despite unemployment levels being at a 27-year low, Australian job seekers are out in force with record numbers turning to www.seek.com.au throughout January.

January is traditionally busy, but this year Australia's leading employment website experienced an unprecedented volume of unique visitors. According to the latest Nielsen//NetRatings Employment Report, there were 1.4 million unique visitors to SEEK in January which is roughly equivalent to 13 per cent of the Australian workforce.

SEEK CEO Paul Bassat said, "It's common for people to start the New Year with resolutions regarding employment, so we normally see some increase in traffic at this time of year."

"But when you look at the sheer volume of job seekers this year, and our own research, you find that most of the people who are using the Internet to explore job opportunities already have a job."

"This has very real implications for business because their employees are now browsing for new opportunities even when they aren't necessarily unhappy. Companies must concentrate on providing the kind of environment, career path and benefits that make it too good for their skilled workers to leave," said Mr Bassat.

The Nielsen//NetRatings Employment Report also found that job seekers are searching more often and for longer periods of time when they log on to www.seek.com.au.

In January, the average job seeker visited SEEK 2.77 times and spent 12.38 minutes on each visit. In December, the site was visited an average of 2.54 times, for 11.21 minutes.

Overall the number of job seekers to the SEEK site increased from 1,132,586 in December 2004 to 1,457,517 in January 2005.

For further information or to arrange an interview please contact:

Paul Bassat Chief Executive Officer SEEK Limited Tel: (03) 9510 7200

Rebecca Cahill Reputation Tel: (02) 8252 7003 Mob: 0403 547 694 Email: rcahill@reputation.net.au

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