The quick answer is there are 3 different main visas that you can sponsor a foreign worker. There are many others that relate to short stay work (eg. 3 months).
1. working Visa
This is the most popular visa which is a temporary visa valid up to 4 years. However it does come with some employer obligations and compliance costs.
2. 186 Visa
This is a permanent visa similar to the working visa but requires the migrant to have a higher level of experience and English skills. Similar compliance costs apply.
3. 187 Visa
This is a permanent visa for workers located in a regional area. This visa has many advantages including lower compliance costs and less stringent eligibility criteria.