Free Checklist for your business
Enter your info to complete your purchase. By downloading our free template, you agree to subscribe to our mailing list.
Apr 12, 2023
Nationally, employers are feeling the pinch in finding those ideal candidates, which is not surprising, with a noted 1.8% drop in candidate applications month-on-month since 2022. Candidate availability was at its lowest in 10 years in mid-2022, while job ads hit a record high in mid-2022. Notably, the trends are showing that job ads are coming back down while candidate availability is coming up, as Australia’s states and businesses begin to step towards normality after Covid restrictions ease. Unsurprisingly, the states that experienced significant Covid lockdowns and restrictions have had the biggest impact in their markets; Victoria, ACT, and New South Wales were down 14%-19% in job ad volumes from Feb 2022 – Feb 2023.
The Australian Governments Jobs and Skills statistics further highlights these trends regarding recruitment difficulty increases while now needing also to consider the expectations for an increase in staffing levels by 3% month-on-month. The top growth industries for Seek month-on-month were Education & Training, Community Services & Development, and Healthcare & Medical, which is expected when considering that these markets boomed during Covid due to being essential fields. With predicted staff level increases across 2023 and considering new market demands and trends, it will be interesting to see 2023’s industry growth.
So, as employers and recruiters, what can you do to attract and retain talent? The job market has become a candidate’s market – with companies pushing to find unique Employee Value Propositions (EVP) and incentives to peak candidate interests in their company over their competitors. Tactics such as advertising salaries have shown an increase in remunerations by 4.4% year-on-year. The most significant salary leap in the past 12 months has been in Trades & Services, Design & Architecture, Manufacturing, Transport & Logistics, Insurance & Superannuation, and Administration & Office Support. However, any increase is still behind when considering the inflation rises.
Based on the presented Seek data and recruitment challenges, Employers and recruiters need to consider their industry’s salary competitiveness within the market, their current EVPs, and identify possible incentives they can offer to combat rising living costs.
Have you created an EVP yet? Our HR experts regularly host free online webinars that take you through the steps of creating a great EVP. You can register on our Events page or at Create your EVP. If you’d rather work together to fulfil your recruitment needs, get in touch with our team who love a good challenge at email@example.com.
Guides to help you uncover human resource insights, and make the right changes to improve team delight.