As in-house talent acquisition professionals, we can sometimes become too focused on our own work and lose sight of broader industry trends. Our perceptions can shape our reality.
From my experience working in the tech sector over the past year and a half, the recruitment landscape has been consistently challenging. There is a high demand for talent, resulting in increased salaries and candidate expectations. We’ve witnessed unprecedented counteroffers and offer-reneging rates.
Looking ahead to mid-2023, we face uncertain times with mass redundancies, global conflicts and rising interest rates affecting our ability to save and succeed.
However, these “unprecedented times” have also allowed talent acquisition to demonstrate its value and impact on businesses. Talent acquisition has gained recognition from business leaders for its influence on all aspects of the talent landscape. We now have a seat at the table and a voice to help shape and scale organisations.
The JobAdder State of the Market report provided insightful data that validated and challenged my preconceived notions about the ANZ talent acquisition landscape.
We’ve noticed a shift towards more candidates becoming available due to redundancies and right-sizing exercises in global organisations. This has resulted in a decline in the previously ultra-competitive salaries during the peak of the pandemic.
However, competition for top talent will remain fierce, and companies that prioritise creating a positive candidate experience will stand out. Unfortunately, from recent personal experience, there has been a significant decline in this area as we transition towards an employer-driven market.
The takeaway from this report is that you’re not alone in thinking 2023 has been challenging so far, we have the data to support this reality. Recovery and growth may be slower than hoped, but opportunities still exist. Maximising these opportunities in the second half of the year will be vital.
Being considered and strategic in the way we support our businesses will be key, as will be seeking additional ways to add value, often with less resources available. We’ve got this, TA community! I hope this report provides valuable insights, and I wish you a prosperous six months ahead.
This is an extract from the State of the Market: ANZ Talent Acquisition Report Q1-Q2 2023, view the full findings and analysis here.