We recently attended the Australasian Talent Conference (ATC) held in Sydney.

The overall focus of conference was on employer marketing, candidate experience, technology innovation and the impacts on hiring.

Key market insights and future predictions summarised below:

Market Insights:

  • Australian workforce is 11.9 million – 38% of employees are open to a career change
  • The candidate marketplace continues to tighten ÔÇô the hardest role to fill are software engineers and sales roles. Share of overall jobs still open after 90 days
  • Of all roles open beyond 90 days, 37% of these role are sales
  • Sales role take 89 days on average to fill, software roles take on average 94 days to fill
  • Globally, Australia is #7 destination for talent by global job-seekers, Sydney is the 15th largest by GDP and #4 as far as a destination for talent
  • At present, 24.9% of Australian job seekers are open to jobs outside of Australia
  • Highly skilled roles are getting harder to fill, today 13.5% of all roles are open for 90 days+. There are slightly more chronically unfilled roles in Sydney 14.4%
  • Work is becoming highly specialised, in any one day there are 91,000 unique job titles on Indeed in Australia
  • Average time to hire has increased significantly over last 5 years from 42 to 63 days
  • People looking for jobs are younger, more educated, socially active and more informed than ever before
  • A greater % are actively looking for jobs. 84% actively look, 63% look monthly, 16% never look for jobs
  • Seek receives over 1 million visitors each day
  • Skills shortage is increasing and unfilled roles (i.e. sales and software roles) have a significant drag on revenue and innovation

Future Predictions:

  • Public sharing platforms are becoming important influencers for applicants – e.g. Glassdoor
  • A move away from “post and pray” online advertising and an increase to niche and tailored sourcing
  • Traditional methods of applying to jobs (CVs and position descriptions) will become obsolete via mobile technologies – more conversations (i.e. LiveChat) and less written applications and detailed CVs
  • Traditional CV reviews being replaced by technology – Videos, algorithms, robotics (Chat Bots) and artificial intelligence
  • Stronger education and advice to applicants to assist, educate and manage expectations on timeframes and “what happens next”
  • With the move to freelance and contracting work, and focus on skills (projects) rather than jobs, traditional organisation structure will dramatically change and need to be agile
  • Online Social interactions will be critical, informal collaboration and multi directional communication will lead the way in talent acquisition

Contact us to hear how we are meeting these challenges: info@orchardhro.com.au