Is it time to polish that resume? Photo: Shutterstock
If you have been considering a new job for some time, now is the perfect time to send in this application.
Unlike three years ago, when employers received dozens of applications for each position advertised, your chances of landing this new role have now increased dramatically.
Compared to 2019, the number of applications received per job in 2022 fell by 47%.
Kendra Banks, chief executive of the Seek ANZ job market, said information age job vacancies are at record highs and supply is struggling to keep up with demand.
“Companies in all industries need talent, and with candidates in short supply, recruiters are looking for new and inventive ways to attract the right people,” she said.
“With more options available to them, candidates don’t need to apply for as many jobs as they might have had in the past to be successful, leading to a further drop in applications.”
Last month, job postings rose 2.9% month-over-month, making April the fourth consecutive record month for new job postings on Seek.
ICT roles increased in all states and territories except Tasmania (down 1.4%).
“We have traditionally expected job posting growth to decline over the Easter period, but this year continues to buck all trends with job postings once again hitting record highs,” Banks said. .
“Applications per vacancy, however, remain significantly lower than pre-COVID levels, making it even more important to understand what workers are thinking and feeling.
“Our research shows that candidates’ sense of optimism about their job prospects and their control over their working life is higher than ever before, which, given the past two years, is significant.”
Overall, job postings increased by 22.5% compared to the same period last year.
Dash for cash
The days of watching ads on LinkedIn and desperately seeing over 50 or 100 applicants for a job may be over for now, putting job seekers in the driver’s seat.
“Candidates hold a lot of the power in this tight labor market,” Banks acknowledged, “and if they can prove they’re a good fit, they should be in a really good bargaining position.”
Potential employees are enticed to join companies with a stack of goodies on offer.
“Signing bonuses, salary increases and negotiable flexibility are just some of the ways job offers are changed,” Banks said.
“There has never been a better time to be a candidate.”