If you’ve been eyeing a new job for a while, now is the perfect time to send in that application.
Unlike three years ago when employers were receiving dozens of applications for each advertised job, your chances of scoring that new role have now increased dramatically.
Compared to 2019, the number of job applications received per job in 2022 has plummeted a massive 47 per cent.
Kendra Banks, Managing Director at employment marketplace Seek ANZ, told Information Age that job ads are at record levels and supply is struggling to keep up with demand.
“Businesses in all industries are in need of talent and with candidates scarce, hirers are looking at new and inventive ways to attract the right people,” she said.
“With more options available to them, candidates do not need to apply for as many jobs as they might have in the past to be successful, which is leading to a further decline in applications.”
Last month, job ads rose 2.9 per cent month-on-month, making April the fourth consecutive record month of new ads on Seek.
ICT roles increased in every state and territory except for Tasmania (down 1.4 per cent).
“We would traditionally expect a decline in job ad growth over the Easter period, yet this year continues to buck all trends with job ads again reaching record levels,” said Banks.
“Applications per job ad remain significantly lower than pre-COVID however, making it even more important to understand what workers are thinking and feeling.
“Our research shows that candidates’ feelings of optimism in their job prospects and control over their working lives is higher than it ever has been before, which, given the past two years, is significant.”
Overall, job ads were up 22.5 per cent from same time last year.
Dash for cash
The days of looking at ads on LinkedIn and despairingly seeing more than 50 or 100 applicants for one job may be behind us for the time being, putting jobhunters in the driver’s seat.
“Candidates hold a lot of the power in this tight job market," acknowledged Banks, "and if they can prove that they are a good fit, should be in a very good negotiating position.”
Potential employees are being lured to join businesses with a stack of goodies on offer.
“Sign-on bonuses, salary increases, and negotiable flexibility are just some of the ways job offers are being tweaked,” Banks said.
“There has never been a better time to be a candidate.”