The IAB has seen a marked drop in job vacancies in the digital advertising sector year-on-year, with junior roles hit the hardest (lead image: Gai Le Roy, IAB Australia CEO).
The Australian digital advertising and ad tech industry job vacancy rates have dropped from 11.8 per cent in July 2022 to just 4.5 per cent in July 2023 according to the IAB Australia- 2023 Industry Talent Report released today.
Demand for entry-level employees has also plummeted from 27 per cent of job openings to just 14 per cent, with organisations instead seeking more experienced and commercially driven leaders.
The vast majority of open roles are currently for sales managers and sales strategists, with companies focusing on driving revenue and seeking ways to stand out from their competitors.
While the Report found no evidence of any organisations planning to significantly increase their workforce over the next six months, it did find cautious optimism, with more than half of companies looking to make modest increases to staffing levels.
Despite the vacancy rates dropping, the average salary increased 4.2 per cent in the 12 months to July 2023. Whilst this is down from 7.6 per cent in the preceding year, Australia remains a premium job market thanks to the cumulative increases in digital advertising specialist salaries over the last few years.
The impact of AI on the industry is already being felt with more than half of all organisations working on using AI to increase the productivity of their current team or to improve their products. Just 10 per cent of organisations anticipate staff reductions or restructuring over the next 12 months as a result of integrating AI-driven efficiencies in their organisations.
Gai Le Roy, CEO of IAB Australia commented “The 2023 digital industry and ad tech talent market has undergone a significant shift in the last year, moving from a market that was desperate for talent last year to vacancy rates that are close to 2020 levels. Most companies are currently focused on hiring gun talent that can drive commercial outcomes however the intent is to open more roles in coming months.
“On a personal note I am thrilled with the continued growth of women in senior leaderships roles in the industry as well as so many companies following through on their intentions to introduce environmental and sustainability policies,” said Le Roy.
The Report also found
- An increase in women holding senior management roles (from 26 per cent in 2022 to 38 per cent in 2023) and broad parity across commercial roles (49 per cent). Women in technical and engineering roles increased from 13 per cent to 18 per cent, while women in product roles reached 44 per cent, up from 36 per cent in the preceding year.
- Diversity, equity, and inclusion (DE&I) policies are present in 86 per cent of organisations. Those that do not yet have policies in place tend to be smaller or newer organisations.
- Gender is the most common factor in these policies
- Neurodiversity is the least common factor, followed by age.
- Environmental and sustainability policies have now been adopted by 75 per cent of organisations – up from 41 per cent in 2022. A further 15 per cent are planning to introduce a policy shortly.
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