According to Talent’s latest findings, the global digital and technology job market has soared to up to 145 per cent above pre-COVID levels.
Quality candidates are inundated with opportunities, with multiple offers frequently at play. Talent’s Global Digital & Technology Hiring Market report provides insights from across the hiring market, critical information about what top candidates are looking for, and advice for businesses.
The report revealed the below key findings in all markets across Australia:
- On average businesses are dramatically shortening the interview process in order to secure top candidates, reducing time to fill by up to 36 per cent.
- Active candidates are receiving 2.7 job offers on average.
- Counteroffers are increasing by up to 20% with businesses offering more money and internal promotions to retain top talent.
- Salaries are increasing by up to $20,000 – $30,000 and contract rates by up to $100 – $200 a day. This is a 30% increase from the month of March.
- Flexible work ranks second in the list of top requirements for candidates, following remuneration.
Matthew Munson, Talent General Manager Sydney, commented on the findings. “The world is seeing a massive change in the hiring market; unlike anything we’ve seen for a long time. We have not seen a market heat up like this in over 20 years. The COVID recovery is well and truly underway”.
With the market bouncing back from COVID, candidates are not afraid to look around for new opportunities. “Melbourne has seen a 45% increase in job opportunities since the start of 2021” commented Simon Yeung, Talent General Manager Melbourne.
The report found that flexibility can be a deal-breaker, is influencing a candidate’s decision to accept a role, and they may refuse interviews if they cannot get a clear answer up front. According to Recruitment Outsourcing specialist, Tom Mackintosh, GM of Talent Solutions, remote work ranks second in the list of top requirements for candidates.
Following on from this, the report lists the top requirements that candidates are looking for. These include:
- Compensation & benefits
- Opportunity to work remotely/from home
- Technology/languages or frameworks used
- Professional development opportunities
- Environment & culture
- The industry
- How widely used or impactful the company product/service is
- The culture of the specific team worked in
- The financial performance of the company
- The diversity of the company
The report also covers findings from the UK, US and Germany who are all seeing a rise in demand.
