The new financial year always brings fresh activity to the job market as organisations set goals and targets, allocate projects and create roles.
For organisations, it’s a great time to recruit quality staff. For individuals, it’s a valuable time to explore different career pathways.
Many companies have finalised their budgets for the coming financial year and have either commenced hiring or will do so soon to set themselves up in the new year, reach targets and achieve their growth goals.
With this increased activity in mind, here are some insights about the current market and opportunities you can expect to see in the new financial year.
Across the board, recruitment advertisements are increasing. We’ve seen this both in heightened demand at Coceptive Recruitment and job boards generally. At the same time, candidate enquiry is also multiplying. In addition to receiving many online enquiries, our team has been fielding up to 170 calls in any given day!
It’s positive to see all states and territories have broken job ads records and demonstrated strong month-on-month growth as market confidence returns throughout Australia from COVID.
In Canberra, this growing business confidence is the result of continued relaxation and removal of restrictions, and no further lockdowns. Canberra has remained relatively stable compared to other capital cities, and we anticipate seeing this trend continue.
In the local job market, however, while we’ve seen increased roles being advertised, candidate activity is outpacing hiring demand. Coceptive Recruitment has been working harder than ever to support candidates and match them with the right opportunities.
Additionally, we’ve received strong enquiry from businesses in rural towns throughout the region that are looking to entice capital city talent. Candidates considering a sea change interested in such roles can enjoy a more relaxed lifestyle and benefit from still living in proximity to the city.
Coceptive Recruitment engagement rates
In reviewing analytics from the past month, we’re pleased to share we’ve received seven times higher engagement rates on job advertisements than competitors. We’ve also seen a 19% increase in candidate views and an 8% increase in click through rates. Our advertisements are receiving 15% higher application rates than industry averages.
This positive data further demonstrates our shared commitment to supporting local people and businesses.
Industry activity and popular roles
Anecdotally, we’ve seen strong demand and activity across industries, particularly construction. This is also reflected in job board data.
According to Seek, for the third month running, every industry has seen month-on-month growth. The top three industries making a positive contribution to the growth of job ads are hospitality and tourism, trades and services, and manufacturing, transport and logistics.
We are also seeing many administrative roles being posted across industries and applications rise. This trend will likely continue as we see government contract roles draw to an end and people transition to the private sector for more long-term security.
Solid demand for temporary recruitment
Many organisations are looking to take the stress and pressure out of finding a temporary workforce. At Coceptive Recruitment, we’re meeting this demand by branching into temporary recruitment.
If you’re looking to hire a new team member on a casual, short-term, or long-term basis, we’ll give your businesses the stability and consistency you need, so you can focus on running your business. If you need to engage in temporary recruitment services now or in the future, get in touch with our knowledgeable team and we’ll help you find the best temporary workforce you can count on.
Finally, this time of year is a useful opportunity for reflection. You may like to take stock on areas you’ve been doing well, and areas you need support. Many organisations have been reaching out to Coceptive Recruitment to market their vacancies, create a positive candidate experience, and find their ideal new team member. We’ve also been supporting candidates to put their best foot forward, find new opportunities and take the next steps in their career.
For our team, we’ve been reflecting on and refining our processes to support local people and businesses in the best way possible. We’ve been proud of our achievements this financial year, including receiving industry accolades in the Australian Small Business Champion Award, RSCA Rising Star Award, and Canberra Local Business Award.
We’d like to take this opportunity to wish you all the best in the new opportunities you decide to take advantage of this new financial year.