How can you attract the best in tech, transformation and beyond? In 2024, the hiring market is shifting. With more and more candidates on the market as a result of company cost cuts and layoffs, employers are increasingly finding themselves in a position of power. However, with the global tech skills shortage sticking around, demand for hard-to-find, highly skilled talent isn’t going anywhere. So, if you want to bring the best on board, here’s what you need to know:

1. Ensure flexibility is still on the table

Top tech candidates are still seeking flexibility from their employers, so it’s important that this is on offer. If you want to bring the best in tech on board, meeting your people’s needs when it comes to flex work is key. Where you can’t offer remote work, what else can you bring to the table to ensure your people feel supported? Think – flexible start and end times, school drop off and pick up times, and compressed work weeks.

Uncover more about what you can offer your people when it comes to flex in our blog that dives into all that’s happening with flexible work in 2024.

2. Offer opportunities for progression

One of the biggest things jobseekers are searching for when it comes to a job is the opportunity for career progression and development – in fact, a 2023 Talent survey of over 500 tech candidates revealed that it matters most to almost half (48%) of these professionals when looking for a job. Our recruitment experts have also noted that candidates are starting to ask about progression opportunities with prospective employers from the get-go. Talent Adelaide’s Taliya Lukeman notes, “employers are being asked about progression opportunities more directly in interviews or through us”, meaning if you want to attract the best, you need to be making these opportunities clear upfront. Highlight the journey a candidate can have with your company and the development opportunities on offer, to help them see a future with you.

3. Consider your ESG commitment

Tech candidates are more conscious of their environmental and social impact than ever, so much so that it even influences their working life, seeing jobseekers looking to align with companies whose values in this space match their own. In fact, 59% of tech candidates have said that a company’s commitment to environmental sustainability influences their decision to accept a job offer. If you want to attract the best, CSR and ESG initiatives should be a priority for your company for the year ahead.

Not sure where to start? Check out our Sustainability: Awareness to Action Insights Report to hear from jobseekers themselves on what they’re seeking.

4. Prioritise your company culture

Your company culture can make or break a candidate’s decision to work with you. According to a Talent survey, 76% of tech jobseekers cited that a positive company culture matters most to them when looking for a job. Building a strong and inclusive working environment is key to this – whether it’s delivering on perks that your people want, ensuring there’s transparent business communication, or making sure DEIB is prioritised, it all makes a difference to your people. Talent’s People & Culture Lead, Georgia Townsend, shares her advice on building a leading culture “what we’ve found is the best way to get the most out of everyone, driving engagement and keeping our culture alive, is to truly understand what drives our people. For example, what are they really looking for out of flexibility? How can we marry that to business needs to optimise business performance? The magic answer is that not one size fits all. And what works now didn’t work one year ago and may need to be revisited in a year’s time.”

Uncover how business leaders across the globe are leading the way when it comes to company culture in our podcast series here.

But remember: a strong company culture isn’t something that only extends to your permanent employees. Ensure your contractors feel involved too – after all, they are seeking connection with your company and a sense of belonging with permanent teams. A happy workforce is a productive workforce, so create this inclusive culture and you’ll be reaping the rewards.

5. Use a dedicated recruiter

At Talent, we’ve been working with top tech talent since the birth of Javascript. For over 25 years, we’ve placed thousands of professionals across almost every sector to the world’s leading companies – and we can help you too. Get in touch to uncover how we can find you the best tech talent for your teams.

Do you ever feel like your talent acquisition efforts are trapped in a perpetual cycle of justifying expenses rather than driving real business impact? As a leader in Talent Acquisition, navigating the perception of your department as a mere cost centre can be frustrating, especially when you know the strategic value you bring to the table. But what if there was a way to break free from this paradigm and showcase the true commercial driver that talent acquisition can be?

In the ever-evolving landscape of business operations, the role of talent acquisition has often been relegated to the sidelines, seen as a necessary but heavy expense, particularly during economic shifts. However, this mindset not only undermines the potential of your team but also poses significant risks to your organisation’s agility and long-term success.

Through many years working with leaders like you across all industries, we and our partners at SmartRecruiters have seen firsthand the challenges many face when it comes to getting a seat at the table.

So, how can you shift this narrative and position yourself as an indispensable partner in driving business outcomes?

It begins with understanding the current state of your TA function through a comprehensive audit and being open to change. Transforming your TA requires a shift in mindset – it’s not merely about filling roles but about becoming strategic drivers of business outcomes.

Instead of framing your TA as an expense or cost centre, it’s vital to portray it as a commercial driver that directly influences business success. Ensure that you measure what matters to the C-suite and directly align your metrics with organizational objectives. These can include: hiring velocity (i.e. on time), quality of hire, hiring budget, offer acceptance rate, hiring manager satisfaction, employee turnover rates, and diversity and inclusion metrics.

By focusing on these metrics and presenting data in a clear and compelling manner, you can effectively demonstrate the strategic value of talent acquisition to the C-suite. It’s not just about filling roles; it’s about driving business outcomes, fostering innovation, and ensuring long-term success. Embracing this holistic approach positions you as an indispensable partner in shaping the future of your organisation.

Additionally, beyond metrics and data, cultivating relationships with key decision-makers is paramount for you to influence strategic initiatives. This involves not only demonstrating the value of your TA through metrics but also fostering open communication channels and actively participating in strategic discussions. By building trust and credibility with decision-makers, you can influence decisions related to resource allocation, technology investments, and organizational priorities. Additionally, showcasing success stories and highlighting the direct impact of talent acquisition initiatives on business outcomes can further solidify your position as a strategic partner.

Ultimately, by measuring what matters, actively engaging with decision-makers and influencing strategic direction, you can elevate the role of talent acquisition and drive meaningful business impact.

Ready to transform your startup hiring strategy? Contact us today to learn how Talent Solutions and SmartRecruiters can help you achieve hiring success in your business.

Achieving mastery in this concept requires alignment across several fronts: your TA team, your business leaders, your processes, your technology stack, and your employer brand. When all these elements work in sync, the reward is access to a sustainable “river” of talent that’s readily available when you need it most.

Now, you might be wondering how to implement this approach effectively within your organisation. Here are a few strategies to consider:

• Get your execs on board with a more fluid way of working: Talent rivers carry talent in and out of your organisation. They enable on-time and on-budget hiring, so long as the business is equipped to embrace dynamic resourcing. What’s this look like in practice? It means challenging default tendencies, like always replacing a permanent leaver with a new permanent hire. Or hiring a full-time role because “it’s what we’ve always done”. This isn’t just about changing how work is being done, it’s about making you don’t miss out on the best-fit talent just because their work preferences don’t happen to perfectly match yours.
• Continuous talent sourcing: Adopt a proactive stance towards talent acquisition by continuously sourcing and engaging with potential candidates, even when you don’t have immediate openings. Leverage tools and platforms that allow you to maintain ongoing relationships with talent.
• Strategic talent mapping: Identify key talent segments relevant to your organisation’s current and future needs. Develop targeted talent pipelines to ensure a steady influx of talent in critical areas.
• Enhanced candidate experience: Focus on delivering a positive candidate experience throughout the talent acquisition process. This includes personalised communication, transparent feedback, and streamlined application processes. This is especially important when building advocacy among your candidates or hoping that contingent workers will return in the future.
• Employer branding: Cultivate a strong employer brand that resonates with your target talent pool and ensure you are front of mind whenever your needs match . Highlight your organisation’s values, culture, and opportunities for growth to attract top talent.

By embracing the concept of talent rivers and implementing these strategies, you’ll be better equipped to navigate the dynamic landscape of enterprise hiring.

Ready to equip yourself with the latest tactics to build top-tier teams? Check out our Beyond the basics: Hiring guide for enterprise leaders and get in touch with us.

In the fast-paced world of hiring, the adoption of an Applicant Tracking System, ATS, can make or break the recruitment process. As we navigate through the biggest challenges of hiring in our Beyond the basics: Enterprise hiring guide, it’s crucial to address the common pitfalls that enterprise leaders face and give our advice to navigate these challenges with ease.

Here’s how you can get ahead:

Insist on integration: Look for an ATS solution that offers scalability and flexibility to adapt to your evolving requirements.  Ensure that your ATS can seamlessly integrate with other essential tools in your tech stack and ones that may be added in the future. These integrations go both ways – into core enterprise tools like HRIS/HCM and communications platforms, as well as into complementary applications catered to specific steps of the talent acquisition and management lifecycle. Prioritise solutions that support APIs or offer pre-built integrations with popular third-party applications. This approach minimises data silos, streamlines workflows, and enhances overall efficiency.

Workshop the needs of all stakeholders: It might sound simple, but too often examples like poor candidate experiences or a perceived lack of ATS reporting capability are a result of not taking the time to consider the needs of every stakeholder along the recruitment journey. So long as it’s correctly configured from all perspectives, the right ATS can be a catalyst for industry-leading candidate experience, recruiter productivity and strategic workforce planning all at once.

Consider the big picture when considering AI: There is a trend among newer ATS market entrants to major on their AI-enabled capabilities. Other players are incorporating AI in pockets of their platform. Needless to say, there are some transformative pieces of software out there. But, in 2024, AI is not quite the be-all and end-all some industry commentary would have us believe. Following on from the point above, do your due diligence to ensure that your chosen ATS can deliver across the entire hiring lifecycle, uses AI in the places that make sense for your needs, complements your business tech stack and is backed by reliable supporting infrastructure from a service perspective.

Conduct regular health checks on your ATS set-up: Did you take note of your ATS provider’s latest product release? Do you have a plan for how you’ll utilise these new features to enhance your current processes? Don’t fall into the trap of set-and-forget. Instead, stick to a regular cadence of quick system once-overs and build continuous improvement into BAU to ensure you’re not missing out.

Get in touch to find out how we can help you beat common enterprise hiring struggles.

When it comes to startups, you are who you hire. But getting hiring right can be incredibly challenging, especially if you’re a founder who has to wear many hats. While navigating the hiring process can be complex, with the right knowledge and strategies, you can assemble an extraordinary team to propel your venture forward. Through many years working with startups and scale-ups at all growth stages, we and our partners at SmartRecruiters have seen firsthand the common pitfalls that they typically encounter in the hiring process. Here are some of the key hiring considerations for startup founders:

1. Maintaining culture during rapid growth and change.

One of the biggest challenges for startups is maintaining their unique culture as they rapidly grow and undergo changes. It’s crucial to ensure that as new team members come on board, they align with the company’s values and mission. Founders must actively foster a culture of transparency, communication, and inclusivity, even as the team expands. Regular check-ins, team-building activities, and clear communication of company values can help reinforce the desired culture.

2. Effective workforce planning: getting the right skills in at the right time.

Workforce planning is essential for startups to ensure you have the necessary skills to drive their growth. Identifying skills gaps and prioritizing hiring accordingly is key. Founders often find it challenging to delegate hiring decisions, but empowering leaders within the organisation to make informed hiring choices based on the skills the business needs can streamline the process and ensure the right talent is brought on board at the right time.

3. Building an employer brand.

Developing a strong employer brand is vital for attracting top talent to a startup. Startups often lack the brand recognition of larger, more established companies, making it crucial to articulate a compelling vision and value proposition for potential employees. Founders naturally have incredible passion for the work their company is doing and their vision for the future. We understand that harnessing this energy into a standout brand presence among your potential future employees isn’t an easy task when you’re also trying to build a brand to attract customers and investment, too. Nevertheless, it’s an essential activity and we recommend a focus on showcasing the company’s culture, mission, and opportunities for growth. It’s also important to “pull back the curtain” and give prospective candidates an idea of what it’s really like to work with you. Informal “day in the life” style content is very effective for quickly accelerating your employer brand.

4. Implementing and maintaining the right tech stack.

Choosing and managing the right recruitment and HR technology stack is essential for startups to operate efficiently and scale effectively. It’s essential to select technology solutions that can adapt and grow alongside the business. Whatever you choose to implement, make sure the analytics capability provides valuable insights into the effectiveness of hiring processes and enable data-driven decision-making. Additionally, ensuring that there are dedicated resources to manage and maintain the technology stack prevents it from becoming a burden on existing team members. As we say, just because you can drive a Ferrari, doesn’t mean you can service it.

Ready to transform your startup hiring strategy? Contact us today to learn how Talent Solutions and SmartRecruiters can help you achieve hiring success in your business. And check out our A-Z Hiring Guide for startups for even more top tips.

What’s the latest when it comes to the permanent and contract hiring markets across Australia and New Zealand? With a slowing market as a result of an economic downturn, the hiring landscape is shifting. We explore the latest trends in hiring across both groups, providing you with an exclusive look into what to expect for the year ahead.

A preference for perm

As a sense of uncertainty permeates the market, jobseekers are looking for greater stability in their roles, with many seeking out permanent or fixed term positions for greater job security. In fact, in a 2023 Talent survey, 34% of contractors cited that they were open to future permanent opportunities.

Katie Kemp, Talent Wellington recruitment expert sheds light on how this is playing out in New Zealand, “With cost-of-living pressures and post-election flow on, there’s an element of uncertainty for people and an increased focus on security in their work. The last six months or so has seen hesitation in the market coupled with work programme cancellation and an increase in the number of people available for this work. This combined with the pre-election dialogue on contractors and consultants saw some movement toward permanent roles for this sector and downward pressure on contractor rates”.

Stefanie Mortimer, Talent Auckland recruitment expert, also observes that jobseekers are seeking out greater stability in work and are opting for roles with longer tenure, “Stability and security continue to be important to candidates and longer-term contracting opportunities are much preferred.” In Australia, there’s a similar trend amongst contractors, with Talent Melbourne Managing Director, Simon Yeung predicting that, “Career contractors will look at permanent opportunities for security.” This desire for stability has seen a shift towards a preference for longer term or permanent working arrangements, particularly with rising cost of living pressures and an uncertain market.

Cuts to contractor spend

Looking at the contracting market, contractor spending cuts are occurring across a number of our regions. In NZ in particular, the government has announced plans to cut contractor spending over the next 4 years, with the goal of reducing current spend by 18%. Resultantly, the contractor market is starting to slow, seeing greater demand for permanent candidates instead. Looking at Talent’s hiring data from October 2022 to October 2023, federal and state government layoffs and hiring freezes across Australia have resulted in a 16% decline in contract hiring in this sector.

Talent Sydney Managing Director Matthew Munson comments on where spending cuts are occurring and the impact this is having on the local market, “The NSW Government continues to look to make savings through contingent workforce cuts. Some Government agencies have looked to make savings by implementing a max two-year tenure rule although this isn’t working too well as they struggle to backfill the IP with permanent employees or fixed term engagements.”

In New Zealand, it’s a similar story, with Georgia Hynes, Talent Wellington recruitment expert noting the effect of these cost-cuts and how organisations are attempting to keep their best people on board, “Demand for candidates is down and many contractors are not being extended. Government departments are also working on reducing contractor spend. Employers understand that career contractors are likely to want to go back to contracting once things pick up, so they’re more likely to come out with fixed term roles to prevent a sudden loss of IP.”

Looking ahead: what to expect from the employment market

What can we expect in the hiring market for the year ahead? Talent Melbourne Managing Director, Simon Yeung, observes that, “Employers, grappling with the need to curtail contractor expenditures and adhere to budget constraints, will encounter challenges in securing the necessary talent and expertise. As a response, some employers are transitioning contractors into permanent roles, although this may introduce retention issues as candidate rates fluctuate.”

The market however, looks to be recovering, with Talent Sydney Managing Director, Matthew Munson, noting that, “There are some positive signs the economy is finally improving, suggesting that investment and hiring will begin to recover in 2024”. What does this mean for both the permanent and contract hiring landscape? It’s anticipated that economic improvements will have a positive impact, seeing a steadying of both markets.

If you’re looking for top contract or permanent talent to join your team in 2024, we can help. Working with professionals in tech, transformation and beyond for more than 25 years, we’ve learned a thing or two about what they want. Get in touch to uncover how we can help you build world class teams.

It’s time to work smarter, not harder, when it comes to hiring top tech talent in financial services. If you’re looking to cash in on top candidates in this industry, there are a few things you need to know first. We dive into the best practices you can follow to bring top professionals on board.

First things first, a little background…

While financial services was traditionally known as a well-paying industry, strong competition from other industries, such as tech and government, are driving salaries up, seeing the financial services sector struggling to compete on salary alone.

Talent Sydney Financial Services Practice Manager, Chris Huggett, weighs in:

“The financial services industry has changed significantly in the last two decades. Mergers and de-mergers, banks exiting from the wealth industry, legislative changes and the royal commission have all generated significant programs of work. As these programs finish and with less legislative and M&A activity on the horizon, competition for key SME financial services talent has diminished. With financial service organisations seeking to protect their profit margins and shareholder dividends, rate cards and salaries have remained at similar levels, typically at or slightly below market rates. On top of this, the digital age has created further competition for top talent, with local tech companies offering more attractive salary packages and employee benefits, combined with industries such as state and federal government substantially increasing their remuneration in order to attract top talent.”

So, how can you get ahead?

Here are our top hiring tips:

1. Know what tech experts want

To secure top candidates, financial services companies can’t solely compete on salary and need to be offering more. When it comes to what top candidates want, they are looking for interesting projects and the ability to develop their skills. They want to meet their personal and professional goals through mentorship, guidance, experience and ongoing learning opportunities. In fact, 85% of surveyed tech contractors said opportunities for exciting and meaningful work were most important to them when looking for a job.

Today’s tech workers also place great value on who you are as an employer. They prefer flexibility, particularly work-from-home options, and won’t compromise on unflinching company values and culture. Your EVP should be a reflection of this – for example, sustainability and diversity always being part of your decision-making processes.

Uncover more about what top professionals in tech, transformation and beyond are seeking, in our More Than Money Salary Guide 2024.

2. Prioritise your wishlist

When looking for the right person, it’s important to be realistic in your expectations – especially in today’s tech hiring environment – to ensure you don’t chase off potential applicants by asking for too much. For example, Talent NY recruitment expert, Jason Pho, recommends looking for “demonstrated continual learning and professional development in the tech space.” Here are a few other things that might make it onto your wish list:

Experience:

• Has the candidate worked in similar roles?
• What were their responsibilities?
• Have they got experience working in a highly regulated business?

Skills:

• Does the candidate have proven skills in basic areas – such as communication and organisation – as well as more complex topics such as programming or cybersecurity?

Professional development:

• Has the candidate demonstrated continual learning, whether through ongoing education or on-the-job training?

Certifications:

• Does the candidate have relevant industry certifications such as Certified Information Systems Security Professional (CISSP)?

3. Consider different types of talent

Depending on your business needs, you may be in search of long-term team members in the form of permanent professionals, or maybe you have a short-term project and need people on board for a shorter period of time. Remember to shape your recruitment practices and agreements around these unique circumstances where relevant; for example, you may need to tighten up your EVP to explain how contract workers will profit in a short-term relationship with your business, whereas permanent employees will want to see the bigger picture.

4. Use a dedicated recruiter

From the rise of blockchain and robotic process automation, through to the ever-growing focus on data in financial services, you need skilled candidates to take the helm of your digital transformation projects – and you need them quick stat. A dedicated recruiter can help you find the people you need at speed.

At Talent, we know a thing or two about sourcing candidates who understand the ins and outs of working in a regulatory environment (and who can keep up in a rapidly changing landscape).

Whether it’s a business analyst, change manager, or software professional you’re after, we can help. Placing top tech professionals in leading financial institutions such as NAB, BNZ and IAG, you can bank on us to deliver the right candidates for your needs every time.

Ready to cash in on a network of top talent? Reach out to Talent today.

Digital transformation is taking over and is key to business growth. If you’re about to embark on a digital transformation project – be it cloud migration, updating legacy systems, integrating AI, or locking down your cyber defences – you need the right people to guide these forward. Not sure where to start? Read on for our top tips on building world-class digital transformation teams.

1. Develop the scope & objectives of your digital transformation project

It’s important to establish the objectives of your transformation project from the outset. Which areas of your business will be affected, what are you hoping to achieve, and how will you measure success? Ensure your objectives are realistic, achievable and measurable, and determine the resources you’ll need in the way of people, tools and time, to bring this to life. As with any project, create a project plan, be clear of the project scope, and put numbers and outcomes to your objectives to track its success. Once you’ve got that down pat, you’ll want to start planning your strategy for sourcing the people who will go on the transformation journey with you. That means assessing your project plan to…

2. Identify the skills you need

What skills do you need in your team to successfully deliver on digital transformation? Maybe it’s offensive security and SOC skillsets for your cybersecurity project, or cloud infrastructure and data engineering competencies for your cloud migration project. Whatever it may be, determine what’s needed to bring your project to fruition, take stock of the skillsets of the people currently available to you, and determine where the gaps lie. It may be a matter of upskilling your current team members, or maybe you’ll need to start from scratch and recruit new talent. Observe where the gaps are and…

3. Determine who you need to hire

Once you’ve established the skills you need to successfully execute your digital transformation project, it’s time to bring the right people on board. For your cybersecurity project, you may have determined that you need to hire a SOC Manager with strong stakeholder management skills as well as technical knowledge in IDS (Intrusion Detection Systems) and SIEM (Security Information and Event Management) systems. Or maybe you’ve determined that you need an experienced Business Intelligence Architect and Data Modeller for your data management project. You’ll also want to consider the project length and how this will affect the type of talent you’re after. Is it a 12-month project that you only need contractors for, or something longer-term where you’ll require permanent employees who can lead the charge and continuously monitor and improve systems?

Uncover more about contract recruitment here and permanent hiring here to determine the type of talent that would best suit your project team.

Once you’ve determined the skills and people you need, it’s time to find them. But first, to really get ahead in the employment market, you’ll want to…

4. Develop a strong EVP and employer brand

You’re almost ready to embark on your search for top talent, but if you want to bring the best on board, it’s important to firstly have a strong EVP (Employee Value Proposition) and employer brand which makes jobseekers want to work with you. The key to developing a strong EVP is knowing what top candidates are searching for and delivering on it. According to a Talent survey of over 500 tech professionals, the opportunity for exciting and meaningful work matters most to 85% of jobseekers, alongside the opportunity for career progression and development, which is important to almost half (48%) of respondents when searching for work. Ensuring that you’re offering engaging work to your people, as well as opportunities for development with your company, is key if you want to attract – and retain – the best. Alongside this, flexibility is also essential. A Talent poll revealed that work flexibility even surpasses a competitive salary when it comes to what matters most to candidates when looking for a job – 35% noted flexibility as the most important, followed by 29% citing salary. Deliver on what your people want – and promote it! Developing a strong employer brand which showcases your EVP will help you to attract those top candidates. Once that’s established, you’ll be ready to…

5. Embark on your candidate search

Top talent for your digital transformation projects is out there, but isn’t always easy to find. To source professionals with the skillsets you’re after, consider posting your open positions on job boards, attending industry meet-ups, and asking for referrals. Sharing vacancies on your company’s career hub is also a great strategy to not only highlight open roles, but to also showcase your employer brand and demonstrate why top candidates should work with you. Running a transformation project is time consuming though, and hiring is no easy task. So, a quick and surefire way to bring top talent into your teams, allowing you the time back to focus on what you do best, is to…

6. Use a dedicated recruiter

From their industry connections through to their access to wide pools of top talent, a dedicated recruiter can do the heavy-lifting for you when it comes to hiring, helping you find the people you need at speed.

At Talent, we can help. Working with top tech talent since the birth of Javascript, we know a thing or two about recruitment. For over 25 years, we’ve placed thousands of professionals in tech, transformation and beyond, across almost every sector to the world’s leading companies. Whether it’s a business analyst, change manager, or software professional you’re after for your digital transformation team, we’ve got you sorted. Reach out today.

Are you looking to hire in 2024? Here’s all you need to know to navigate the complex employment landscape across Australia and New Zealand. Our recruitment experts share their insights and predictions to equip you with the knowledge you need to get ahead.

2024 recruitment trends

1. The scales of power are tipping

Is it an employer’s market or a jobseeker’s market? Well, it depends. Across ANZ, the tech hiring market is slowing down due to an economic downturn, which is seeing a number of companies cut costs and tighten their budgets – a stark contrast to the fast-paced, candidate-driven market of 2021-22. As a result, recruitment is slowing down across certain job families – especially Project Services – resulting in more candidates in the market than jobs on offer. Talent Sydney recruitment expert, Shane Hodgins notes “Where there has been a slowdown in the market is in the project services space – many companies are putting their projects on hold as budgets for IT projects are being cut. Generalist IT project managers are most affected by this.” In this space, we’re therefore seeing the scales of power start to tip in favour of the employer.

This doesn’t mean hiring managers hold all the cards though. For in-demand skillsets, such as cybersecurity, data, and artificial intelligence, candidates remain firmly in the driver’s seat as companies increasingly recognise the importance of securing their systems, leveraging data, and adopting AI. With more choice available for these jobseekers, Talent Sydney Managing Director, Matthew Munson, notes that while “we have seen the cooling of salaries across many job families, hard to find niche talent will always test the top end of what the market has to offer.”

2. In-demand roles are demanding dollars

With the market shifting in 2024, remuneration is also experiencing movement. According to Talent NZ Country Manager, Kara Smith, “cost of living and inflation increasing will continue well into 2024 and beyond. Candidates are seeking higher salaries to compensate for this, yet organisations are driving cost-conscious decisions.” Resultantly, many job families are seeing a slowdown in salary growth. In the domain of Project Services, salaries and contract rates have dipped by as much as 15-25% due to many companies placing their projects on pause in a bid to cut costs. However, this isn’t the case across all job families and positions.

The roles commanding the highest pay? Those in Cybersecurity, Data Analytics, and Cloud Solutions. Our Talent More Than Money Salary Guide 2024, highlights that Cybersecurity salaries have increased 25-35% since 2023 and Data Analytics 12-23%. When it comes to contract work, Cybersecurity rates are up 15-30%, Data Analytics 18-25%, and Cloud Solutions 10-25%. Talent Sydney recruitment expert, Shane Hodgins, comments on this trend “cybersecurity professionals are still in high demand. Hands-on technical roles such as penetration testers and security engineers, are highly sought after, and we’re seeing more roles in the market than candidates available. Resultantly, salaries have remained high at post-COVID levels for these candidates.”

3. Sourcing beyond borders is on the rise

In 2024, many companies are looking beyond national borders for candidates to fill their vacancies, particularly in tech and transformation. In Australia, our Talent recruitment experts note that large companies have increased their offshoring by an estimated 10-40%. Talent Sydney Managing Director, Matthew Munson, comments “a conservative estimate would say about 30,000 Australian companies offshore technical skills. It has accelerated over the last 12 months and the signs are that it will continue, because local salaries are very high, there is a skills shortage, and this move to remote work is making it a lot more appealing to hire people offshore.” In New Zealand, Talent Wellington recruitment expert, Georgia Hynes, also comments on the impact of remote work in enabling the sourcing of candidates from beyond national borders, “many organisations from the US and Australia are still dipping into the NZ candidate market for remote working, particularly in the developer space”.

4. Unemployment is up

In late 2023, both Australia and New Zealand’s unemployment rates increased to 3.9%, up from 3.8% and 3.6% respectively. With an uncertain economy, company layoffs, and growing cost of living pressures, there are more candidates on the market than before, seeing a stabilisation of salaries and contract rates in comparison to the candidate-driven market of previous years. Talent Wellington recruitment expert, Katie Kemp, observes that “COVID and the shortage of talent in the market saw people look to negotiate or secure higher salaries, however there is a level of market correction coming into play now, combined with organisations looking at their expenditure and relativities more closely”. Is this a trend that’s likely to continue? Our recruitment experts predict that…

5. The market will recover

It’s not all doom and gloom in the employment space. In fact, it’s anticipated that things will start to pick up when it comes to hiring. According to LinkedIn data, while the LinkedIn Hiring Rate in Australia decreased by 7.2% from January-June 2023, as of December 2023, it increased by 1.7%. Talent Melbourne Managing Director, Simon Yeung, predicts that over 2024, hiring will be on the up. “Looking ahead, the IT job market is anticipated to experience growth, fueled by the adoption of advanced technologies like AI, cybersecurity, and blockchain by Australian tech firms. The demand for skilled professionals in cloud computing, data science, and software development is poised to rise as businesses prioritise digital transformation.” In New Zealand, Talent NZ Country Manager, Kara Smith, also observes a shift in the market “As we enter 2024 the market is feeling more optimistic than the last few months of 2023”. She cautions “just like we saw post-COVID, businesses can only halt projects, investments, initiatives for so long. In a world where cybersecurity is a top priority, investing in tech teams is a worthwhile long-term strategy.”

Need a hand navigating this hiring landscape?

We can help. At Talent, we’ve been working with top candidates in tech, transformation and beyond, since the birth of Javascript. For over 25 years, we’ve placed thousands of professionals across almost every sector to the world’s leading companies. Let us help you get ahead in the recruitment market and connect you with a world of leading tech and transformation experts to boost your teams. Get in touch today.

Talent Acquisition is a tough gig. In today’s competitive job market, organisations face countless challenges when it comes to attracting, hiring, and retaining top talent. From navigating complex hiring processes to selecting the right technology solutions, the demands placed on TA professionals are greater than ever before.

That’s why our advisory and embedded talent acquisition arm, Talent Solutions, has partnered with SmartRecruiters. Through this collaboration we can empower organisations to overcome hiring challenges, optimise their people processes and technology, and ultimately achieve superior hiring outcomes.

People, process, tech, and brand

At Talent, we believe in the importance of aligning people, process, technology, and brand to create a seamless and effective talent acquisition strategy. Our friends at SmartRecruiters share this philosophy.

Here’s why these four elements are so crucial when it comes to attracting the best:

• People: Finding and retaining top talent is about more than just job postings and interviews. It’s about understanding your organization’s culture, values, and goals, and finding candidates who align with them. Without a clear understanding of your people needs, your hiring efforts may fall short.
• Process: A streamlined hiring process is essential for attracting and engaging top candidates. If your process is cumbersome or inefficient, you risk losing qualified candidates to competitors. By optimizing your hiring process, you can ensure a positive candidate experience and increase your chances of making successful hires.
• Tech: Technology plays a crucial role in modern talent acquisition, from applicant tracking systems to AI-powered recruitment tools. However, selecting the right technology can be daunting, and implementing it effectively is even more challenging. Without the right tech solutions in place, your hiring efforts may be hampered by inefficiency and inconsistency.
• Brand: Your employer brand is a powerful tool for attracting top talent. It’s not just about the perks and benefits you offer; it’s about the story you tell and the values you embody as an organization. Without a strong employer brand, you may struggle to differentiate yourself from competitors and attract the best candidates.

A powerful combination

Linking people, process, technology, and brand is essential for effective talent acquisition because it ensures alignment and cohesion across all aspects of the hiring process. When these elements work together seamlessly, organizations can attract, engage, and retain top talent more effectively, ultimately driving business success.

Our partnership with SmartRecruiters means we can help organisations achieve hiring success in more ways than ever before. By combining our expertise in advisory and embedded talent acquisition with SmartRecruiters’ innovative platform, we provide clients with the tools and support they need to build winning talent acquisition strategies. Together, we’re transforming the way organisations transform TA.

Ready to transform your hiring strategy? Contact us today to learn how Talent Solutions and SmartRecruiters can help you achieve hiring success in your business.

Ah, flexibility. If we had a dollar for every news article about work-from-home vs. office, we’d have enough money to buy a luxurious floating office in the middle of the Bermuda Triangle, where the debate would mysteriously disappear. Alas, the headlines don’t seem to be going anywhere, so we thought we’d collate some findings about what’s really happening in the job market. What does flexibility actually look like? What are hiring managers expecting as we head into 2024? And are candidates having to be, well, flexible, in their desired work arrangements?

Here’s what we found:

Flummoxed by flex

Recent articles about flexible work have reduced the topic to a binary, all-or-nothing debate about the office and work from home. The reality is flexible work is far more nuanced than that.

In fact, flexible work covers remote work, flexible hours, compressed workweeks, job sharing, part-time work, flexible scheduling, annualised hours, zero-hour contracts, hot desking, job redesign, phased retirement, flex places, and much much more. Phew!

According to Talent Sydney Candidate Manager Saqib Zia, flexibility is taking many different forms in newly negotiated roles.

“I’ve worked alongside many organisations that very much value work-life balance and offer it in different ways. For example, accommodating school pick-up and drop-offs, supporting other life commitments, or working irregular office hours. Flexibility may not always equate to work from home days, but instead, can be negotiated and shown through different arrangements.”

Mismatched expectations

So, what are job seekers and hiring managers expecting when it comes to flexibility in 2024? According to a survey of over 1,100 Australian employees, 45% would be willing to take a pay cut in exchange for flexible work. There’s no doubt that flexibility remains a critical item on job-seekers’ wish lists.

Talent Adelaide Candidate Manager Taliya Lukeman observes, “When it comes to candidates’ expectations of employers, flexibility with working hours and working from home is still important.”

The same goes for candidates in Queensland, with Talent Brisbane Candidate Manager Steph Rose observing: “Candidates’ main expectations continue to be flexible working arrangements from prospective employers, whether that be part-time, work from home, work your own hours, etc.”

In most cases, employers are happy to accommodate this flexibility.

According to Talent Wellington Senior Consultant Katie Kemp, “While employers are very much still embracing and offering flexible working to help support individuals’ circumstances, we are seeing more employers preferring that team members spend the majority of their time in the office, with 1-2 days from home.”

However, many hiring managers are expecting increased presence in offices.

“Within the past 10 months, I’ve increasingly seen a drastic change between a candidate’s ideology of what ‘flexibility’ is versus what’s currently out on the market. Candidates that are currently employed and experienced tenure during lockdown times, more often than not, expect a role to include 2-3 days WFH flexibility as a given,” says Talent’s Saqib Zia. “We’ve observed businesses go from a minimum 2-3 days in the office to a change of minimum 4 days in the office – and those expectations are set as mandates in many cases. From a business’s perspective, they are paying top dollar for office space, often in multiple geographical locations. Reasons cited by hiring managers for increased presence include re-igniting office culture and justifying spending costs.”

Moving beyond mandates

Amid increasing office mandates, many organisations are finding success in a balanced approach.

According to Talent Solutions Client Delivery Lead Jasmine Alderton, employers who have taken a people-first approach to their working environment are reaping the rewards when it comes to engagement and productivity.

“Giving people the flexibility to work in a preferred environment when required for ‘deep focus’ tasks whilst bringing them together in-office on days where collaboration is needed has boded well,” Alderton says. “There will never be a replacement for the information flow that happens when people are in the same room together, but allowing your people the flexibility to work from home will not only lead to being an outcomes-oriented environment but also give your people the opportunity to look after their well-being and remain competitive in attracting and retaining the talent you need for your business.”

Talent People & Culture lead Georgia Townsend says while it’s natural to want a buzzing office of activity, you can’t mandate a great culture.

“It’s not as simple as flexible working or not flexible working—the debate is constantly evolving far beyond a yes or no question. Like most companies, we have been through a number of phases of trial and error with what flexible working can look like. To find that sweet spot that five years ago seemed impossible. What we’ve found is the best way to get the most out of everyone, driving engagement and keeping our culture alive, is to truly understand what drives our people. What are they really looking for out of flexibility? How can we marry that to business needs to optimise business performance? The magic answer is that not one size fits all. And what works now didn’t work one year ago and may need to be revisited in a year’s time.”

Our advice, as we move into 2024, is to embrace the diversity of flexible work arrangements beyond the work-from-home versus office debate. Candidates, showcase your adaptability to various options like remote work, compressed schedules, and job sharing. Employers, recognise that flexibility extends beyond these binaries and be open to tailoring arrangements based on individual preferences. By fostering a culture that values adaptability, both parties can navigate the evolving landscape of workplace flexibility more effectively.

In the dynamic landscape of leadership, steering your company towards success takes more than just vision—it demands a deep understanding of the intricacies within your organisation. So, how can you gain a strong grasp on what’s happening within the talent acquisition (TA) function and ultimately ensure you positively shape how the broader business values this critical function?

At Talent, we’ve honed a secret sauce of key metrics designed to empower leaders with the insights needed to keep their finger on the pulse of talent acquisition and, consequently, drive the right hiring outcomes. Here, we focus on one metric that punches above its weight for impact—the ratio between interviews to offer.

The metric that matters: Interviews to offer ratio

Consider this: How many interviews does it take to extend one offer? This seemingly simple metric provides great insight into the quality of candidates in your pipeline, the effectiveness of your assessment methods, and the prowess of your interviewers. If you’re seeing a high volume of interviews relative to offers, you should dig deeper to understand reasons for the low conversion rate, and shed light on potential issues such as lacking interviewer capability, misaligned core role competencies, or deficiencies in candidate assessment.

This ratio is like having a diagnostic tool for your hiring process. If you find there’s a high volume of interviews happening across your departments but offers are scarce, it’s time to roll up your sleeves and investigate. This discrepancy could be indicative of inefficiencies in your process that, if left unaddressed, could impact your ability to attract and secure top-tier talent.

Problem-solving through data analysis: Where are candidates getting stuck?

Picture this: your candidates are progressing smoothly from an initial phone screen with your TA Team to a Hiring Leader interview but encounter roadblocks thereafter. This is a common challenge for many of our clients. One we often set about solving in the early stages of an engagement. The solution lies in using data to problem solve.
What you can do to solve this: enlist your TA team to actively participate in interviews with hiring leaders for roles that have roadblocks. This hands-on approach will provide you with insights into what transpires during interviews and enable your team to identify and solve problems effectively.

As a leader, consider taking a proactive role in this process. Sit in on interviews, observe the dynamics, and engage with your team to understand the root causes of these bottlenecks. It could be that a realignment of the hiring team—comprising the hiring leader, interviewers, and recruiters—is in order. Clarify the expectations and criteria for candidate success, ensuring everyone is on the same page. Define the top five key role competencies and ensure your interview guides actively assess these skills.

Elevating interviewer capability: The human element

Beyond the mechanics of the process, consider the human element in your hiring strategy. Assess the engagement levels of your interviewers—how effectively are they pitching the role and the employee value proposition (EVP)? Put yourself in the shoes of a candidate and ask, “Would I be enticed to join this company based on their interview?” The answer to this question holds significant weight.

Investing in interview training can pay substantial dividends. Ensure your team is equipped not just with technical know-how but also with the art of conveying your company’s culture, values, and opportunities. How engaging are your interviewers? Do they effectively communicate the unique aspects that make your organisation an appealing workplace? Remember, the interview is not just a one-way assessment; it’s also an opportunity to showcase your company and attract top talent.

Beyond ratios: Comprehensive metrics for success

While the interviews-to-offer ratio is a cornerstone metric, it’s essential to cast a wider net when evaluating the health of your talent acquisition function. Consider metrics such as time-to-fill and time-to-hire—understanding the efficiency of your process at each stage. Track the source of your hires to optimise recruitment strategies. Dive into candidate experience feedback to refine your approach and enhance your employer brand.

It’s also a good idea to delve into diversity metrics to ensure an inclusive recruitment strategy, and monitor retention rates to gauge the long-term success of your hires. Assess the cost per hire to optimise your recruitment budget effectively. Finally, measure the quality of your hires by evaluating their performance and impact on the organisation.

Key to success: The strategic imperative of TA data

In a business landscape where talent is the differentiator, harnessing the power of TA data is not just a strategy; it’s imperative for success. These metrics provide you a compass for navigating the complexities of talent acquisition. By understanding and acting upon these insights, you not only optimise your hiring processes but also elevate the value and impact of the TA function within your organisation.

As a leader, your ability to leverage TA data is not just about recruitment; it’s about shaping the trajectory of your business by attracting, retaining, and nurturing the right talent. So, dive into the data, decode the metrics, and let the insights pave the way for a talent strategy that propels your organisation towards enduring success.

Ready to optimise your hiring process and bring the best on board? Learn how we can help.