There is expected to be candidate movement this year due to an increase in business confidence. However, recent caution in the economy has been reflected in candidate behaviour, with many placing more of an emphasis on job security, looking at the longer term, big picture and career prospects rather than immediate financial gain.
Candidates with strong technical abilities, such as those in the banking sector, are demanding higher salaries. As there have been few career developments opportunities across the banking job market, candidates are also looking at taking the next step in their career with new firms, especially those that can offer a career plan. Candidates seeking banking roles are also looking at other industries due to the uncertain temperament of the finance industry.
Some candidates, as observed in the construction industry, are now expected to be able to demonstrate a broad skill set and be prepared to take on extra responsibility to give them a competitive edge.
Flexibility on the rise
In some industries such as accountancy and finance, candidates appear to be wary of the market and are being very careful when considering the right opportunity. However, candidates as a whole are becoming more flexible about their pay, appreciate salaries are not generally rising and will move for parity. We have seen this is the case in the energy and engineering sectors in particular.
In some professions such as Architecture, candidates are also open to temporary assignments due to the flexibility and increased demand from employers.
There is interest from overseas candidates looking for sponsorship and wanting to relocate to Australia in the healthcare industry. The legal sector has also seen a heavy flow of candidates with Working Holiday Visas and senior foreign lawyers seeking to work in Australia. There has also been an increase in candidates seeking part-time employment in the legal industry for better work-life balance and family responsibilities.
Some candidates, particularly in the IT sector, seem to be applying for more roles regardless of relevant experience in order to ensure they secure a position. And some candidates are willing to travel longer for roles given the current competitive nature of this job market.
All about reputation
Many candidates are cautions about their next career move and are keen to learn more about a potential employer’s recent trading history and future growth plans before moving forward with interviews.