Key Hiring Trends for Jobseekers & Employers - Q1 2024 Snapshot

1. Hiring Slowdown Continues

The hiring slowdown persisted through Q1 but began to ease toward the end of the quarter. This shift can be attributed to several factors: slowing inflation, anticipated interest rate cuts later in the year, and growing confidence in an economic rebound. 

2. Slower Wage Growth

Additionally, candidates who entered the job market during the peak years of 2021 and 2022 maintain high salary expectations, posing a challenge for employers in meeting these demands amidst the current economic climate.

4. Skills Shortages Persist

While skills shortages persist across segments of the job market, they also signal opportunities:

• Positions requiring expertise in specific digital tools and platforms.
• Mid-level positions, especially within niche sectors.
• Senior-level roles for professionals skilled in strategic business development and leading pitches. 

Employers highly value candidates with demonstrated

commercial acumen and a track record of successful

business growth initiatives, creating promising

pathways for skilled professionals in these areas.

What this means for Jobseekers

Jobseekers - sharpen your CV.

Highlight your achievements and in-demand skills to differentiate yourself effectively.

Now is also an opportune moment to reflect on your career priorities. Identify key areas that matter most to you in your next role and focus on upskilling in those areas. Keep an eye on the market for your ideal position, especially if it's a rare opportunity.

If you're unsure about where to begin or need guidance, don't hesitate to reach out to us directly for support and advice. 

What this means for Employers

Employers - prioritise the following strategies to thrive in a competitive market and streamline recruitment processes:

• Strengthen the long-term aspects of your talent acquisition strategy, employer branding, and employee value proposition to attract top talent efficiently.
• Despite wage pressures, be prepared to offer competitive salaries to secure top-tier candidates.
• Engage with passive candidates or those open to exploratory discussions during ‘quieter’ hiring phases. Building connections now can enhance agility and readiness for future hiring needs. 

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