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Welcome to the employer-driven market, where the beat is fast, the stakes are high, and the dance floor is crowded. Recruitment managers today find themselves in a position not seen since pre-pandemic times: an employer-driven market. With a 17% decline in job postings in the first half of 2023 and a 29% rise in job applications, companies must review and adapt their hiring strategies to stay competitive.

In this blog, we’ll give you some context on how we got here (again) and some tips that will help you stand out from the crowd.

Let's start with how we got here. At the core, it all about supply and demand Dynamics:

• Picture a seesaw—the fulcrum balancing job openings and qualified candidates.
• In a candidate-driven market, the seesaw tips toward the job seekers. Opportunities abound, but the talent pool remains finite.
• Candidates now negotiate better salaries, benefits, and work conditions, asserting their worth.

2. Economic Catalysts:

• The Australian economy, like a tempest at sea, experiences waves of change. Economic downturns prompt cost-cutting measures by companies.
• In 2024, tech hiring faces headwinds due to economic challenges. Some firms pause projects, affecting job availability in specific sectors.

Economic Drivers

1. Cost of Living and Inflation:

• As the cost of living rises, candidates seek higher salaries to weather the storm.
• Organizations, however, tread cautiously, leading to salary stagnation in certain job families.

2. Industry-Specific Trends:

According to the Australian Bureau of Statistics (ABS), here are some key statistics related to earnings for employees, including sales workers:

-        In August 2023, the median weekly earnings for all employees (including sales professionals) was $1,300 per week. This represents an increase of $52 (4.2%) since August 2022¹. Specifically, for sales workers, the median weekly earnings were $750 in August 2023.

-        The occupation groups with the highest hourly earnings were Managers (with a median of $67.20 per hour) and Professionals (with a median of $60.60 per hour).

-        Sales workers, unfortunately, had lower earnings compared to other occupations.

-        Over the past five years, median weekly earnings increased at a faster rate for women than for men. This is partly due to an increase in the proportion of women working full-time. Women in sales roles have also seen changes in their earnings, reflecting broader market dynamics.

As you embark on your job quest, remember this: You’re not merely a candidate; you’re an asset. Leverage your skills, stay attuned to market shifts, and negotiate with confidence. In a competitive job market, standing out as a sales job candidate requires a strategic approach. Here are some effective ways to make a memorable impression:

1. Improve Your LinkedIn Profile:

• Optimize your LinkedIn profile by including relevant keywords related to sales and your expertise. This will help executive search groups find you more easily.
• Craft a compelling summary that showcases your unique qualities and professional background.
• Use a high-quality, professional profile picture to make a positive first impression.

1. Brand and Simplify Your Resume:

• Tailor your resume to highlight your sales achievements and skills. Focus on quantifiable results, such as revenue growth, successful deals closed, or targets exceeded.
• Keep your resume concise and easy to read. Use bullet points to emphasize key points.
• Consider creating a visual sales portfolio that showcases your accomplishments, client testimonials, and any relevant certifications.

1. Nail the Interview:

• Research the company thoroughly. Understand their products, services, and market position. Show that you’ve done your homework during the interview.
• Highlight your problem-solving abilities. Share examples of how you’ve overcome challenges in previous roles.
• Be proactive. Ask insightful questions about the company culture, team dynamics, and growth opportunities. Show that you’re genuinely interested in the role¹².

Remember, in a candidate-driven market, it’s essential to differentiate yourself by demonstrating your passion, skills, and cultural fit. Good luck with your job search!