Market Signals – where do they come from?
We started by monitoring the number of LinkedIn job ads in 18 European countries in Week 13 of 2020 (mid-March) – and extended our observations to ultimately 38 countries in Europe since Week 15. This allows us to measure a KPI that gives quite a good feel of the overall trend on the global job market.
Career Angels analyze the collected figures and complement the quantitative data with detailed and personal statements & insights of CEOs, HR Directors, investors, board members, candidates and headhunters that we know personally. We observe if and what kind of trends there are to leverage them into better candidate management & more effective job search methods.
This is not a full version of this week’s report. View the complete presentation here:
The number of LinkedIn job ads
What does it mean for employers and candidates? Knowing how the supply of and demand for candidates looks like in the markets you are active in, is an important source of data for both sides of the job markets:
- For employers (incl. recruiters & HR professionals): more demand for candidates (coupled often with less unemployment) means that salaries and/or benefit packages go up. The “post and pray” approach might not be enough to attract the talent you want and need.
- For active job seekers: the more demand, the less effort you need to put into your job search, phrasing it in a slightly simplified way. It doesn’t mean that finding a new role will happen overnight. But it’s a good indication of how much time the job search process might take. And if and how your salary negotiation position could improve (see point 1).
Note: some job ads might have been taken off LinkedIn, not because the recruitment process was put on hold or canceled, but because they are costly. Especially if you have dozens of them. A company might have wanted to simply cut costs and move to more cost-effective alternatives. Local job portals are often offering substantial discounts.
Weekly change in Europe
Same time last year
Note: the numbers are collected at the beginning of each week, on Monday afternoon. In the full version of this week’s report, you can find separate data for regions such as: Visegrad, Baltics, Northern Europe, Southern Europe, Iberia, SEE, BENELUX, DACH, Western Europe, and EU.
Winners & Losers of the week
When it comes to regions, the winning result belongs to Western Europe: we observed an increase of +5.84% since last week. Country-wise, Montenegro is the winner with an increase of +40.00%.
The lowest result out of all the regions this week was noted in Visegrad Group: a decrease of -6.74%. Worst country result: Czechia with a -32.28% decrease.
Predictions for the rest of 2021 from our contacts
HR Director, Banking
I think Poland is currently a two-speed market due to the good economic situation, and therefore we can observe two phenomena:
- Companies use the moment and steal key competences / people from each-other because this is no longer normal recruitment with the “we do not have time to develop employees” attitude, it is better to get them from the competition quickly, and even better when it is fast and cheap (and LinkedIn is a great tool for that); They obtain resources for such activities from the reduction of competences, which are no longer of key importance and there are many people available on the market here. The net effect can be negative as new professionals can often change jobs mainly for pay because they are all looking for the same competencies at the same time.
- Start-ups, new technology companies are still recruiting due to struggling with the problem of people burning out.
If you want to discuss your professional situation confidentially or if you are considering hiring Career Angels for support, contact Bichl.Sandra@CareerAngels.eu who will personally match you with the most appropriate consultant. For efficiency, add your CV and availability for a Skype call.
Want to contribute? Email your signals to Sandra (everything will be kept confidential).
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Market Signals published thus far: