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 the same region for the sixth week in a row. Baltics: we observed an increase of +14.52% since last week. Country-wise, Denmark is the winner with an increase of +14.13%.
The lowest result out of all the regions this week was noted in Benelux: a decrease of -5.58%. Worst country result: the Netherlands with a -6.05% decrease.
Predictions for the rest of 2021 from our contacts
Global HR Director / IT industry
- Specific business units within companies that have done well are starting to grow and hire again, while the expense/hiring restrictions continue in business units that failed to perform.
- Technology spends and hiring are expected to increase in the last quarter as long pending projects are being prioritized along with transformation investments.
- Most traditional roles are having excess capacity, hence the salary levels are expected to drop given the number of desperate candidates in the market who are out of job for more than 6 months.
- A great resignation wave is being spoken about, though no real impact on hiring is expected to come from this as individuals are concerned about the impact of new waves of COVID-19 and potential life uncertainties coming from it.
Head of HR, Northern Europe / Home Appliances industry
As we are moving into a new normal and people have probably had time to think about how they want to work and what is their next career step, we will see a high movement in the job market and a lack of labor resources in many fields. It has already started. An attractive work model will be key in Employer Branding.
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: