The number of job postings has bounced back since the beginning of the COVID-19 pandemic, but talent shortages have brought challenges in filling those roles, according to a new report by JobAdder.
According to the “Global Recruitment & Staffing Industry Report: Q2 2021,” job orders at recruitment agencies indicate employer confidence as well as employment demand. Previous JobAdder reports have shown a strong rebound in job orders since the low point during COVID-19, and there is a strong upward trend in job posts for most markets. All five regions surveyed (Australia, New Zealand, UK and Europe, US, Canada) have seen significant increases in job postings since Q2 2020.
That said, the level of candidate interest in positions is wavering — 41% of workers around the world are considering handing in their notice after an uncertain year. In the U.S. and Canada, applications per job decreased steadily, from 12.1 in Q3 2020 to 4.4 in Q2 2021. The average number of days to place increased.
While there are many factors at play in these challenges, talent shortages play a big role. According to Greg Savage, who works with JobAdder in a product advisory capacity, a previously low number of job postings has changed into what some are calling a “hiring frenzy,” which presents its own challenges.
“Foremost amongst these challenges is talent shortages, which is a global issue,” he said. “These skills shortages were looming before COVID-19, but now border closures and strong demand have shone the light on lack of qualified talent. This can be seen in the declining application numbers illustrated in this report.”