1、AUSTRALIA&NEW ZEALAND EXCLUSIVE2023 REPORTINTRODUCTION03KEy fINDINgS0401:Number of candidates vs.time to hire0502:The growing cost of hiring0903:New hire turnover and talent shortages1604:The struggle of SMEs against MNCs2105:What takes up the most time in the recruitment cycle?25CONCLUSION28INTRODU

2、CINg SmARTmATCh by EmPLOymENT hERO29COmPARINg ThE UK AgAINST AUSTRALIA&NEW ZEALAND30mEThODOLOgy&SAmPLE PROfILE34AbOUT EmPLOymENT hERO35CONTENTSDisclaimer:The information in this article is current as at 19 October 2023,and has been prepared by Employment Hero Pty Ltd(ABN 11 160 047 709)and its relat

3、ed bodies corporate(Employment Hero).The views expressed in this article are general information only,are provided in good faith to assist employers and their employees,and should not be relied on as professional advice.The Information is based on data supplied by third parties.While such data is be

4、lieved to be accurate,it has not been independently verified and no warranties are given that it is complete,accurate,up to date or fit for the purpose for which it is required.Employment Hero does not accept responsibility for any inaccuracy in such data and is not liable for any loss or damages ar

5、ising either directly or indirectly as a result of reliance on,use of or inability to use any information provided in this article.You should undertake your own research and to seek professional advice before making any decisions or relying on the information in this article.STATE OF RECRUITMENT REP

6、ORT 2INTRODUCTIONhIRINg IN 2023.hOWS IT gOINg fOR yOU&yOUR bUSINESS?With layoffs in the tech industry,rising inflation rates,increased cost of living pressures,recessionary fears,geopolitical instability and more Its clear that 2023 has certainly been a year filled with great uncertainty and volatil

7、ity.Whats more,Australias workplace regulations have undergone one of their biggest upheavals in decades this year.From the introduction of the Secure Jobs,Better Pay Bill to the most substantial increase to the National Minimum Wage Increase in recent history,employers have had to grapple with cont

8、inual compliance changes whilst trying to attract top talent.Its certainly been no easy feat.Over in New Zealand,one of the most pressing challenges businesses face is a talent shortage.As the economy tightens and sectors report huge shortages of staff,theres a keen worry about how businesses will s

9、urvive.In fact,90%of businesses said in a recent survey that they were struggling to find new employees,with many citing the challenges of attracting overseas workers as one of the key drivers.When theres a talent shortage,hiring processes have to be efficient it cant be too long or too arduous,or e

10、lse businesses risk losing good talent.With so much going on,its clear that businesses are facing some big challenges at the moment.So,how can employers improve their hiring processes to better attract good talent?To help you better understand the hiring landscape in Australia and New Zealand,we pol

11、led 509 business leaders in June 2023.A snapshot of our findings?Hiring costs are increasing in large due to the rising cost of living,but also because of labour shortages and increased prices of job board postings.SMEs are also struggling in the competition against bigger business for good talent,a

12、nd have difficulties accessing job boards due to their small budgets and this is just the tip of the iceberg.The findings might surprise you or strongly resonate with you.But above all,we hope you gain valuable insights from this report that will help shape your recruitment and retention strategy fo

13、r the future.The Team at Employment HeroSTATE OF RECRUITMENT REPORT 3KEyfINDINgSOn average,it takes hiring leaders 29 days to fill a role in Australia and New Zealand the quickest out of all the other countries we surveyed(Singapore,Malaysia&the UK).Hiring leaders spend 39 hours per week on hiring a

14、ctivities,and the most time consuming activities are candidate interviewing(7 hours per week),candidate screening (6 hours per week)and candidate testing(5 hours per week).Advertising rates have increased by 81%over the past year it costs on average$5,380 to advertise a role in Australia,while it co

15、sts on average$6,429 in New Zealand.The top 3 reasons for the rise in hiring costs are the increase in salaries due to the rising cost of living(46%),labour shortages(40%),as well as increased job board posting costs(28%).75%of hiring leaders agree that small businesses struggle to compete for talen

16、t with multinational corporations,and 64%agree that the costs of accessing job boards are prohibitive for SMEs.STATE OF RECRUITMENT REPORT 4NUmbER Of CANDIDATESVS.TImE TO hIREAcross Australia and New Zealand,hiring leaders receive an average of 25 candidates per open role.But does an organisations s

17、ize affect the number of applicants received per role?And how does this impact the total time taken to fill a role?Lets dive into the survey results to find out more.INSIghT 01STATE OF RECRUITMENT REPORT 5SLIM PICKINGS FOR SMALLER ORGANISATIONSMore than a quarter(26%)of hiring leaders surveyed said

18、they received 4 or fewer applications for their last open role,while another 27%received 5-10 applications.This means slim pickings for more than half of those surveyed.In fact,only 3%of hiring leaders received more than 101 applications.The number of applicants received varies across the size of th

19、e organisations too.Microbusinesses with less than 10 employees were 98%more likely to have 4 applicants or less,while larger businesses(with 201-500 employees)had an average of 50 applicants for their last open role.THINKING ABOUT THE LAST ROLE YOU/YOUR COMPANY HIRED,HOW MANY CANDIDATES APPLIED?Q4

20、applicantsand below5 to 1011 to 3031 to 100101 applicantsand over26%27%29%15%3%INSIGHT 01STATE OF RECRUITMENT REPORT 6MICROBUSINESSES FILL ROLES QUICKLYOn average,it takes 29 days for hiring leaders to fill a role.A large majority(81%)of hiring leaders surveyed say it takes a month or less to fill a

21、 position.Hiring leaders in microbusinesses also experienced hiring times that far exceeded the speed of larger organisations,with 48%saying it only took them 1-10 days to fill their last role.Its clear that microbusinesses have a competitive advantage in hiring fast and finding the right people qui

22、ckly.On the other hand,despite being able to hire quickly,4%of hiring leaders in microbusinesses also said it took them more than a year to fill their last role.None of the other larger organisations with 10 or more employees faced the same issue everyone else was able to fill their last role within

23、 a year.This could be attributed to the fact that larger organisations are able to provide better salaries and employee benefits,thus leaving microbusinesses at a disadvantage in attracting talent.THINKING ABOUT THE LAST ROLE YOU/YOUR COMPANY HIRED,HOW LONG DID IT TAKE FOR THE POSITION TO BE FILLED?

24、QINSIGHT 011-10 days11-20 days21-30 days1-2 months2-12 months1+year32%28%21%10%8%1%STATE OF RECRUITMENT REPORT 7INSIGHT 01 Getting through the entire recruitment lifecycle can be a lengthy process.But if youre keen to cut down the time to hire and achieve quicker hiring rates like microbusinesses,wh

25、y not leverage an applicant tracking system?For those unfamiliar with the term,an Applicant Tracking System or ATS is recruitment automation software that helps organisations streamline their hiring process and talent acquisition tasks,such as job postings,resume screenings,interview schedules,and c

26、ommunication with job seekers.Employment Heros ATS can help you transform your recruitment process completely so you can reach all the right people in all the right places,and manage candidates with ease.Post to integrated job boards with a single click and funnel talent swiftly through your recruit

27、ment pipeline,all from one platform.HERO TIP Click here to find out more AUNZSTATE OF RECRUITMENT REPORT 8ThE gROWINg COST OfhIRINgRising cost pressures have become a key concern for businesses in Australia and New Zealand over the past year,and hiring costs are no exception.What are the key factors

28、 contributing to the increase in hiring costs and what can businesses do to help alleviate it?Lets dive into the findings.INSIGHT 02STATE OF RECRUITMENT REPORT 9INSIGHT 02THE RISING COST OF LIVING IS HIKING UP RECRUITMENT COSTSThe top reasons contributing to the increase in hiring costs are the incr

29、ease in salaries due to the rising cost of living(46%),labour shortages(40%),as well as increased jobs board posting costs(28%).With living costs reaching an all time high in Australia and New Zealand,its no wonder businesses are feeling the pinch.The higher the cost of living,the more emphasis is p

30、laced on salaries with talent asking for higher wages thus raising the bar for hiring costs.WHAT ARE THE REASONS FOR HIRING COSTS INCREASING?QIncrease in salaries due torising cost of livingLabour shoragesIncreased jobs boardposting costsIncreased time to hireIncreased commissionsfrom recruitment ag

31、enciesLosing candidates tolarger businessesCandidates leaving duringtheir probation periodHigher foreign worker levyand work visa costsOther46%40%28%27%24%21%16%11%1%STATE OF RECRUITMENT REPORT 10INSIGHT 02LEADING FACTORS FOR INCREASING HIRING COSTS VARY BY BUSINESS TYPESHiring leaders from companie

32、s with 31-99 employees were more likely to be impacted by the increased commission from recruitment agencies(32%),as compared to those with 100-200 employees(28%)and those with 201-500 employees(27%).This is likely due to the reliance of mid-sized companies on recruitment agencies for hiring,while m

33、icrobusinesses usually handle the recruitment process themselves and larger multinational companies have dedicated in-house recruitment teams.On the other hand,hiring leaders from larger organisations(with 200-500 employees)were more likely to cite labour shortages(49%),increased time to hire(37%)an

34、d losing candidates to larger businesses(35%)as their top reasons for increased hiring costs,apart from the rising cost of living.In terms of industry comparisons,hiring leaders in the Hospitality,Retail and Tourism industries were the hardest hit by the increase in salaries due to the rising cost o

35、f living(54%).This is likely because the pandemic resulted in labour shortages,and due to their reliance on casual,freelance or part-time staff,employees have the upper hand in choosing the job they want with the highest remuneration.Businesses have to offer competitive salaries to get their roles f

36、illed,or be left with continual staff shortages.STATE OF RECRUITMENT REPORT 11INSIGHT 02HOW MUCH DOES IT COST TO ADVERTISE A ROLE?In Australia,it costs on average$5,380 to advertise an open role,but the median is a mere$200 which means that for 50%of hiring leaders,it costs less than$200 to advertis

37、e a role.In New Zealand,it costs on average$6,429 to advertise an open role,but the median is a mere$123 which means that for 50%of hiring leaders,it costs less than$123 to advertise a role.Why is there such a huge difference between the average and median advertising costs?Its due to the fact that

38、14%of hiring leaders pay absolutely nothing(yes,$0)to advertise a role,while 19%pay$1,000 or over.Comparatively,its slightly more expensive to advertise for a role in New Zealand than in Australia.For the most part,representation across the different ad cost bands is similar between Australia and Ne

39、w Zealand the only exception is that 27%of NZ hiring leaders pay between$1-99 in ad costs,compared to 20%of hiring leaders in Australia who pay the same amount.$0$1-99$100-499$500-999$1,000 and over14%24%33%11%19%HOW MUCH DO YOU CURRENTLY PAY TO ADVERTISE FOR A ROLE?QSTATE OF RECRUITMENT REPORT 12IN

40、SIGHT 02Unsurprisingly,microbusinesses(1-9 employees)were 78%more likely to not pay any ad costs with just over one quarter(26%)of hiring leaders in this group saying they did not pay anything.Larger companies with 201-500 employees paid the most in advertising costs,with 28%of hiring leaders saying

41、 they paid$1000 and over to advertise a role.In terms of industry comparisons,30%of hiring leaders in the Hospitality,Retail and Tourism sectors paid between$1-99 in advertising costs,while 31%of hiring leaders in the Finance,Tech and Business Services industries paid$1,000 or over.This clearly reve

42、als the different hiring tactics between industries.Those in the Finance,Tech and Business Services sectors are more likely to require extensive jobs board postings to reach the relevant talent than those in the Hospitality,Retail and Tourism sectors which use a variety of hiring avenues including s

43、ocial media communities and messaging channels that are more informal and affordable.For the 14%of hiring leaders who paid nothing at all to advertise their roles,its likely that they gained suitable candidates from referrals or other resources like Facebook groups,Gumtree,Trade Me,hiring notices on

44、 their windows,walk-in candidates and more.STATE OF RECRUITMENT REPORT 134 applicantsand below5 to 1011 to 3031 to 100101 applicantsand over26%27%29%15%3%INSIGHT 02ADVERTISING RATES HAVE INCREASED BY 81%OVER THE PAST YEARWhen asked how much advertising costs have increased compared to the previous y

45、ear,hiring leaders said they increased by 81%on average.The majority(33%)said it had increased by 5%or less.However,for 10%of hiring leaders,advertising costs have doubled or more.The average increase for job advertising costs was higher for New Zealand(+92%)compared to Australia(+70%).This is becau

46、se 7%of hiring leaders in New Zealand said advertising costs have increased by 51-99%compared to just 3%of hiring leaders in Australia,and 12%of hiring leaders in New Zealand said advertising costs have doubled or more compared to just 7%of hiring leaders in Australia.Across organisation sizes,micro

47、businesses had the lowest increase in advertising fees,with an average increase of 35%.This is because for almost half(47%)of this group,advertising fees have only increased by 5%or less.For hiring leaders in larger organisations(201-500 employees),the majority(37%)said that fees increased between 6

48、-15%.COMPARED TO LAST YEAR,BY HOW MUCH HAVE YOUR TALENT ADVERTISING COSTS INCREASED?Q5%and below6 to 15%16 to 25%26 to 50%51 to 99%100%and over33%21%14%17%5%10%STATE OF RECRUITMENT REPORT 14INSIGHT 02 Keen to lower your hiring costs?Employment Hero can help.Swag is the worlds first employment supera

49、pp,created by the Employment Hero team.You can find and retain great talent while also supercharging your employer brand.SmartMatch gives you access to a marketplace of work-ready candidates,where you can take your pick of talent and manage the end to end hiring process easily.With a FREE applicant

50、tracking system and FREE job postings,youll be reducing your cost per hire and time to hire significantly.HERO TIP Click here to find out more AUNZSTATE OF RECRUITMENT REPORT 15NEW hIRE TURNOVER ANDTALENT ShORTAgESOne of the main reasons contributing to the increase in hiring costs was candidates le

51、aving during their probationary period(16%),as shown in the previous section.Our survey found that on average,17%of candidates do not pass probation or remain in their role after the first 6 months.Having new hire turnover brings about more costs because you have to restart the entire recruitment cy

52、cle again.How does this statistic compare to your organisation?And are you currently doing anything about it?INSIghT 03STATE OF RECRUITMENT REPORT 16INSIGHT 03NOT ALL NEW HIRES STAYThe majority(49%)of hiring leaders say only 5%or less of their new hires leave within the first six months.However,for

53、7%of hiring leaders,the new hire turnover rate is 51%and over.On average,new hire turnover is lower in New Zealand compared to Australia(15%vs 19%).This is because 55%of hiring leaders in New Zealand have a turnover rate of 5%or less,versus 43%in Australia.In addition,25%of hiring leaders in Austral

54、ia have a new hire turnover rate of 21-50%,as compared to just 16%in New Zealand.New hire turnover rates are the lowest for microbusinesses 61%of hiring leaders say only 5%or less of their new hires leave.It is higher in small to mid-sized organisations however 11%of hiring leaders in businesses wit

55、h 10-30 employees have a turnover rate of 51%and over,while 29%of hiring leaders in businesses with 31-99 employees have a turnover rate of 21-50%.Turnover rates for hiring leaders in the Construction,Manufacturing,Agriculture,Transport and Wholesale industries are the highest on average at 21%in fa

56、ct,11%of leaders in this group have a new hire turnover rate of 51%and over.On the other hand,hiring leaders in the Finance,Insurance,Tech and Business Services sectors have the lower turnover rate on average at 13%.ON AVERAGE,WHAT PROPORTION OF YOUR HIRED CANDIDATES LEAVE WITHIN THE FIRST 6 MONTHS

57、OR DO NOT PASS THEIR DESIGNATED PROBATION PERIOD?5%and below6 to 10%11 to 20%21 to 50%51%and over49%12%11%21%7%QSTATE OF RECRUITMENT REPORT 17INSIGHT 03Unsurprisingly,new hire turnover rates are a direct contributor to the increase in hiring costs,due to the fact that hiring leaders have to repost t

58、he same role multiple times and go through the entire recruiting process again.So if youre keen to keep your hiring costs low,focus on minimising your new hire turnover rates.It might be a good time to evaluate your current recruitment or onboarding process,and identify any gaps or red flags that mi

59、ght be contributing to new hire turnover rates.Job descriptions(JD)are a crucial part of the recruitment cycle as they help you reach the right person seeking employment,increasing the quality of potential employees applying for the position.A perfect JD should leave the job seeker knowing whether t

60、hat they are definitely right or wrong for the role.The JD should be as detailed and as relevant as possible.It should take a deeper dive into the skills required,share insights about how the role fits into the wider company structure,and how it aligns with company values.It should essentially give

61、the applicant all the knowledge they need to undertake the rest of the recruitment process.As for your onboarding process,weve got tonnes of helpful resources for you.Check out our blog on actionable tips to improve your onboarding process,and our ultimate guide to employee onboarding and induction.

62、Oh,and have we mentioned how important welcome packs are in an onboarding plan?Its definitely one area you cant afford to miss.Heres how you can take your welcome pack to the next level so your new hires are confident your company is where theyre meant to be.STATE OF RECRUITMENT REPORT 18INSIGHT 03T

63、ALENT SHORTAGES HAVE INCREASED IN THE PAST YEARA significant majority(82%)of hiring leaders said that talent shortages have increased in the past year,with 25%saying it significantly increased,36%saying it somewhat increased,and 22%saying it increased a little.Only 18%of hiring leaders said that tal

64、ent shortages did not increase at all.These findings are in alignment with recent news that the talent shortage is becoming a huge problem for many employers.In Australia,an increasing number of small businesses are relying on younger family members to help fill workplace shortages.A report commissi

65、oned by the National Skills Commission also revealed that Australia faces a shortfall of almost 200,000 workers by 2050.In New Zealand,labour shortages have intensified over time and will intensify further with an ageing population.The country will be short of 250,000 workers by 2048,if current tren

66、ds continue.This is also on top of brain drain to Australia,which has increased by 42%in the past three months.COMPARED TO A YEAR AGO,WOULD YOU SAY THAT TALENT SHORTAGES IN YOUR INDUSTRY HAVE.QNot increasedat allIncreaseda litleSomewhatincreasedSignifcantlyincreased18%22%36%25%STATE OF RECRUITMENT R

67、EPORT 19INSIGHT 03Interestingly,microbusinesses were 56%more likely to say that talent shortages had not increased at all(28%in this group did).On the other hand,37%of larger organisations(201-500 employees)said that talent shortages have significantly increased.There are a few reasons that contribu

68、te to this disparity microbusinesses tend to have fewer job openings as compared to larger organisations,and hire quickly via referrals.In addition,they might be reliant on outsourced service providers,freelancers,or contractors to carry out essential work and hence are less impacted by talent short

69、ages.On the flip side,job openings in larger organisations are more likely to emerge on a frequent basis given the scale of the business,hence hiring leaders are likely to be more affected and aware of ongoing talent shortages.Feeling lost and worried about talent shortages?Why not expand the geogra

70、phical reach of your recruitment efforts?Recruiting remotely allows you to access a larger pool of candidates,and Employment Heros Global Teams solution can help you with it all.With Global Teams,Employment Hero acts as the legal employer of record(EOR)or as a professional employment organisation(PE

71、O)for employees based outside markets you already operate in.You can get employment contracts created in compliance with local employment laws,grow your talent pool with skilled candidates,retain staff who are moving overseas or expand into international markets with the help of local expertise and

72、knowledge all without the stress of setting up a local entity.No compliance risks or recruiters needed either,we handle everything for you.HERO TIP Click here to find out more AUNZSTATE OF RECRUITMENT REPORT 20ThE STRUggLE Of SmES AgAINST mULTINATIONALCORPORATIONSMultinational corporations(MNCs)have

73、 more resources at their disposal as compared to SMEs.They can afford to offer higher salaries,provide more employee benefits,and have a broader talent pool to pick from.So,how can SMEs compete with them when the odds are stacked against them?Lets hear what hiring leaders have to say.INSIghT 04STATE

74、 OF RECRUITMENT REPORT 21INSIGHT 04When asked whether they agree that small businesses struggle to compete for talent with MNCs,75%of hiring leaders agreed.More than half(64%)also agreed that the cost of accessing job boards is prohibitive to SMEs,while 65%also agreed that quality technology to assi

75、st in the hiring process is out of reach for their budget.Clearly,the majority of hiring leaders recognise that SMEs face multiple difficulties in hiring as compared to MNCs.With a challenging business environment marked by higher costs,SMEs are already struggling to survive the competition for tale

76、nt is only adding further pressure,as SMEs do not have extra budgets available for job boards or hiring technology.AN UNEQUAL PLAYING FIELDQAs a small business westruggle to compete fortalent with multinationalcorporationsQuality technology to assistin the hiring process is out ofreach for our budge

77、tThe cost of accessing jobboards is prohibitive for SMEsThe current job boards in mycountry do not suit myorganisation/industry75%65%64%46%25%35%36%54%AgreeDisagreeHOW STRONGLY WOULD YOU AGREE OR DISAGREE WITH THE FOLLOWING STATEMENTS?Job boards shouldnt be out of reach for SMEs.Thats exactly why Em

78、ployment Hero has made our applicant tracking system,which is integrated with candidate-preferred job boards such as Linkedin,Indeed,Seek and more,completely FREE.With Employment Hero,you can reach all the right people in all the right places,and advertise your jobs with ease.Fret no longer over exo

79、rbitant jobs board posting costs weve got your back.We want to empower all SMEs with the ability to effortlessly advertise,hire,and onboard staff from a single platform,without blowing your budget.HERO TIP Click here to find out more AUNZSTATE OF RECRUITMENT REPORT 22INSIGHT 04When asked about the h

80、iring challenges they faced,92%of hiring leaders said that challenges experienced in the hiring process were due to their inability to match the offered salary by large organisations,89%said it was due to the inability to offer the same perks as larger organisations,and 88%said it was due to the ina

81、bility to offer the same career progression as larger organisations.A large majority(84%)also said it was the inability to make the hiring process faster.While businesses on the micro end can generally hire faster and quicker than larger organisations,this becomes harder as the organisation grows be

82、yond ten employees.Its no surprise why employees might prefer to work for MNCs over SMEs.They have larger hiring budgets,offer extensive employee benefits and have more prestigious reputations.But as the future of work continues to evolve,and demands for work-life balance,along with flexible work ar

83、rangements increase,businesses must adapt quickly to ensure an agile work environment.And in this regard,SMEs have advantages over their larger competitors.To tackle the unequal playing field,SMEs need to emphasise their advantages when it comes to recruitment such as the ability to offer tailored e

84、mployee packages,greater flexibility in working arrangements,a hands-on working culture,and more.A WHOLE HOST OF HIRING CHALLENGESTO WHAT EXTENT DO EACH OF THE FOLLOWING FACTORS CONTRIBUTE TO THE CHALLENGES YOU FACE IN YOUR HIRING PROCESS?QInability to match theofered salary by largeorganisationsIna

85、bility to makethe hiring process fasterInability to ofer thesame perks as largerorganisationsInability to ofer the samecareer progression aslarger organisations21%13%24%21%44%38%42%45%27%32%23%22%8%16%11%12%A lotSomeA litleNot at allSTATE OF RECRUITMENT REPORT 23INSIGHT 04Candidates will get the abi

86、lity to be a big fish in a small pond their achievements and contributions will be far more visible and directly impact the business,and they will also face less competition for progression and salary increments.So yes,if youre a small business with small budgets going against MNCs with deep pockets

87、 that can pay top dollar for employee salaries,youre likely to get outpriced.But be strategic in showcasing your strengths and youll find that you can compete against MNCs in other areas like culture,flexibility,and growth.Its all about having a strong employee value proposition(EVP).To thrive and a

88、ttract top-notch talent amidst a competitive landscape,SMEs must take a more strategic approach centred on authentic values and a compelling mission.Establishing a clear mission is paramount.When individuals witness a business passionately pursuing a greater purpose,they are naturally attracted to b

89、ecome part of the journey.Having commitment to authentic company values allows candidates to find alignment with their personal principles.In addition,when a business fosters a sense of belonging and loyalty,focusing on nurturing a dynamic and dedicated workforce,it serves as a magnetic force in pul

90、ling in like-minded individuals.And of course having as a super strong EVP helps too,get creative!Natalie Hatchard,Talent Acquisition Manager (ANZ)at Employment Hero As a small business,it can feel as if the odds are against you.But Employment Hero can help.Speed up your hiring process with our hand

91、y applicant tracking system where you can effortlessly advertise,hire,and onboard staff from a single platform.And when it comes to career progression,it doesnt mean small businesses arent able to provide the same framework that MNCs do.Our performance management platform enables you to lead your te

92、am with ease and create a team at the top of their game.From performance reviews to 360 degree feedback,one-on-ones and career progression plan templates get the tools you need to empower employees and track their growth,all in one place.HERO TIP Click here to find out more AUNZSTATE OF RECRUITMENT

93、REPORT 24WhAT TAKES UP ThE mOST TImE IN ThERECRUITmENT CyCLE?A large majority(84%)of hiring leaders cited their inability to make the hiring process faster as contributing to the challenges they faced in their hiring process,as shown in the section above.It may not be the most pressing problem for h

94、iring leaders,but it does hinder the hiring process significantly.How many hours are hiring leaders currently spending on the entire recruitment cycle,and how can they further cut down time spent on these tasks?Lets find out.INSIghT 05STATE OF RECRUITMENT REPORT 25INSIGHT 05Our survey found that on

95、average,hiring leaders spend more than 39 hours per week on hiring activities.The most time consuming activities are candidate interviewing(7 hours per week),candidate screening(6 hours per week)and candidate testing(5 hours per week).The hiring process was more time-consuming for hiring leaders in

96、larger organisations(201-500 employees),who spent an average of 49 hours per week on hiring activities.Their most time-consuming activities were candidate screening(8 hours per week),candidate interviewing (7 hours per week)&candidate testing(7 hours per week).On the other hand,microbusinesses were

97、the most efficient at hiring activities they spent 28 hours per week on average.The most time-consuming activities for them were candidate interviewing(5 hours per week),candidate screening(4 hours per week)and interview scheduling(3 hours per week).Interestingly,there were little differences betwee

98、n Australia and New Zealand,with the exception of candidate testing which took longer in Australia(5 hours per week)compared to New Zealand(4 hours per week).Candidate testing seems to be a significant part of the hiring process,especially in Australia where it can be seen as a good method to evalua

99、te candidates on their skills and abilities,and whether they can perform in the role.CANDIDATE INTERVIEWING,SCREENING,AND TESTINGQHOW MANY HOURS PER WEEK ON AVERAGE DO YOU/YOUR ORGANISATION SPEND ON EACH OF THE FOLLOWING HIRING ACTIVITIES?Candidate interviewingCandidate screeningCandidate testingJob

100、 ad creationCandidate checksInterview schedulingCandidate contracts exchangeDrafting candidate ofersJob ad posting6.65.94.63.93.93.83.83.63.2STATE OF RECRUITMENT REPORT 26INSIGHT 05Hiring activities were also less time-consuming in the Education,Government,Cultural,Healthcare and Social Services(29

101、hours per week)and more time-consuming in the Finance,Insurance,Technology,Business and Professional Services industry(44 hours per week).This is likely due to the fact that there are fixed hiring procedures to be followed in the Education,Government,Cultural,Healthcare and Social Services sectors h

102、ence they are more streamlined and efficient.Hiring leaders who claim that talent shortages have increased also spent more time on average on hiring activities(42 hours per week),compared to microbusinesses who said talent shortages have not increased(26 hours per week).This is understandably so,as

103、hiring leaders facing talent shortages would be forced to spend more time ramping up efforts on hiring activities and trying to attract more applicants.What if we told you that we could help you drastically cut down the hours spent on hiring activities per week?And help you find the right talent?Swa

104、g,the worlds first employment superapp created by the Employment Hero team,can help you find candidates quickly and efficiently.For Q2 2023,we found that on average,hiring managers reduced their time to hire by a whopping 63%using the Swag Jobs board,and onboarded their new starter 18 days earlier t

105、han candidates sourced from other job boards.Thats an incredibly significant difference!Sit back,relax,and leave the heavy lifting to us.Were here to empower you with the tools you need to streamline your recruitment cycle and make it more efficient.HERO TIP Click here to find out more AUNZSTATE OF

106、RECRUITMENT REPORT 27CONCLUSIONCONCLUSIONIts no secret that the recruitment market is constantly changing and is susceptible to economic conditions.Keeping up with the latest trends and changes as a result of that can be incredibly time-consuming and taxing for businesses who already have a lot on t

107、heir plates.We hope this research has shed some light on the state of hiring in Australia and New Zealand,and provided you with valuable insights that can help you transform and streamline your recruitment process.We understand that the data can be a lot to digest.To help,below are a few action poin

108、ts for employers looking to cut hiring costs and still be able to get the talent they need.Firstly,invest in an applicant tracking system(ATS).We cant stress this enough having an ATS is an absolute game changer for your business.If theres anything weve gained from the pandemic,its that leveraging t

109、echnology to improve business processes has never been so important.An integrated ATS enables you to advertise,hire and onboard staff seamlessly,all from one place.You can post job ads to multiple job sites with a single submission,integrate with popular job boards,track candidates through the pipel

110、ine,build a shortlist,and so on.The benefits are out there for you to enjoy you simply need to take the first step.Secondly,if hiring locally ever gets too overwhelming for your business and you just cant seem to find the talent you need,why not expand your horizons?In todays flexible working world,

111、the recruitment opportunities are borderless.Employment Heros Global Teams service can help you employ the best talent for your team,based anywhere in the world.Get employment contracts created in compliance with local employment laws,without the need for any recruiters,overseas entities,or complian

112、ce risks.Lastly,employee retention.If your employees dont quit,there wouldnt be a need to hire unless youre expanding business operations of course.Ask for feedback regularly,listen to what your employees want,and create a company culture that brings out the best in your employees.Our Talent Insight

113、s Report for Australia and New Zealand previously revealed that apart from a salary increase,employees are looking for a better reward and recognition program,flexible working options,better learning opportunities,subsidised health insurance,monetary bonuses or rewards,and extra leave days that coul

114、d be used for birthday celebrations,mental health needs,or volunteering.As always,we wish you,your business and your team all the best in your recruitment journey.STATE OF RECRUITMENT REPORT 28SMARTMATCHIntroducing SmartMatch by Employment HeroGreat talent on speed-dial.Why hire the hard way?SmartMa

115、tch eliminates the painful parts of recruiting like posting to job boards and sorting through bad applications so you can get back to doing what you do best.SmartMatch uses AI to connect standout candidates to your business based on their skills,interests and experience.You get great talent matched

116、to every role,and never have to post to a job board again.Forget spending hours writing job listings and hundreds of dollars advertising them.SmartMatch predicts future hiring needs and does the hard work for you.With SmartMatch,you can spend less time worrying about staffing and more time growing y

117、our business.Big business hiring on a small business budget.Forget expensive advertising and recruiter fees.Why should the big end of town get the best talent?Were levelling the playing field with cost-effective hiring solutions built specifically for SMEs.Try SmartMatch today TALENT MATCHINGMatch t

118、op talent to your business 24/7.Machine learning and predictive algorithms assess candidates to find the right fit.SAVE CANDIDATES FOR LATERNot ready to hire?Save standout talent for later with easy pipelining.Only external candidates are presented:current employees wont get matched.BETTER HIRES,FAS

119、TERFind quality talent and chat with them directly.Deliver a seamless recruitment experience,and hire great people at a fraction of the time and cost.STATE OF RECRUITMENT REPORT 29COMPARISONCOMPARING AUSTRALIA AND NEW ZEALANDHiring leaders in Australia received an average of 27 candidates for their

120、last role,compared to hiring leaders in New Zealand who received an average of 23.Hiring leaders in New Zealand are more likely to receive 4 applicants and below as compared to hiring leaders in Australia who are more likely to receive 11 to 30 applicants per role.QTHINKING ABOUT THE LAST ROLE YOU/Y

121、OUR COMPANY HIRED,HOW MANY CANDIDATES APPLIED?4 applicantsand below5 to 1011 to 3031 to 100101 applicantsand over30%27%28%13%3%21%28%30%17%4%New ZealandAustraliaSTATE OF RECRUITMENT REPORT 30COMPARISONThe time taken to fill open roles is faster in Australia than New Zealand.Australian hiring leaders

122、 are more likely to fill a role within one month or less,compared to hiring leaders in New Zealand(83%vs 78%).In particular,35%of hiring leaders in Australia said they filled a role within 1-10 days as compared to 29%in New Zealand.QTHINKING ABOUT THE LAST ROLE YOU/YOUR COMPANY HIRED,HOW LONG DID IT

123、 TAKE FOR THE POSITION TO BE FILLED?On average,Australian businesses have more new hires who leave within the first six months or do not pass probation,compared to New Zealand(19%vs 15%).43%of Australian businesses have 5%and below of new hires leave within the first six months or do not pass probat

124、ion,compared to 55%of hiring leaders in New Zealand.However,a larger proportion of Australian hiring leaders have 21-50%of their new hires leave within the first six months or do not pass probation,compared to hiring leaders in New Zealand 25%vs 16%.QON AVERAGE,WHAT PROPORTION OF YOUR HIRED CANDIDAT

125、ES LEAVE WITHIN THE FIRST 6 MONTHS OR DO NOT PASS THEIR DESIGNATED PROBATION PERIOD?NET 1 monthor less1-10 days11-20 days21-30 days1-2 months2-12 months1+year78%29%27%22%11%9%1%83%35%29%19%9%7%1%5 and below6 to 1011 to 2021 to 5051 and over55%11%11%16%7%43%13%12%25%6%New ZealandAustraliaNew ZealandA

126、ustraliaSTATE OF RECRUITMENT REPORT 31COMPARISONHiring leaders in New Zealand felt the pinch of increased advertising costs more acutely than Australian hiring leaders,with 12%saying costs have doubled or more,compared to 7%in Australia.QCOMPARED TO LAST YEAR,BY HOW MUCH HAVE YOUR TALENT ADVERTISING

127、 COSTS INCREASED?The two main reasons for the increase in hiring costs in both Australia and New Zealand are the same increased salaries due to rising cost of living and labour shortages.Interestingly,New Zealand hiring leaders were also more affected by increased jobs board posting costs(31%vs 25%)

128、,higher foreign worker levy and work visa costs(14%vs 8%),and increased time to hire(30%vs 24%)than Australian hiring leaders.QWHAT ARE THE REASONS FOR HIRING COSTS INCREASING?5 and below6 to 1516 to 2526 to 5051 to 99100 and over36%18%12%15%7%12%31%25%15%19%3%7%Labour shoragesIncreased jobs boardpo

129、sting costsIncreased commissionsfrom recruitmentagenciesIncreased time to hireLosing candidates tolarger businessesCandidates leavingduring their probationperiodIncrease in salaries dueto rising cost of livingHigher foreign workerlevy and work visa costsOther40%31%22%30%22%13%51%14%1%41%25%26%24%21%

130、18%41%8%1%New ZealandAustraliaNew ZealandAustraliaSTATE OF RECRUITMENT REPORT 32COMPARISONSentiments amongst hiring leaders in Australia and New Zealand were pretty similar.The only exception was that more hiring leaders in Australia agree that small businesses struggle to compete for talent with MN

131、Cs,compared to New Zealand(79%vs 72%).QHIRING LEADERS WHO AGREE WITH THE FOLLOWING STATEMENTS (SOMEWHAT AGREE+STRONGLY AGREE)With regards to time spent on hiring activities,hiring leaders in Australia spent slightly more hours per week,compared to hiring leaders in New Zealand(41 hours per week vs 3

132、8 hours per week).The biggest difference in time spent between hiring leaders in Australia and New Zealand was on candidate screening(6.5 hours per week vs 5.3 hours per week),candidate testing(5.3 hours per week vs 3.9 hours per week),and candidate interviewing(7.2 hours per week vs 6 hours per wee

133、k).QHOW MANY HOURS PER WEEK ON AVERAGE DO YOU/YOUR ORGANISATION SPEND ON EACH OF THE FOLLOWING HIRING ACTIVITIES?As a small business westruggle to compete fortalent with multinationalcorporationsThe cost of accessingjob boards is prohibitivefor SMEsThe current job boards in mycountry do not suit myo

134、rganisation/industryQuality technology to assistin the hiring process is outof reach for our budget72%62%47%63%79%66%44%67%New ZealandAustraliaJob adcreationJob adpostingCandidatescreeningInterviewschedulingCandidateinterviewingCandidatetestingCandidatechecksDrafting candidateofersCandidate contract

135、sexchange435.33.863.943.63.83.93.36.53.77.25.33.73.53.8New ZealandAustraliaNew ZealandAustraliaSTATE OF RECRUITMENT REPORT 33COMPARISONMETHODOLOGY AND SAMPLE PROFILEWe carried out quantitative research with 509 business leaders in Australia and New Zealand.The length of the survey was 3 minutes on a

136、verage.Respondents were from different organisation sizes and industries.The survey was conducted with the Glow survey platform,using the Dynata B2B panel from 27th to 30th June 2023.ORGANISATION SIZE SUMMARYINDUSTRY SUMMARY1-9 employees10-30 employees31-99 employees100-200 employees201-500 employee

137、s28%28%20%13%11%Hospitality,Retailand TourismConstruction,Manufacturing,Agriculture,Transporation&WholesaleFinance,Insurance,Technology,Businessand Professional ServicesEducation,Government,Cultural,Healthcareand Social Services30%30%20%19%COUNTRY SUMMARY50%50%Australia255254New ZealandSTATE OF RECR

138、UITMENT REPORT 34Employment Hero is the smarter way to manage people,payroll and productivity for SMEs with big ambitions.Employment Hero empowers SMEs by providing automated solutions to help launch them on the path to success by powering more productivity every day.Employment Hero services over 30

139、0,000 businesses,collectively managing over 2 million employees.Employment Hero is launching employers toward their goals,powering more productive teams and taking employment to rewarding new heights.OUR FEATURES INCLUDE:Shout Outs(Peer to peer recognition)Letter templatesApplicant tracking systemEm

140、ployee happiness scoresFeedback1:1sPerformance reviewsLearning management system(LMS)OKRs(Objectives and Key Results)Custom surveysAnd so much morePolicy templatesRecognitionAbout Employment HeroFor more information on how we can help transform your business,book a demo today.BOOK A DEMOAUNZSTATE OF RECRUITMENT REPORT 35This report was designed with love from the design studio and marketing teams at Employment H