New data from recruitment management software JobAdder shows job seekers are inundating job boards in the hunt for employment— and recruitment professionals are beginning to struggle with the influx of applications. JobAdder’s Q1-Q2 State of Market Reports reveals job applications at Aussie recruitment agencies are surging by 41% since Q2 2023.
Job boards or ad channels are the biggest source of applications, with their share rising from 57% in 2022 to 78% in Q2 2024. Despite their increasing popularity job boards are deeply disappointing as they take recruiters 15.2 days longer to place candidates.
In a market where recruitment teams have been impacted by layoffs, recruiters who managed to keep their jobs are at breaking point. And jobseekers aren’t feeling much better either.
The Current Job Market: Key Takeaways
Job boards soar in popularity
The report uncovers a remarkable shift, highlighting that job boards and ad channels now account for a staggering 78% of job applications received by recruitment agencies in Q2 2024. This figure marks a significant increase from 73% in Q2 2023 and 57% in Q2 2022.
Job boards slow hiring down
While they dominate the application process, job boards take recruitment agencies an average of 16.3 days longer to place a candidate, and in-house teams face an additional 11-day delay in Q2 2023. This means that the recruitment process can extend well beyond a month. In contrast, proactive sourcing which includes internal databases and networks enables recruiters to secure hires in under a month, with recruitment agencies averaging 26.5 days and in-house teams clocking in at 24.2 days in Q2 2024.
Job boards lead to candidate oversupply
Job boards and ad channels let anyone apply, but quantity doesn’t mean quality. The number of applications per job is skyrocketing—recruitment agencies saw an increase from 26.8 in Q2 2023 to 37.8 in Q2 2024, a staggering 41% year-on-year rise and a 165% jump since 2022. In-house talent acquisition is facing a similar situation, with an increase of 19.6 applications per job this year.
