Applications fall

CV-Library data shows impact of pandemic on candidates.

Quarterly data from CV-Library has shown the number of applications per vacancy dropped by 9 per cent quarter-on-quarter and by 16.2 per cent year-on-year, giving candidates more power during the hiring process. The findings explore job market data from Q1 2021 (Jan – Mar) and compares this with the previous quarter (Q4 2020, Oct – Dec) and during the same period in 2020 (Q1 2020, Jan – Mar).

The analysis reveals that while the number of job postings is up by 18.1 per cent quarter-on-quarter, the number of applications has only increased by 7.5 per cent. In addition, when comparing the yearly figures, the number of job applications has dropped by a whopping 17.9 per cent year-on-year, while job postings are only 2.2 per cent lower than in Q1 2020.

“As a result of COVID-19, not only has the influx of candidates increased competition for top roles, it’s also made it harder to negotiate for a higher salary or better benefits,” says Lee Biggins, CEO and founder of CV-Library. “However, the latest quarterly data suggests that the tables are turning as fewer applications per vacancy means candidates have more power.”

The findings also show that salaries have dropped by a significant 6.9 per cent year-on-year. “While salaries have dropped over the last 12 months, candidates will be glad to hear that this period is coming to an end,” said Biggins. “As competition for top roles ebbs, job seekers should feel confident to negotiate for the salary package they actually want.

“What’s more, it’s vital that businesses work with candidates to find common ground when it comes to negotiating wages,” he concluded. “If not, they’ll struggle to secure the best talent and may find it difficult to stay one step ahead of their competitors over the coming months.”

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