When’s the best time to look for a new job?

Being in the employment industry, people often ask me: when is the best time to look for a job? Normally, I would say something along the lines of “every industry has its busy and slow times, so it helps to think through when your skills would be in high demand.” But not in 2022. I have never seen the job market like this before. I don’t think we’ve ever seen this level of supply-demand constraints. Australians are living in the best labour market in 50 years. By the end of 2021, there were 13,242,000 Australians in paid work, nearly 3 per cent higher than a year earlier. A record 366,100 jobs were added in November alone, eclipsing forecasts by about 160,000. Philip Lowe, governor of the Reserve Bank, to the National Press Club in early February that “The last time we had an unemployment rate below 4 per cent for any period of time was in the early 1970s – half a century ago. The decline in the unemployment rate has been accompanied by a welcome decline in under-employment.”

People all over the world over have been changed from the global pandemic. It’s left many candidates reconsidering why and how they work with a focus on what allows them to have a better work/life balance including increased flexibility. You may have heard of the phrase the “great resignation“ mentioned in industry circles.  It related to the expected increase in employees leaving work to seek fulfilment, having experienced how easy it is to work from home and reduce the daily commute and office grind during the pandemic.

The updated phrase that you will now hear and read everywhere is referred to as the “great job boom”. There are more job opportunities than ever before. There’s also less competition for these roles so it’s definitely a jobseeker’s market. Many Australians are looking for better work-life balance, with bigger salaries and promotions in their careers. Jobseekers have never had more choice and negotiation power when it comes to job opportunities here. It’s a candidate’s market.

What is a candidate’s market?

A candidate’s market is when there are more job vacancies available than there are candidates looking for work.  This is due in part to candidates considering their futures but also due to the impact the pandemic has had on immigration to Australia. The tough stance on Australian border closures has led to fewer jobseekers coming to Australia. With less skilled workers moving here for work, the candidate pool has decreased.

How to maximise your job seeking opportunities

Some tips on ways to do this are:

Update your resume

Be sure to check your contact information is up to date, revise your summary, fix your layout so it looks professional, update your work history, add new skills and get rid of the ones that aren’t relevant to the role you’re applying for.

Set your career goals
Set out your SMART career goals. Use one of the many free templates you can download to map out your specific, measureable, achievable, relevant and time-bound goals.

Update your Admin Avenues online profile
Ensure your Admin Avenues profile is up to date. Set up a job alerts through your Admin Avenues profile to receive email updates relating to the industry and job roles you’re interested in.

Prepare your references
Having the right references can make all the difference to landing a potential job.

Research what you might be asked in an interview
Job interviews can be nerve-racking. A way to help with those nerves is to be prepared. Write a list of questions you think you might be asked and then practice answering them.

Tap into your network to find work
One of the most powerful ways of finding out about work opportunities is through our networks. ‘Network’ really refers to anyone you know or have worked with in the past. If you’re already part of the Admin Avenues network, you’re not only welcome to but you’re encouraged to network in our online communities. We’re also happy to connect you with people in our community. Just contact us to let us know how we can help.

Get in touch with recruiters
If you’re looking for work, recruiters are great people to be in touch with. Connecting with the right recruiters can save time and help improve your resume and interview skills. They offer insight and tips with their insider knowledge. Recruiters are also great at keeping you in the loop.

If you’ve been considering taking your next step in your career and/or considering a move into a more senior position, this my friends if your time to take these opportunities on offer. Your chances are incredibly strong.

I’m Reluctant 

Don’t stress, even if you are feeling reluctant to switch jobs, you can still use the current job market to your advantage. This is the perfect opportunity to negotiate a higher salary, a new role at your current company or better working conditions – something many of us are due for after two years of the pandemic. Traditionally the best – and most common – way of negotiating a pay increase with an existing employer was to put another job offer on the table. But with the jobs market so hot right now, employees who consider themselves undervalued need to get proactive about getting a pay rise or better conditions – or both. You need to back yourself. Shake off the imposter syndrome. If you truly know your value to your company and you are seeking a pay rise, you may find you are talking to a sympathetic audience who are willing to listen and play ball.

Let us know in the comments section below your thoughts on job seeking at the moment.