New year, renewed market.

2024 seems to have started an age ago, with memories of watching the fireworks of NYE in the Philippines with my partner, family and friends nothing but a distant memory. This week however is always seen as the 'unofficial' week back in office for many, with 2024 truly kicking off after the Australia Day weekend.

As many parents took the summer off to spend time with their children and workers across Australia relaxed by the beach in the summer heat, it's common knowledge that the Christmas recruitment market is a sand filled desert with little to no hiring taking place. I mean who is hiring when the choice between signing a contract and sipping a sangria is the biggest one to make on a Tuesday afternoon?

Now though, with the summer holidays coming to an end and the slow, cumbersome return to the office approaches it's interesting to take note of the early signs of optimism in the employment sector. Since around April 2023, most recruiters have struggled to adjust to the severe drop off in hiring requirements as a post-COVID Australian economy put a halt to the rapid hiring of previous years and many businesses took stock of their current workforce. Redundancies and restructures were in abundance and a 'normalisation' of the employment market was in full swing.

As we fast forward ten months, we see unemployment figures still stubbornly low at 3.8% but glimmers of hope emerging as inflation eased from the recent Dec 2022 high of 7.8% to 5.4% in the Sept 2023 figures. Coupled with persistent retail spending and the ASX at a huge 7582.9, we're seeing a renewed confidence in the economy and therefore more hope, more jobs and a potentially better 2024 for jobseekers, employees and recruiters alike.

It's important to remember that it's still very early in 2024 and it will take a few weeks for most organisations to get their ducks in a row before going to market with new roles. Many have renewed budgets, 2024 strategy plans ready to go and a general need for new headcount to implement said strategies. In our world of Marketing, Communications and Digital the first quarter of the year has historically been the strongest of the four, with demand for talent at a peak. If you're a jobseeker it's important to have the following ready when looking for a role:

• Resume. An updated and ready to go resume. If you don't have one, here's a guide on how to write one - https://investedtalent.com.au/how-to-write-a-resume-in-my-opinion/
• Time. Allocate time to look through job boards and connect with recruiters in your space. Don't spend days on end needlessly scouring the dark depths of every job board, Seek and LinkedIn Jobs will cover 95% of the market and their filters are very good. Set aside 30-60 mins a day to look at what's out there, generally speaking lunch or EOD are the best times to post jobs.
• Appetite. New Years generally mean a lot of 'passive' talent comes to market after a period of time away from work and the opportunity to reflect on what you want from 2024 and beyonf=d. It's good to explore what's out there and evaluate your market value and worth, but have a plan in mind when talking to recruiters, come with ideas of what you're looking for but listen to the advice and use it to your advantage in your search.
• Patience. The market is not what it once was, there is absolutely renewed optimism and we've already seen a large uplift in jobs to work on but it's still no 2021. Finding the perfect role will take time, effort, energy and a LOT of patience. Don't lose faith, stick to your guns and ensure you're ready to go when that ideal opportunity arises.

The market has started strongly in 2024 and long may it continue, with employers now returning to the workforce in their droves it is shaping up to be a busy start to the year. If you're a jobseeker or an employer looking for a role or talent this year then don't hesitate to reach out to me on my email [email protected] or on LinkedIn.