Power is shifting from the hirer to the job seeker. Here’s why.

It sounds too good to be true.

Experts say the balance of power between job interviewees and employers is about to shift, giving the job seeker the upper hand.

Job seekers will soon be able to demand their ideal conditions and pay, and it will be employers who will need to fight for talent.

Do you believe it? Let’s go through what we know, using PwC’s report What workers want: Winning the war of talent .

Why are job seekers about to be on easy street?

It’s all related to the ‘Great Resignation’.

PwC’s survey found 38% of Australian professionals were looking to leave their current employer in the next 12 months.

Why? Australia has just experienced the lowest employee turnover on record. A lot of people have hunkered down over the pandemic, sticking with jobs and possibly thinking about what they really want in life. As the pandemic eases, people may feel less risk averse and will start looking for a new job.

PwC Australia Future of Work Lead Dr Ben Hamer says Australia is on the precipice of the Great Resignation.?

“This phenomenon will be in full swing by March 2022 driven by market stability, increased consumer confidence, the likely softening of interstate borders, and the usual post-summer holiday recruitment activity."

“Competition for talent will intensify and those that fail to adapt will take a big hit.”

In this scenario, employers face the possibility of losing a fair chunk of their staff and will be looking to retain existing staff and hire new talent, along with everyone else.

Hence, a talent war where job seekers have the upper hand.

Does this apply to every industry?

Not entirely. This research only looks at ‘professionals’ in general, suggesting an across-the-board trend, but I’m sure some of you reading this will be thinking ‘not in my industry’.

The Australian Federal Government’s Jobs Outlook suggests growth industries in need of workers are health care and social assistance , professional, scientific and technical services , education and training and construction.

If I can name my demands in an interview, what should I ask for?

The report shows most people rank remuneration (pay and bonuses) as the most important factor in considering a job, followed by wellbeing (mental health support and gym memberships) and then experience (team culture as well as diversity, inclusion and belonging).

“Workers value different things,” Dr Hamer says. “This may be influenced by their culture and upbringing, their stage of life, caring commitments, financial liabilities, socioeconomic status, and a whole range of other factors."

Perhaps you value flexibility more highly, or care about whether an employer takes a stand on issues you’re passionate about. Rank the following perks to get a clear idea of what you’re after:

Remuneration

Wellbeing

Experience

Ways of working

Career development

Company brand

Workspaces and places?

What do you think? Are we all going to be waltzing into new roles in the coming year? Share your thoughts on how you see the jobs market panning out in Australia and New Zealand over the coming year.

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