Madgex Live

Innovating for the Future

Over the past year we have seen the world shift dramatically.

As we start sifting through the debris, we are beginning to see the path out. Though to do this, we need to look at how mindsets have changed, demand has altered and where we see the future of online recruitment going…

Contents

•

The Market As A Whole

•

Jobseeker Mindset

•

Recruiter Mindset

•

Madgex Live recordings available on the back page

The Market As A Whole

Before we can get to grips with what is happening now, it’s good to understand what has happened in the past. The last time we saw anything like this was in the 2008 recession, this time things are a bit more acute.

This time round 9.6m people or 1/3 of the UK working population where furloughed. More than that, 73% of businesses have furloughed employees. This means there is barely a household not aected by this upheaval. At its

high on May 8, 30% of the UK’s working population were furloughed. It’s a staggering amount but we are starting to see the beginnings of an uplift again. When we look at the UK Madgex Portfolio vs

The eects of the 2008 recession on UK Job Posting Supply and Demand

3,000

Unemployment Job posts

2,500

2,000

1,500

1,000

500

2001

2009

2014

2019

ONS - Oce for National Statistics

Madgex’s UK Customer Portfolio vs Indeed

All Madgex UK Customer Sites Indeed UK

-10

Madgex -39.6% Indeed -46.2%

-20

-30

-40

-50

-60

-70

-80

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Madgex and Indeed Hiring Lab – Statistics measures dis between platforms

In the UK Indeed set they saw a 46% drop and Madgex saw a 39% drop. However, this is now starting to climb again. When we begin to break this down by sectors, the story gets even more interesting. At the beginning of the year, most sectors were in a range of 60 – 120% increase compared to this year’s job postings data. Then, around the end of March when the world began Indeed UK and compare this year’s data to last year’s we can see quite a drop when it comes to job postings.

to shut down we see the expected drop.

Towards the end of this year we’re seeing a slow but steady incline across most sectors, with even some seeing a sharp boost or maintaining throughout the year, specically Transport & Warehouse, Childcare and Cleaning. On the other side of the spectrum, HR, Management and Admin are still struggling.

UK Job Postings by Sector 2020

Transport/ Warehouse

140

120

100

Childcare/ Cleaning

HR Management Admin

January February March April

May

June

July

August September

ONS - Oce for National Statistics - Adzuna

The Fallout from Furlough

So, who is all this aecting the most? Unfortunately, it seems to be younger people who are working in cities. Before all of this took place, around 11% of people age 16-25, not enrolled in university, were unemployed. This has now jumped to about 14%. 60% of those that were employed have been furloughed.

UK Furlough Uptake by age

70%

60%

50%

40%

30%

20%

10%

61 66 ONS - Oce for National Statistics

Reallocation Shock

The Response to Remote Working

The term “Reallocation Shock” is used by economists to describe the movement of wealth and consumer spending between sectors in times like these, but in this instance, we are looking at jobs shifting between sectors and industries.

With those still employed, many had to begin the new practice of working from home. A recent Gartner study has shown that “74% of CEOs say they will make remote working a larger part of the employee oering once lockdowns are over.” This move to working from home may become a more permanent part of our lives or at least be oered more freely than before. We expect this to be specied in job adverts or perhaps negotiated during interview stage.

A recent study by the University of Chicago said “we project that 32-42% of pandemic-induced layos will be permanent (in the sense that the job loser never returns to his or her old job). Thus, a successful recovery from the pandemic recession will require new jobs for at least 10 million workers.” This means that many are going to have to rethink their careers, or at least the path they’ll have to take to reach their desired goal. In particular, this is going to cause huge upheaval for Gen Z as they start their careers as well as Millennials who are already on the career ladder.

Jobseeker Mindset

As we have discussed the biggest transference in the market is the jobseeker’s approach to nding work. Their mindset has altered intensely over the last year and they are now looking at their career paths dierently. This is directly impacting how they look for work, and what they expect to see from a job board while looking for new work.

They are mainly focused on:

• Reecting on their careers • Pivoting skills to expand their options • Evaluating their long-term directions

This is because of the dramatic increase in unemployment over the last year, which again is even larger than the 2008 recession. As we saw earlier, Gen Z have been most aected by this pandemic when it comes to their employment.

With this candidate abundant market how can you help address this rising demand?

1 2 3

Review

- your search terms - your backll supply

Create

- a social media strategy

- a content strategy

Educate

- your clients

Let’s take a more indepth look at these 3 steps

Review

• Review your candidates’ journey. Make sure you understand how they are navigating your website.

• Review your search terms. What type of jobs are your audience looking for? What kind of searches are making them land on your site?

• Review your backll supply. You need to make sure this is up to date and regular so that there is always something for the jobseeker to come back to.

Create • Create a social media strategy. We have seen a 127% increase in applications from April to September this year via social media, which is 51% up YoY. No one should be ignoring the power of social media as we know this is a big channel for most aected demographic, Gen Z.

• Create a content strategy. Think beyond just delivering jobs by providing helpful content to your audience. Again, we have seen a large increase in people viewing content over the last year with a 55% increase in users looking for articles to help guide them.

Educate

•Your clients. Don’t leave them in the dark, give them information on how your audi- ence is looking for work, what kind of work they’re looking for and how you’re helping facilitate that process. It will drive them to want to post jobs on your site over others.

Recruiter Mindset

Speaking of recruiters, it is vital that we understand their current struggles and how we can comprehend their approach in this changing market too. Employers and recruiters posting jobs want to make sure that they are going to get their advert in front of the right jobseekers and get a good response from those that are qualied and interested in their role. Finally, they are interested in using cost-eective solutions. This translates into concerns about quality, quantity and price…

Let’s look at their rst concern: Quality.

As we mentioned before, the number of applications per vacancy is on the rise by 43%. This can be o putting for recruiters and employers as they are worried they are going to have to sort through a lot of unwanted applications. You can help alleviate this by educating your recruiters on how to post a job that will weed out any surplus applications. Our new application options can also help with this including screener questions and tick boxes on requirements for the role. Additionally, companies with great employer brands receive 50% more qualied applicants – so make sure that employer branding is taken seriously for recruiters and employers. Encourage them to ll these areas out and let them know it will increase quality candidate application rates.

Applicant rich market! Applications per vacancy

April 2020 to Sept 2020:

Sept 2019 to Sept 2020:

43% growth

41% growth

Up next let’s take a look at their second issue: Quantity.

This part as we know by now isn’t too much of a problem, however if you are struggling to get numbers up in a certain sector or industry try increasing your content production in that area to help drive more trac to your site. Additionally, make your home page a focus for this sector. That way recruiters will know that your business deals specically with this niche and will trust that your site is where they should place their advert.

Last but not least, their nal major consideration: Price.

You need to make sure that you have a clear pricing structure. Give it tiers, make it easy to under- stand what features are available with each package and that value is fully recognized with features like Job Target. If they have made it this far in their journey you don’t want to lose them now.

Our bonus tip: Recruiter Specic Content.

Jobseekers weren’t the only ones looking at more content this year, so were recruiters. With this number still higher than last year, you need to capitalize on their want for information. Create content specically for them, exploring their world and what’s happening within it, then lead them to your recruiter site. Next, on the recruiter homepage make sure you are again highlight- ing your USP as a job board, make sure it up to date to address what is happening right now and how you’re helping the situation.

Quality

Everything is Connected!

Content

USP

Video Content

Click the links below to catch up on any talks you missed during our live event, or to get more detail on the points and topics covered in this book

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