November 1st, 2022 | Sterling

Are you planning to increase your hiring for 2023? If so, you’re not alone

Job vacancies are on the rise in Australia, India and Singapore, according to recent findings by LinkedIn.

Unfazed by the looming threat of recession, many companies increased their hiring in June 2022 compared to the same period last year. This surge has been particularly notable across the hospitality, retail and entertainment industries.

The growth in job postings is largely attributed to a post-pandemic recovery – hospitality and entertainment businesses were hit particularly hard and are understandably making up for lost time as tourism grinds back into gear.

Hospitality, retail and entertainment companies also typically face higher turnover rates compared to other sectors, meaning the current hiring needs are a combination of the usual turnover requirements combined with the extra recruitment needed to compensate for staffing losses during the pandemic.

How can your organisation hire smarter and quicker?

Meeting this unique level of demand will be challenging, and it’s especially important for companies to secure talent quickly in the current climate.

The findings by LinkedIn indicated that whilst job postings are up compared to last year, there is significantly less competition for each role. In fact, there was over a 50% drop in the average number of applications submitted for paid job postings on LinkedIn across the three nations.

LinkedIn’s Asia-Pacific Managing Director, Feon Ang, suggested that this is due to job seekers “being more selective in picking their next role”. We’re therefore seeing a job market that is being driven by job seekers and their expectations.

For companies who are increasing their hires this year, it’s vital to make the recruitment and onboarding process as quick and straightforward as possible to attract the best candidates.

One way to achieve this is to speed up the background screening process in order for hiring decisions to be made swiftly. Using an experienced external background screening provider like Sterling helps to streamline the process and ensure that candidates are screened and moved onto the next stage of recruitment as soon as possible.

Sterling also provides convenient and user-friendly screening solutions that make it easy for candidates to conduct their screening at a time and place that suits them.

If you’d like to learn more about the services that Sterling can offer to help you hire smarter and quicker, contact us here.

This content is offered for informational purposes only. First Advantage is not a law firm, and this content does not, and is not intended to, constitute legal advice.  Information in this may not constitute the most up-to-date legal or other information.

Readers of this content should contact their attorney or lawyer to obtain advice concerning any particular legal matter.  No reader, or user of this content, should act or refrain from acting on the basis of information in this content without first seeking legal advice from counsel or lawyers in the relevant jurisdiction.  Only your individual attorney or legal advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation.  Use of, and access to, this content does not create an attorney-client relationship between the reader, or user of this presentation and First Advantage.