How will the labour market look in 2024: how many applications will the average jobseeker make?
The majority of applicants submit their CVs to at least two, but no more than five places at the same time - this is one of the findings of an online survey conducted by the 55th University of Technology Job Fair. The responses from the companies surveyed show that although we live in a world of social media, most companies advertise their vacancies in traditional ways and channels, such as career portals, job fairs or their own company websites.
In their latest research, the organisers of the University of Technology Job Fair examined recruitment trends, including employers' preferences and employees' skills.
Balázs Orbán, Managing Director of the University of Technology Student Association, said that according to the survey of more than 400 employees, the majority (82%) are looking for jobs on job search portals, but every second respondent is also looking for jobs on the employers' website. The third most popular platform is the University of Technology Job Market (38%), but a significant number of jobseekers also look on social media (37%) and LinkedIn (32%).
"Interestingly, only 30% of participants were specifically looking for a job, but the vast majority, 59%, were open to offers even if they currently had a job. Almost half of those surveyed submit their CVs to at least two and up to five jobs, but 7 per cent said they would apply for more than 15 jobs at a time", the organiser of the 55th University of Technology Job Fair pointed out.
Asked what they consider important before sending in their application, 87 percent of people said they update their CV, three out of four check the company's website and a third browse the social media page of the company they are applying for. They prepare for the interview mainly by writing down questions, making an outline and reviewing the company profile
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Work experience and salary requirements matter most to employers
Balázs Orbán, referring to the questionnaires filled in by employers, said that more than 70 percent of companies base their recruitment strategy on current trends and expectations, and only 30 percent on need, supply and budget.
The survey found that on average, there are three rounds of interviewing and selection. It typically consists of a phone interview, a face-to-face interview and a mock interview. Thirty-five percent of employers use a psychological assessment, and 95 percent forego a physical assessment.
"It is noteworthy that from the identification of a gap to the hiring process takes on average two months for the companies surveyed, which is the time it takes to fill vacancies. We also found that 60% of companies prefer redeployment and 80% are in favour of offering staff," said Balázs Orbán.
On a scale of one to five, the extent to which the factors listed influence firms in the selection process, experience leads (4.9), but salary requirements (4.7), other factors such as the opinion of a field manager (4.65) and personal perceptions (4.55). Employers are least concerned about the educational institution the candidate graduated from (2.5), the distance between the job and the place of residence (2.4) and the applicant's marital status (2).
photo: freepik