With hiring challenges on the rise, here's how Australian employers can leverage data for smarter recruitment
This article was produced in partnership with PageUp
PageUp is a global talent management software provider, helping organizations attract, develop, and retain top talent. Founded in 1997, PageUp delivers innovative solutions across recruitment, onboarding, learning, performance management, and workforce analytics. With a commitment to continuous improvement and customer success, PageUp supports organizations in achieving their strategic goals by empowering their people to thrive. Headquartered in Melbourne, Australia, the company operates with a global footprint across key markets.
Since 2022, Australia’s job market has undergone significant shifts, driven by the economic slowdown. Job advertisement volumes have dropped, applications have surged, and the pace of hiring has slowed.
According to new data from PageUp, job ads in Australia are now 15% lower than in early 2022, while applications have increased by 48%.
Rebecca Skilbeck, Head of Customer Insights & Market Research at PageUp, says that organisations are clearly still facing hiring challenges, despite the market tilting more towards employers compared to 2022.
“This highlights that there’s really a mismatch between what companies are looking for, and the skills on offer,” Skilbeck notes.
So, how can employers navigate this challenging environment? According to PageUp’s data, there are several key hiring metrics organisations should pay attention to.
The applicant-to-hire rate shows how many applicants an organisation must consider to find the right hire. According to PageUp, the average applicant-to-hire rate in Australia is currently 4%, or about one hire for every 25 applicants. This is the lowest rate seen since 2018, aligning with the increase in applicants per role.
“This metric tells an important story around the effectiveness of your job listings,” Skilbeck notes.
“Tracking this can show you whether your job ads are targeted enough, and if you’re looking in the right sourcing channels to find the right talent and reach the right audience.”
To boost applicant quality, companies are encouraged to focus on quality over quantity by refining sourcing channels, and using technology to manage high application volumes. Skilbeck also suggests closely collaborating with hiring managers to clarify job requirements and develop well-defined job descriptions.
The candidate-to-hire rate measures how many candidates proceed through the hiring process before a successful hire is made. Currently, this rate averages 16%, meaning 4 out of every 25 candidates make it to a final offer.
“It can be tempting to put more candidates into the mix, but this can be costly and could negatively impact your employer brand,” Skilbeck says.
“A low rate means you’re saying ‘no’ to lots of candidates, which is undesirable. It’s hard to have a high-quality experience when you’re putting a lot of people through the process.”
For organisations, this means using effective screening tools to identify the most promising talent, and putting fewer candidates through a higher-touch and higher-quality process. Staying in contact with ‘silver medallists’ will also help keep your talent pool warm for future opportunities.
Offer acceptance rate measures the proportion of final-stage candidates who accept an employment offer. In 2024, Australia’s average offer acceptance rate stands at 91%.
“You go to a lot of effort to find the one, the right candidate that’s fit for your organisation,” Skilbeck notes.
“You’ve taken them through the recruitment funnel, they’ve been screened, interviewed and possibly tested, you’ve done a background check. What happens if they say ‘no’ at the final stage? You’re back to square one, and you’ve wasted valuable time and resources.”
With rejection at the offer stage costing up to $24,000 per candidate, Skilbeck recommends using a transparent and attractive employer brand to prevent late-stage refusals. Companies should promote their stance on flexibility, benefits, and career growth, giving candidates a clear picture of their future role. Discussing salary expectations early can also reduce compensation-based rejections.
Sourcing channel effectiveness reveals which recruitment channels yield the best candidates and hires. Skilbeck notes: “There’s a difference between knowing where your applications come from, and knowing the effectiveness of each source.”
PageUp’s 2024 data shows that while 69% of applications originate from job boards, only 22% of hires come from this source. In contrast, career sites account for 12% of applications and 9% of hires, offering a more effective platform for showcasing a company’s employer value proposition (EVP) and creating an authentic candidate experience.
Overall, understanding your best sources of talent will help ensure you get the best ‘bang for your buck’ in terms of spend and effort.
As mobile usage increases, the desktop-to-mobile application ratio has become crucial for optimising the candidate experience. In 2015, only 6% of applications were submitted via mobile; today, that number has risen to 35%. Despite this growth, 24% of incomplete applications occur on mobile devices, signaling a need for improvement.
“Companies need to deliver a consumer-grade, mobile optimised recruitment journey to attract and secure top talent,” Skilbeck says.
Tracking this ratio, along with metrics like “percentage incomplete,” allows companies to understand where candidates may drop off in the application process. With more candidates now applying via mobile, providing an optimised, user-friendly experience across all devices is increasingly vital.
To find out more about PageUp’s latest data and recruitment insights, click here.
