Despite a smaller share of female applications to roles with more than $100,000 salaries, hires were almost split 50/50 between women and men in February 2024. iCIMS, a leading provider of talent acquisition technology, released the iCIMS Insights March Workforce Report, revealing that women account for 47% of hires for roles with six figure salaries, while only responsible for 37% of applications for these roles.
The report also provides a view into hiring trends in Europe, revealing that candidates and employers in EMEA do not see eye-to-eye, amidst looming economic challenges.
“Our new report is packed with data that isn’t just relevant for U.S. and European-based companies,” said Rhea Moss, global head of workforce and customer insights. “The analysis we provide gives global talent acquisition teams the critical insights they need to make better decisions for their business, and ultimately hire and retain the talent they need to succeed.”
Key insights on the state of the talent market:
- Hires hold steady. While a short month, employers and candidates remained busy as January applicants may have become February hires. While down 11% month over month, applications are still coming in strong and were up 2% from the start of last year, a potential result of the rising unemployment rate in March. Hires (-5%) and job openings (-1%) held relatively steady from January 2023.
- Time to fill (surprisingly) remains consistent. Slimmed-down recruiting teams seemingly worked their magic, with time to fill (TTF) open roles hovering steadily at about five and a half weeks. This has remained steady – give or take a few days – from January 2023, despite the influx of candidates since then.
- Internal mobility is on the rise. Employers and job seekers were on the same page in February with an emphasis on internal mobility. Internal hires were 4% higher than at the start of 2023, and internal applications were 7% higher than January 2023, despite the month-over-month dip in overall applications from the start of this year. External hires dipped 6%
- Women lag behind men in application volume. The rise in applications is being driven by men, with a 23% increase in overall male applicants from February 2023. On the contrary, women saw only a 15% increase in applications at the same time.
EMEA insights:
- The EMEA workforce is not seeing eye-to-eye. Despite a small dip in February, EMEA application volume remains high – up 43% from January 2023. But employers held back on hiring, which dipped 14% below January 2023 levels last month. While they have not extended job offers, EMEA employers have opened new jobs at a steady pace, with openings in February remaining flat month over month and declining by just 4% from the start of last year.
- EMEA employers are in the driver’s seat. The balance of power has shifted away from candidates as applicants per opening (APO) in EMEA boomed to 43 in February, which is 44% higher than in February 2023.
- LinkedIn takes the crown in EMEA. LinkedIn pulled in 62% of EMEA applicants over other job boards in February, among iCIMS customers.
“Hiring a global workforce comes with many challenges, but data like this can be a game changer for organizations as they map out their strategies to succeed in this ever-changing economic environment,” said Eric Gellé, SVP of EMEA.
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