Demand for experienced leaders on the rise
The Australian digital advertising and ad tech industry job vacancy rates have dropped from 11.8% in July 2022 to just 4.5% in July 2023 according to the IAB Australia- 2023 Industry Talent Report released today. Demand for entry level employees has also plummeted from 27% of job openings to just 14%, with organisations instead seeking more experienced and commercially driven leaders. The vast majority of open roles are currently for sales managers and sales strategists, with companies focusing on driving revenue and seeking ways to stand out from their competitors.
While the Report found no evidence of any organisations planning to significantly increase their workforce over the next six months, it did find cautious optimism, with more than half of companies looking to make modest increases to staffing levels.
Despite the vacancy rates dropping, the average salary increased 4.2% in the 12 months to July 2023. Whilst this is down from 7.6% in the preceding year, Australia remains a premium job market thanks to the cumulative increases in digital advertising specialist salaries over the last few years.
The impact of AI on the industry is already being felt with more than half of all organisations working on using AI to increase the productivity of their current team or to improve their products. Just 10% of organisations anticipate staff reductions or restructuring over the next 12 months as a result of integrating AI-driven efficiencies in their organisations.
Gai Le Roy, CEO of IAB Australia commented “The 2023 digital industry and ad tech talent market has undergone a significant shift in the last year, moving from a market that was desperate for talent last year to vacancy rates that are close to 2020 levels. Most companies are currently focused on hiring gun talent that can drive commercial outcomes however the intent is to open more roles in coming months.
“On a personal note I am thrilled with the continued growth of women in senior leaderships roles in the industry as well as so many companies following through on their intentions to introduce environmental and sustainability policies,” said Le Roy.
The Report also found
An increase in women holding senior management roles (from 26% in 2022 to 38% in 2023) and broad parity across commercial roles (49%). Women in technical and engineering roles increased from 13% to 18%, while women in product roles reached 44%, up from 36% in the preceding year.
Diversity, equity, and inclusion (DE&I) policies are present in 86% of organisations. Those that do not yet have policies in place tend to be smaller or newer organisations.
o Gender is the most common factor in these policies
o Neurodiversity is the least common factor, followed by age.
Environmental and sustainability policies have now been adopted by 75% of organisations – up from 41% in 2022. A further 15% are planning to introduce a policy shortly.
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About the Interactive Advertising Bureau
As an independent industry association with more than 170 members in Australia and nearly 9,000 globally spanning media owners, publishers, technology companies, agencies, and advertisers, IAB works to align industry stakeholders to develop solutions for the issues faced by the market and develop standards that are integral to the operation of digital advertising.
As one of 47 IAB offices globally, the role of the IAB is to support sustainable and diverse investment in digital advertising across all platforms in Australia as well as demonstrating to marketers and agencies the many ways digital advertising can deliver on business objectives.