Digital advertising and ad tech industry job vacancy rates in Australia have more than doubled in the last year.
This surge was driven by a combination of strong market growth, changes in visa rules, lack of new talent entering the market due to border restrictions and the entry of new large global organizations into the Australian market, according to the IAB Australia’s inaugural Industry Talent Report.
In the process, this has created a critical squeeze on talent availability and an increase in the cost of talent.
“The demand for talent in the Australian digital advertising market is the highest that I have seen in my 20+ years in the industry,” said Gai Le Roy, the chief executive officer at IAB Australia. “Although we are seeing higher job vacancy rates globally in our industry, the problem and ongoing risk for the Australian market has been heightened with longer border restrictions as well as changes to visa rules that have had a major impact on any overseas talent entering the market.
“We are already seeing global organizations looking at decreasing their investment in the Australian market due to talent shortages and costs.”
What did the report find?
From a gender standpoint, the Industry Talent Report found that while there is even representation across commercial roles (58% of industry headcount), almost three-quarters of commercial management senior leadership roles are held by men.
Nine in 10 technical and engineering roles are held by men, while seven in 10 marketing roles are held by women.
The most competitive sector of the recruitment market was identified as people with three to five years’ experience, resulting in many organizations opting to recruit people with less experience and to factor in the cost for internal training and upskilling.
Junior to mid-level account and sales managers, traders and performance and programmatic managers were identified as the top three categories of job roles that advertising and adtech companies in Australia are finding the most difficult to fill.
Software engineers, product and tech support and tech developers were also proving challenging.