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Create incredible candidate experiences that communicate your brand, mission, and values with recruitment marketing solutions.
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Learn moreThe #1 ATS in market share, our cloud-based recruiting software is built for both commercial and large, global employers.
Learn more Talk to salesAttract the best talent for your business with powerful, on-brand career websites that excite candidates and drive engagement.
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Learn more Talk to salesRecruit in the modern world and expand your reach with built-in virtual interviewing.
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Learn more Talk to SalesImprove employee experience, retention, and reduce internal talent mobility friction with the iCIMS Opportunity Marketplace.
Learn more Talk to salesCompliment your sourcing and engagement efforts with sophisticated lead scoring and advanced campaign personalization.
Learn more Talk to salesModernize, streamline, and accelerate your communication with candidates and employees.
Learn more Talk to salesTransform the talent experience by showcasing your authentic employer brand through employee-generated video testimonials.
Learn more Talk to salesGive your business a competitive edge with a complete solution for creating personalized, timely, and accurate digital offer letters that inspire candidates to want to join your team.
Learn more Talk to SalesGet robust analytics that help you make sense of your data and illuminate your talent pool.
Learn moreSimplify recruiting, dynamically engage talent, and reduce hiring bias with job matching and recruiting chatbot technology.
Learn more Talk to salesThe #1 ATS in market share, our cloud-based recruiting software is built for both commercial and large, global employers.
Learn more Talk to salesAttract the best talent for your business with powerful, on-brand career websites that excite candidates and drive engagement.
Learn more Talk to salesBuild talent pipelines, engage candidates with multi-channel marketing campaigns, and use machine learning to automatically surface the right talent for the job.
Learn more Talk to salesEmpower candidates with automated self-service, qualification screening, and interview scheduling through an AI-enabled digital assistant.
Learn more Talk to salesSimplify employee onboarding with automated processes that maximize engagement and accelerate productivity.
Learn more Talk to salesCompliment your sourcing and engagement efforts with award-winning lead scoring and advanced campaign personalization.
Learn moreImprove employee experience, retention, and reduce internal talent mobility friction with the iCIMS Opportunity Marketplace.
Learn more Talk to salesModernise, streamline, and accelerate your communication with candidates and personnel.
Learn more Talk to salesTransform the talent experience by showcasing your authentic employer brand through employee-generated video testimonials.
Learn more Talk to salesGet robust analytics that help you make sense of your data and illuminate your talent pool.
Learn moreSimplify recruiting, dynamically engage talent, and reduce hiring bias with job matching and recruiting chatbot technology.
Learn more Talk to salesHow PRMG attracts 50% more applicants for niche finance roles with the iCIMS Talent Cloud.
Learn moreThousands strong, our global community of talent professionals includes creatives, innovators, visionaries, and experts.
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Learn moreExpert guidance about recruitment solutions, changes in the industry, and the future of talent.
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Learn moreWatch the recording of our latest webinar looking at key findings from a recent study and explore short-term and long-term solutions for the talent crisis in 2022 and beyond.
Watch on-demandView press releases, media coverage, and the latest hiring data. See what analysts are saying about iCIMS.
Learn moreiCIMS is the Talent Cloud company that empowers organizations to attract, engage, hire, and advance the talent that builds a winning workforce.
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Learn moreWe believe the future of work isn't something that "happens" to you. It's something you create. We actively create the future of work with our customers every day.
Learn moreStreamline your tech stack and take advantage of a better user experience and stronger data governance with ADP and the iCIMS Talent Cloud.
Learn moreThe combined power of iCIMS and Infor helps organizations strategically align their business and talent objectives.
Learn moreOur award-winning partnership with Microsoft is grounded in a shared desire to transform the workplace and the hiring team experience.
Learn moreOur partnership with Ultimate Kronos Group (UKG) supports the entire talent lifecycle by bringing frictionless recruiting solutions to UKG Pro Onboarding.
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As we settle into a new year, it’s time to look back at the last 12 months of job market activity. iCIMS data shows that last year was a remarkable one — will 2024 continue to defy expectations? Or will employers finally get caught in some of the stormy forecasts?
Our January Workforce Report investigates:
Employers didn’t have many reasons for optimism as they entered 2023. Headlines forecasted economic turmoil, predicted labor market declines and continually reported news of layoffs. And yet, iCIMS data shows that, overall, the job market chugged along for most of the year.
Application volume, for instance, began on a high in January. Levels remained robust throughout 2023, falling only in Q4, when a dip in applicants is nothing but typical. Even so, employers closed the year with 14% more applicants than in 2022.
It follows that applicants per opening (APO) enjoyed a strong year, too. APO took off in 2023 — the number of applicants vying for an open position skyrocketed from 19 to 26.
Employers in the tech industry felt this transformation most intensely. APO for tech jobs grew from 26 in 2022 to 46 in 2023. Meanwhile, employers in the healthcare industry continued to struggle with applicant rates. Their APO levels saw some growth, however, moving from 13 in 2022 to 18 in 2023.
For more insights into how employers dealt with an influx of applicants, download the full January Workforce Report.
If a consistent uptick in applications was one of the markers of last year’s job market, employers may be pondering a few actions. One might be making sure their career sites are ready to process and entice those extra applicants.
Another task may be to check in with employee sentiment. Strong applicant numbers means movement among workers, and movement means turnover. Will there be another mass exodus in 2024? Are employees ready to flee?
That doesn’t seem to be the case. According to a December 2023 iCIMS survey, more than half of respondents rated their job satisfaction at an eight or higher, on a scale of 10. This widespread satisfaction corresponds with a general sense of security: 87% of people said they weren’t concerned about getting laid off in 2024.
Despite high levels of satisfaction and security, 51% of workers reported intentions to look for a new job in 2024. When asked why they planned to find a new position, money was the most popular response by far:
While a “lack of opportunities for growth” fell low on the list of reasons for a job change, many workers showed significant concern over issues relating to professional growth. Half of workers, for instance, said they will look for a new job if they don’t receive an expected promotion in the next year. And 63% of employees making less than $25,000 said they don’t feel their employers provide them with skills to grow.
Other motivating factors indicated by respondents point to what workers value most in 2024. Forty-four percent of respondents said they would consider finding a new job if their current employer did not demonstrate a commitment to promoting DEI in the workplace. Work arrangements proved to be of importance, too. More than a third of people working in hybrid environments said they may look for a new job if their company announced a return to office full time.
Care to learn more about valuable talent insights? Download the full January Workforce Report.
and receive free tips on how to attract, engage, hire, & advance the best talent.
Rhea Moss is director of customer experience and data insights at iCIMS. She oversees the iCIMS Insights program, which aggregates and anonymizes the billions of data points iCIMS’ software processes per year and transforms them into actionable insights to help drive business and hiring strategies. Previously, Rhea was head of products at prescriptive data, and served as product and program managers at MongoDB and Thomson Reuters.
January 18, 2024 
4 min read
