Pulse released the "2023 Spring Recruitment Talent Migration Report": only 15% of personnel actively switch jobs, and about 45% of personnel consider demotion for employment

On May 30th, Maimai Gaopin released the "2023 Spring Recruitment Talent Migration Report" (hereinafter referred to as the "Report"). Pulse Vice President Ding Shengbin stated that the talent supply and demand ratio has been increasing for three consecutive years, and the job market has entered a saturation cycle

On May 30th, Maimai Gaopin released the "2023 Spring Recruitment Talent Migration Report" (hereinafter referred to as the "Report"). Pulse Vice President Ding Shengbin stated that the talent supply and demand ratio has been increasing for three consecutive years, and the job market has entered a saturation cycle. The three major characteristics of the talent saturation cycle are intensified competition for talent, inflation in academic qualifications, demotion in employment, and reduced voluntary turnover. During the 2023 spring recruitment period, there was a clear mentality of seeking stability among professionals, with less than 15% of them actively switching jobs, and about 45% of job seekers considering being demoted for employment.

The report shows that in the past three years of spring recruitment, the talent supply and demand ratio has continuously increased, and talent competition has intensified. In the 2021 spring recruitment, the talent supply to demand ratio was 0.45, which increased to 1.7 in 2022. However, in the 2023 spring recruitment, this number further climbed to 2.36, with an average of 5 people competing for 2 positions. The demand for spring recruitment positions in 2023 is shrinking, and the talent supply is saturated. Ding Shengbin believes that in the 2023 Spring Festival recruitment, there will be no gold, silver, or three, and the job market will enter a talent saturation cycle.

According to the report, in the 2023 Spring Festival recruitment, the proportion of positions requiring a bachelor's degree or above was 9.75%, an increase of 3.47%; The proportion of positions requiring a master's degree or above is 8.9%, with an increase of 3.09%; The proportion of positions requiring a doctoral degree or above is 0.86%, with an increase of 0.43%. The competition for specialized talents is the most intense, with a supply to demand ratio of 3.53. The supply-demand ratio for undergraduate talents is 2.34, the supply-demand ratio for master's talents is 1.32, and the supply-demand ratio for doctoral and above talents is 1.23. Undergraduate talents not only face a large number of undergraduate job seekers, but also face the pressure of demotion and employment for groups such as master's and doctoral degrees. This has led to a more severe inflation in the academic qualifications of undergraduate talents.

The report shows that during the 2023 spring recruitment period, 44.4% of workplace workers had no job changes, while the survey at the end of February 2022 showed that this number was 23.77%. In the 2023 spring recruitment, 20.69% of the workforce planned to switch jobs, compared to 49.71% in February last year. Only 14.74% of professionals in this year's spring recruitment actively switch jobs. About 45% of job seekers have considered working without considering their educational background, such as delivery delivery, ride hailing drivers, salespeople, and waiters. 20% of job seekers will choose "demoted employment" after being unemployed for up to 3 months.

According to the report, in the first quarter of 2023, the talent supply in Hangzhou increased by nearly 20% year-on-year. During the 2023 Spring Festival recruitment period, Hangzhou surpassed Beijing, Shanghai, Guangzhou, and Shenzhen as the most attractive city for talent, with the highest talent inflow and outflow ratio reaching 1.17.

In terms of Pulse, Pulse Gaopin has recently cooperated with Alipay to access the Alipay applet. At present, more than 50000 high paying positions have been launched, with job types including development engineers, product managers, UI designers, marketing, personnel, e-commerce operations, and other industries. The workplace covers first tier cities such as Beijing, Shanghai, Guangzhou, and Shenzhen, as well as multiple new first tier cities such as Chongqing, Wuhan, and Xi'an. Among them, the number of positions with an annual salary of over 700000 accounts for 58%.