Heaptalk, Jakarta — SEEK has integrated three labor market platforms in the Asia Pacific, including SEEK, Jobstreet, and Jobsdb, to merge job seekers and employers in the region in one AI-powered SEEK platform. The merger of these three job-search platforms commenced with SEEK’s investment of AU$180 million through the strategic acquisition of Jobstreet and Jobsdb about a decade ago.
Following this integration, SEEK can leverage a more extensive data set by empowering its AI algorithms to provide more precise and relevant matches between companies and job seekers. On the other hand, this merger will be more effective and appropriate for the job-hunting process by up to 25%. On the company side, the candidate selection process can be carried out more quickly by utilizing AI, where around 75% of Indonesian candidates prioritize a smooth and timely recruitment process.
“Through this one integrated platform, we offer our products to millions of people across Asia in a fresh way and simplify users to hunt and discover talent more easily. This step is part of our strategy to back 500 million people to develop their careers in about five million companies partner in the Asia Pacific,” CEO of SEEK Asia Peter Bithos said.
Indonesia’s Labor Market Outlook
According to the COO of Jobstreet Indonesia by SEEK, Varun Mehta, the archipelago encountered significant workforce growth in four sectors: the travel sector, manufacturing, hospitality, and companies that integrate technology with other companies (legacy sector).
He perceived that these four industry companies tend to possess workforce growth due to high investment value, specifically for companies converting conventional to digitalization operational schemes. Moreover, Indonesia frequently reflects on the West and Europe in adopting technology as most investment sources come over there.
“This trend has been visible since last year, where the newest sector continues to grow to become the fastest growing sector, especially during the pandemic. We observed this trend in Indonesia, particularly with the emergence of data protection and AI. The demand for workers such as engineers will be one of the most needed positions.” Varun affirmed.
Based on Jobstreet’s report, Varun elaborated that unemployment has also decreased, becoming 5.3% for every job vacancy. Also, submission of job applications increases with every open job vacancy, reaching 24%. This trend indicated the growth of recruitment activity and job-seeking competitiveness. Perceiving the high demand in the labor market, around 55% of companies plan to enrich their employees, and about 34% will preserve their employees in 2024.
“This matter indicates a growing demand for companies to connect effectively with talent in Indonesia and other Asia Pacific,” Varun concluded.
