How the Current Job Market Affects You
Over the last five or six years the unemployment rate has dropped to almost half of what it was. Everywhere I go I see big “Now Hiring!” signs. What does this mean for you? Well, companies that have good, quality, workers will be doing more to make sure that they want to stick around. Companies that don’t have to go up against everyone else in hopes that their offer is the most appealing. Which can end up costing quite a lot in advertising and on-boarding.
Active candidates, those who are either unemployed, or just actively searching and applying for jobs, will be hired generally within a week or two. That all depends on the field they’re in of course. Most of the active candidates I speak to have several opportunities lined up. If I don’t have something that interests them on the spot, they generally move on to a new position within the week. So make sure you've got a great position!
There is a slight upside when you’re dealing with passive candidates. Due to the job market being the way it is, they’re often fairly confident in their ability to find another job. As a recruiter reaching out to them, this only serves to back those thoughts up. If you have a job that offers them more upward mobility, a higher salary, better benefits, they might just take it! Like I mentioned in a previous post, recruiting and just hiring in general is similar to selling something. Depending on who wants what more. The candidate wanting the position will go a little bit further to show the company they mean business. While the company seeking the best candidate might loosen up some of their terms.
In light of how the market is today and what twists and turns we may face in the future, passive candidates seem to be all the more lucrative. Often times it is only recruiters that actively seek them out, making them a largely untapped resource. While most companies are left to fight over the few remaining active candidates.
If you’d like to learn more about this and how a great team of recruiters can help solve your staffing needs check out our website or send me a message today!