COVID-19 changed the way we work, and if this time last year you told me that we would be in a market where candidates have the choice of many jobs, then I wouldn’t have believed you! 2020 was the year of trying to keep your job as not only were lay-offs happening but very few companies were hiring! Fast forward to the later part of 2021 and I am sure most recruiters will tell you that there are more jobs than they can find candidates for.
In this article I will explore the benefits and impacts of this current market and how you can navigate it as a job seeker or and employer, and how internal talent acquisition and external recruitment agencies can help.
Job seekers: What does this mean for you?
Essentially, you are a hot commodity, with candidates in most industries being able to expect multiples offers…especially if you are in tech sales! This gives you the option to not just accept the first role that comes your way but to pick the right job that meets all your needs such as: work life balance, money, career development, work from home options, stock options etc.
Be honest with the recruiter that you are working with about you reasons for interviewing. This can help the interview process as you both will know what you want to achieve and what you’re seeking in terms of remuneration. Also, should you receive an offer, a good recruitment consultant can work in your corner to ensure that you get the offer most suited to your requirements.
Hiring companies: What this means for you
You are in competition with every organization in your product/software space. Time can be your greatest enemy.
Don’t sit on resumes or wait for more before making selections for interview. Read the resumes as they come into your inbox, and make time to speak with anyone you have any interest in.
If you are interested after the interview, arrange the next stages as quickly as possible. Ideally booking out the whole interview process on all the decision makers calendars ahead of time.
Look at your interview process and be honest with yourself – are all the steps really necessary? If you can reduce one or two steps then do it. You are in a race to get the candidate to your finish line in the quickest possible time.
Be creative with your total package. There are many motivations for a candidate looking for a job, it is not always about money. In fact, since the pandemic many candidates are looking for other benefits that you can’t put a monetary value on such as working from home (full time or flexible working), work life balance and mental health days, a culture that fits their personal beliefs, and inspiring leadership.
However, sometimes it does come down to money, and that is okay too. Be savvy and know what your competition is offering. If they are offering a higher base, then can you offer a sign on bonus or higher commission? Can you offer long term benefits like stocks or RSU’s?
Once you have decided you want to make an offer, don’t wait or hesitate. Get it in front of the candidate ASAP!
How can the recruiters help?
A good recruiter can act as a consultant for you. Not just in this job market but anytime you are looking to move job. It is our responsibility to understand what you want from your next job and help match you with appropriate opportunities that match your skill set, experience and that align with the culture of company you are looking for, as well as all benefits and salary requirements etc.
We can advise you on what you can/should be paid, what trends we are seeing in the market and be there with you every step of the way including helping you with interview preparation and negotiating offers.
Use our market knowledge, let us tell you what your competition are offering. We can provide analysis for you about salaries in specific markets and the availability of passive/active candidates.
Let us keep the candidates warm for you in between interviews by reaffirming all the reasons why your job best fits their wants, needs and career aspirations.
Expert recruiters in their field, can provide deep technical and soft skill screenings of each candidate that we submit. Helping you know if a candidate is truly worth speaking to and hopefully even eliminating or reducing the time of initial screenings, therefore helping you get a jump on the interview process.