Today’s Candidate-Driven Market

candidate-driven market

Nowadays, the landscape of finding and bringing top talent to your company and team, as well as keeping that talent, has changed.

Today’s market has moved into a very tight candidate-driven market that has not been seen in decades. And it has every indication of continuing that trend for years to come. Just in June alone, over 600,000 workers re-entered the workforce. For the first time in decades, there are more job openings than there are available candidates to fill them.

Therefore, there has been a significant increase in candidates who are passively looking for that next significant role in their career path. This is because they know they can get an increase in wages, incentives, location, and work-life balance due to the current market.

And because of that, the companies who’ve not taken steps to bring and/or retain the talent they desperately need are becoming increasingly frustrated.

Why companies are frustrated in this tight job market

The time to fill those open roles continues to climb. On average, it takes 36 days to fill an open position, from the day the position opens to accepted offer. This is causing employers great amounts of stress and forcing them to be more aggressive when pursuing candidates.

The cost to leave a role vacant is increasing, especially those critical roles. Those that are left to cover the open roles are beginning to suffer from burn out; employees are being asked to do more with less and work longer hours. As a result, great employees are leaving to pursue other opportunities that offer better pay and work-life balance.

Companies are dealing with roles being open longer, some over a year. Hiring managers start seeing more resumes that don’t meet their qualifications for certain jobs. They often stop receiving resumes through the company portals at all. And because of these issues, the human resource departments are overwhelmed with the task of filling open roles as well as perform their day-to-day duties.

Get the help you need

Companies are starting to reach out to outside firms to assist in their candidate searches. We help them find and place highly skilled and qualified candidates. This way they can stop worrying about their open positions and start focusing on their own jobs.

We have seen an increase in candidates that are passively looking for a career change and want our help. We connect with skilled and great candidates every day and those relationships are something we pride ourselves with. If your company is having a tough time acquiring (and retaining) top talent, let’s have a conversation and see what we can do for you.

We can help with both. Let’s work together.