With the unemployment rate nearing the lowest it has been in over 18 years, seeking out great talent is difficult.
More Jobs Than Workers
In the latest reports, the amount of positions open to be filled has well surpassed the number of people the Bureau of Labor Statistics says are unemployed. This obviously causes a huge problem for businesses for multiple reasons: One being other employees are having to pick up the slack, without receiving any benefit from it. This, in turn, can generate more open positions because employees know they have options. And if the price and position are right, they will move.
So now, companies are having to make a choice: Either raise wages or risk losing internal and external candidates to other opportunities.
It’s a Buyer’s Market
With candidates knowing they have options, it leaves companies vulnerable to losing their good talent if they feel unappreciated. But it also causes a problem for companies that are searching to fill positions. Candidates are not just looking at one offer nowadays; they are looking at multiple.
Which leaves your company vulnerable to being ‘ghosted’ by great candidates who found an even better offer. Traditional methods simply aren’t helping you lock down the candidates you want.
This Market is Costing Employers
An annual report in June 2018 illustrated that workers received their largest wage increase (of 2.8%) in nearly a decade. This means employers are having to offer higher wages to attract and keep qualified candidates. With this hike in salaries, it’s putting more pressure on good companies to fill their currently vacant roles.
And it’s making them either increase their salaries or find another way to recruit good candidates. The environment is causing a lot of stress for companies but thankfully, there is a great option for them.
Partner With an Expert
As you’ve read, job boards and the traditional recruiting methods for finding great candidates aren’t working anymore. But that’s what JSG is here to do. We work solely for our clients to find them the best candidates for their positions, so they don’t have to. We know that our clients are just as busy as we are, and they deserve to have experts pushing their companies forward while still filling their critical roles.
With JSG’s expertise in our current job climate, we can help your company with those critical positions that desperately need to be filled. By partnering with an expert, we take stress off you, but we also take stress off your current employees who are having to do extra work just to keep things moving.