The following post is courtesy of the Recruiting Blogswap:
So what does this mean to you the candidate or the hiring manager?
As a candidate, it means there are more job openings, you can expect multiple job offers and recruiters will be calling you more. So as a candidate, you need to make sure you are networking, your resume is ready and you start polishing your interview skills.
Also you need to expect more competition for jobs, because not only will all the unemployed be looking, the one who stopped looking will return and those who are working but don’t like their jobs or want something new will start looking because there will be more job opportunities that will get them excited.
As a hiring manager, this means candidates will have more choices, so if you are not selling your opportunity they will move on to the one that sounds better. In addition, as the number of jobs increase there will be less fully talented/qualified people for each job.
You can no longer use a job description with 15 requirements and wait until you find someone with all 15. If you do, then you may never find them. Also, because a candidate has more choices, candidates may not wait on you and your extended interview process.
Everyone we are placing today is in situations where they are interviewing with multiple companies and are receiving multiple job offers. Thus you can expect to start to see candidates leave your interview process and take another offer or may reject your offer because the other one is much better.
The other situation you will be facing is because employee dissatisfaction is high (employee surveys have shown over 66% of all current employees will consider leaving their current employer), you will start to see employee turnover increase and you may be forced to start using counter offers to keep people. But we all know that counter offers do not work, studies show that most people who accept a counter offer are gone from the company within 6 months.
So what is the hiring manager to do?
1) take care of your employees, 2) get them engaged, 3) take a look at your talent needs and get started now on filling them and finally 4) make your interview/selection process as streamlined as possible.
Author: John Butler, Vice President with The SearchLogix Group, has over 20 years of experience in recruiting, human resources, and operations management. John’s vast knowledge of supply chain, logistics, human resources, and technology allows him to relate to his clients needs and help them with the right candidate match.
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