Perspective Candidates: The Law of Supply and Demand Can Work in Your Favor - Please Plan in Advance
The current condition of the hiring-market is artificial (or at the very-least irregular). I may not be a trained economist, but through many years of experience - I do see the patterns of hiring market conditions. There is a huge disconnect in what I see daily - between the amount of open job requisitions vs. the number of candidates applying (the ones seriously seeking new employment – not just casually “fishing”) for jobs in my inbox.
Important factors to consider for the near future. Please note: this is just one humble, in-the-trenches-daily, recruiter’s opinion:
1. When a hiring market is flooded with “free” government stimulus (unemployment supplement) money for some (not all) candidates to stay at home and collect a paycheck – then the supply of workers becomes very low, like it is right now. This makes the demand and the prices of employees (in my case – IT professional) rise. Once the summer is over; and the folks who are thinking of going back to work – start applying for jobs - there will be many more people on the market (flooding HR and Recruiting Inboxes and Application Tracking Systems with resumes). *This will be especially true once the government stops giving away incentives for people to stay home (or better yet…work side hustle cash jobs and collect double).
2. Work From Home: The other factor that is helping to make the job market irregular - is that COVID protocols allowed everyone to work from home. This means companies from Austin, NYC etc. could recruit from markets like Buffalo – making the supply of workers low (due to outside market factors like big companies picking up on the low cost of Buffalo labor). Once companies require certain employees to go back to the office – the market will shift. It will not ever be the same, but it certainly will change (again).
3. Economic Uncertainty: Are you skittish about new variations of pandemic viruses (did someone say “DELTA”) which some believe are continuously propagated by media scare tactics! Twice this week alone, I had candidates turn down a job offer, because as they said: “Well…I am not entirely sure what is coming in the near future.” “At least my present job now has good health insurance, I think I am going to stay put for a little longer (unless of course you can really make it worth it – say a 20% increase in pay – to move.”
So, how are you positioning yourself for when the “jobs bubble” pops? Let’s talk about your strategy and get you back in the game on solid footing. Give us a call or schedule a free consultation online: www.stepforte.com or 716-253-6009.
To see some hot jobs – now open: www.jobsatnojaim.com