In general, there are two types of job markets, a candidate-driven jobs market and an employer-driven jobs market. As it stands today, the United States is in a candidate-driven jobs market, but what is that and what does it mean?
What is a Candidate-Driven Jobs Market?
A candidate-driven jobs market happens when candidates have the upper hand. What this means is that jobs are abundant and employees (candidates) call the shots.
What Does a Candidate-Driven Jobs Market Mean for Employers?
- It’s time to rethink compensation. Where can improvements be made? Is company-wide compensation equal or better than the competition?
- Candidates are prepared to negotiate pay, perks, and benefits. Companies should be willing to negotiate and also willing to concede, if necessary.
- Reconsider the years of experience required. This invites those with fewer years of experience to apply and, oftentimes, it’s those applicants who are most eager to do the job.
- Make sure that there is room for advancement. Having an upskilling path and a plan for the advancement of every employee is critical to retaining employees.
- Think again about the critical skills needed in a role. Are there any “must-haves” that aren’t really “must-haves?” Make those skills a “nice-to-have,” and watch the applications roll in.
- Not everyone is actively looking for a new job. Targeting passive candidates who aren’t seeking new jobs may be interested in what else is available.
Recruiting Top Talent is Hard
In this market, it can be hard to recruit (and retain) top talent. That’s where FlexTrades comes in. With our technical knowledge and team of skilled technicians located nationwide, we can help you and your company find the people you need to continue thriving. Contact FlexTrades today to learn how we can help your company bridge the gap between where you are now and where you want to be as a manufacturer.