Although it seems that the Great Resignation is losing a bit of its steam, it has a long-lasting effect on the job market. Since the beginning of the Great Resignation, employers no longer have the upper hand in the hiring process; the talent does.
One of the largest shifts we have seen in the hiring process is the candidate understanding their worth in the market. Before the market shift, talent was basing their worth on the offer letter they received from companies. Now that there has been a shift in the market, candidates are getting multiple offers and choosing the best.
Businesses struggle to secure talent due to a lack of understanding of market conditions. This shift has become a wake-up call when they realize candidates aren’t afraid to turn down an offer letter because they most likely are sitting on a better one.
Working in the staffing industry, we are seeing more candidates than ever turn down offer letters because of rigidity. The factors that deter employees the most from accepting an offer letter come down to these two: salary and remote work.
Companies need to shift their approach to hiring if they are looking to secure talent. We recommend always offering the highest possible salary because if a candidate feels undervalued based on their salary offer, there is a big chance they will walk away.
The market has become more competitive than ever, and one of the best ways to win over talent is to offer them what they are worth.
The second most common reason we see candidates not even show interest in a company comes down to remote work options. Although managers and executives are ready to return back to the office, most employees are not.
The pandemic has shown what the future of corporate America can offer, and that is giving time back to employees. Candidates want to bring back accessible free time, and a lot of that time means working from home. On average, Americans lose over 100 hours a year to commuting, and over a 40-year career, they lose over a year of their life.
If employers want to stay on top of the hiring market, they need to offer one of the two, better yet both, competitive salaries and the option to work remotely. We understand how the shift in the market can be hard to adjust to, and that is why we are here.
If your company needs help finding the right talent and staying educated on the current market conditions, get in touch with us!
Clutch is a creative staffing partner. We connect digital, creative, and marketing professionals with companies looking for freelance, temp-to-hire or direct hire resources.
