In this post-pandemic period, businesses continue to sort through workforce management issues. Labor shortages, job-hopping and inflation are all impacting employment. Evan Sohn, chairman and chief executive officer of Recruiter.com, said the current market also favors job seekers.
Here, Sohn discusses these and other workforce trends business leaders and recruiters should be mindful of for the second half of the year.
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WWD: How would you describe the current state of employment and some of the issues recruiters face?
Evan Sohn: One of Recruiter.com’s predictions for 2022 was that we would see a continuation of the candidate’s market that formed. Candidates continue to have more opportunities at their fingertips than ever before due to the rise of working from anywhere and hiring from anywhere.
A challenge we saw recruiters face over the past year or so was keeping up with the velocity at which candidates are interviewing since, in today’s market, prospective candidates can be simultaneously talking with multiple companies at once.
WWD: What other notable trends are you seeing in your index?
E.S.: Our index has tracked a large decline in fully remote jobs, decreasing 56 percent since January 2022. In the height of the pandemic, remote work was by far the number-one priority, but as of late, and perhaps it has increased with the looming threat of a recession, not only has compensation claimed the top priority for prospective employees, but it is also the number-one reason employees are leaving their current jobs.
Another trend we have been following is how many jobs candidates have had over the past two years as a result of the job hopper economy. As of June 2022, recruiters reported that 44 percent of candidates they have talked to have had two jobs within the past two years. We have also been seeing increases in the number of candidates who have had three and even four jobs, showing that the job hopper economy is here to stay.
WWD: How has the job search changed? And what are the generational differences in how people look at their career and job search?
E.S.: The process of interviewing has been revamped over the past few years. As opposed to interviewing being a full-time job, it can now all be done behind your computer screen at any given time. Company loyalty is also another aspect of the job market that we have seen morph recently.
Although it may change from generation to generation, we are not seeing employees stay at the same company for 15-plus years anymore. Employees are more inclined to look out for themselves and find the best opportunity that matches their priorities, even if that means switching jobs within the first six months.
WWD: What are some of the other challenges companies face in retaining employees — especially in this post-peak-pandemic period?
E.S.: Post-peak-pandemic companies had to decide what kind of company they wanted to be — whether it be remote, in-person or hybrid. The thing with that is that no matter what the decision is, it will not keep 100 percent of your workforce happy, so the company must adapt in a way that benefits the majority of its employees in an effort to retain talent.
With the influx of opportunities currently available to prospective employees, it is important that companies also make their employees feel valued. This could be done in a number of ways, including making sure they are receiving fair pay, increasing PTO, or even offering alternative and extensive mental health or gym benefits to show you care about your employee on a human level.
WWD: How does your platform work, and what is the value proposition for employers?
E.S.: Recruiter.com is here to help companies hire better and faster. We have multiple options for companies to benefit from, including our recruiters on-demand or our AI software. Turning to our services could save not only time but money as you cut back on outsourcing and hefty headhunter fees. Recruiter.com helps businesses solve today’s complex hiring challenges.