Source | LinkedIn : By Scott A. Scanlon
It’s become clear over the last several years that the job market has been not only recovering, but transitioning. Consequently, the latest changes wrought have given way to an entirely new type of candidate profile, report recruiters from the field.
Interestingly, working professionals themselves are leading the way — and they’ve become all too aware that the current candidate-driven job market puts them in a ‘power position’ where they can be more selective when making career decisions. They now have a wealth of resources at their disposal to determine whether their current employer is offering them benefits or opportunities that are competitive with current market trends. For them, that knowledge is translating into control.
The Execu | Search Group’s just released ‘Hiring Outlook: Strategies for Engaging With Today’s Talent and Improving the Candidate Experience’ report provides insights into the considerations professionals make when deciding whether to apply for a job, join a company, or leave their current position.
The report also offers actionable recommendations for employers to help them attract and retain the best talent in today’s candidate-driven job market, one in which job seekers have the advantage. The findings were taken from a survey of more than 1,000 job seekers, working professionals, and hiring decision makers across a number of industries.
Engaging With Talent
“As the job market continues to evolve over the next year, engaging with talent will become even more critical to an organization’s success,” said Edward Fleischman, chairman and chief executive officer of the executive search firm that sanctioned the report. “With this in mind, employers need to embrace transparency during the hiring process and in the workplace.”
They must also be aware that the candidate profile is changing, he added, especially with regards to Millennial employees as they progress from entry level roles to management positions. “To adapt to these changes, we hope employers leverage our 2017 Hiring Outlook as a resource for creating a unified culture that motivates all employees, focuses on career development, and facilitates a new model of leadership,” he said.
The Execu|Search survey found that 50 percent of employees plan to stay at their current company for only two years or less. Keeping this in mind, the Hiring Outlook report provides specific ways in which employers can improve the experience job candidates have during the hiring process, increase engagement and retention among current employees, and develop a more transparent culture and leadership structure that align with the needs of today’s workforce.
Findings of the 2017 Hiring Outlook surveys include:
Employers are struggling to retain and hire top talent
The top four reasons employees are leaving companies are lack of advancement opportunities, lack of salary growth, negative work-life balance, and poor corporate culture. Another 61 percent of respondents reported they were interviewing for two or more roles during the interview process for their current position. Fifty percent of employees say that they are planning to stay at their current company for two years or less.