Employers across many industries are desperate to find workers. But they are running into a significant challenge in finding people willing to come work for them. Among organizations in this situation, they share one commonality:
Failure to adjust to the post-pandemic market conditions
Things have changed. It’s a candidate’s market and people are no longer willing to take low-ball offers. They know there are options out there.
Alison Green on Slate.com explains the current situation:
“From job seekers’ perspectives, companies do have plenty of vacancies, but they haven’t adjusted to the massive sea change the job market has undergone in the past two years. They’re offering laughably low salaries although candidates can command far more, or requiring years of experience for ‘entry-level’ jobs, and they’re still operating on a model of underpaying and overworking at a time when workers have much better options.”
Job descriptions are becoming increasingly more demanding despite the same pay, a pandemic, and a surge in the cost of living.
Like many companies, people are also recovering from the pandemic. They are recovering physically, financially, and emotionally. The same people are also facing skyrocketing real estate costs, and a surge in the cost of food, gas, and the cost of living in general.
Too many companies have failed to reflect this new reality in their job offers. They are expecting even more from experienced candidates but have also failed to adjust their compensation packages. They are being short-sighted with the salary, vacation time, flexible work arrangements, and benefits they are offering.
How to Hire Employees Effectively
To attract a good quality candidate today you need to:
- Offer an attractive salary
- Offer competitive compensation packages with incentives people are seeking
- Offer flexible work conditions
- Hire faster to secure the service of top candidates
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