It’s October 31—Halloween! This is a great time to talk about what scares people. Specifically, it’s a great time to talk about what scares both candidates and employers in today’s market.
Actually, to be more accurate, it’s a great time to talk about what should scare candidates and employers. (Just because they should be scared doesn’t mean that they actually are scared.)
As we’ve discussed before on multiple occasions, today’s market is a candidates’ market. That means quality candidates and top talent is in short supply and that candidates’ are “in the driver’s seat” when it comes to hiring.
The economy is good. Companies and organizations within all industries want to hire. Job openings and employment opportunities are plentiful.
So what’s so scary?
What should scare candidates:
#1—Not taking advantage of this current market
There are plenty of options and opportunities in the marketplace. If you’re not completely satisfied in your current position, then you should consider the opportunities that are available. If you stay where you are simply because you don’t like change and would rather cling to the status quo, then you could end up regretting that decision.
#2—“Burning bridges” while trying to take advantage of the market
We’ve also addressed this before. Trying to abuse the leverage and power that candidates possess in this market can lead to “bridge burning.” Down the road, you might want to come back over that metaphorical bridge . . . and it will be gone.
#3—A downturn in the economy
It is a statistical and historical impossibility that the economy is going to be as good as it has been forever. It’s just not going to happen, no matter how many people want to believe it (including you). As such, get as prepared as possible beforehand.
What should scare employers:
#1—The talent shortage becoming even worse
The longer that a candidates’ market continues, the more likely it is that the talent shortage will become more severe. That’s not good news because the shortage is bad enough. What would happen if there was an intensification of the shortage? You may shudder just thinking about that.
#2—Retention issues becoming worse
Professionals are switching jobs more often and more frequently than they ever have, thanks to a boost from the Millennial Generation. Millennials change jobs as frequently as every 18 months to two years. Five years is considered a long time these days. It’s difficult to imagine employees changing jobs even more frequently, but it could happen.
#3—A downturn in the economy
This is the one that should scare candidates and employers alike. That’s because most people remember what happened during and after the Great Recession. People were laid off. Job openings became scarce. Even if the next recession is not like the Great Recession, it’s still a recession. A good economy is always better than a recessionary one.
The Doepker Group has experience placing candidates in the Information Technology and Engineering industries, and we can place you, as well.