Not so fast! It’s not time to declare the candidate market over
Recently Fast Company magazine asked the question, “Is the candidate’s market over? My answer, “No.” Here are my 3 reasons why not:
Some sectors of the economy – healthcare, construction, trades, IT for a few are experiencing continued skills gaps, even as industries like tech are experiencing slowdowns in hiring or layoffs. These sectors are predicted to continue have skilled worker needs for the next 5-10 years as many have aging workforces.
Candidates and employees are still searching for their ideal “new normal” in this post-pandemic world. They are looking for ways to build their work around their life – in opposition to the pre-pandemic world where your life was built around your work. This includes where they work, flexibility around when they work, and increased autonomy on how work gets done.
Companies haven’t caught up with the hiring and there are more open jobs than workers willing to fill them in many areas. I know my neighborhood is still full of “now hiring” signs and signals of short staffing as seen during many of our daily errand stops.
While it may be easy to declare the candidate’s market over, I don’t think companies should breathe a sigh of relief and think that they can return to “normal.” The companies that survive and thrive will stay focused on redesigning work to fit employees’ schedules and clear communications throughout the process.