We’re nearing full employment according to the Labor Department’s April jobs report. At 4.4%, unemployment is the lowest it’s been in a decade. That’s great news for job seekers who are in the catbird seat, as the number of job openings exceeds the number of those out of work. And, employers should be aware that according to our own 2017 Job Market Report, there’s been a double-digit uptick from last year in the number of workers planning a job change. Three-fourths of those surveyed said that they plan to make a job move within the next 12 months. At the time of our survey, 21% already had a job offer in hand.
This news of worker flight provides an opportunity for companies too: scooping up in-demand talent with wandering eyes. This growing talent wanderlust is well timed for the seventy-seven percent of hiring managers responding to our survey who said that they are actively hiring to fill both new and existing positions.
So what’s driving talent to the exits and does your company offer what they seek? Number one is the perennial trigger, a better salary. But familiar lures also make the list like advancement, growth and development opportunities. Rounding out the top five reasons to flee is better company culture.
With a job market that favors the seeker, it’s never been a more critical time for companies to partner with a staffing and recruiting firm. They are an invaluable resource to help identify not only active job seekers but the coveted and often elusive passive ones often working for your competitors. Plus recruiters bring the most up-to-date market intelligence to help you scope out a job description, structure a tempting offer, or spiff up your employment brand. And that’s just the start of how they can help.
We’ve put together a paper that spells out how working with a proven recruiter will make your life so much easier in five ways:
1. Established network, extended reach
2. Singular focus, no distractions
3. Sifting, screening, substantiating
4. Real world, real time job market guidance
5. Mitigate the risk of hiring
To get more details on each of these five benefits of working with a search professional, click here to download How Recruiters Make Your Life Easier in Five Ways.