Due to the innumerable layoffs that resulted when the economy tanked in 2008-2009, there was an influx of highly-talented unemployed people seeking work; subsequently, many large companies became accustomed to having their "pick of the litter" if they were among the lucky entities that actually had money to spend and positions to fill. Additionally, many companies used the poor economic conditions and tight budgets as rationale to underpay highly-qualified candidates. So, unfortunately, managers feel they can still hire these candidates at the "discounted" rate.
Let me emphatically say: THOSE DAYS ARE GONE.
As you may have noticed, these factors are spurring a mass exodus of candidates who have been undercompensated in recent years and are now taking jobs that are better aligned with their skills and experience½and salary expectations. With that in mind, I have tried to council hiring managers regarding the changes in the market, but unfortunately, there is a complacent mindset resulting from the previous flood of solid candidates available, which is continuing to drive a misperception of the imbalance between supply and demand of talented workers. In an effort to highlight the disparity between open positions and qualified candidates, I penned an article last year about hiring within a highly candidate-driven market to provide insight therein. As I speak with our clients, I consistently try to reiterate to hiring managers that Houston is absolutely booming, which makes it necessary to understand the nuances of how the hiring landscape has drastically changed.
Some of the biggest changes in the past 12-months have involved candidates receiving multiple offers and counter offers, which have been a nearly non-existent factor since before the market crash. If you are a hiring manager, the main piece of advice I can give is to BE PREPARED by keeping these factors in mind:
That said, I want to take a moment to speak to potential job seekers. CANDIDATES, ARE YOU LISTENING?
Please hear me loud and clear! It is imperative that you do not get smug and seemingly "too big for your britches." While you might be a company's top pick, rest assured that you are not the ONLY candidate they interviewed. Be sure to do your research to ensure that any offers you receive will provide fair market compensation for your skills, but do not miss out on a great opportunity simply for the sake of playing hardball.
Now, let's get to work.
Clearpoint is a staffing agency for jobs in information technology, marketing, creative, and other professionals. We do business by building long-term, mutually beneficial relationships with our employees and clients.