Hiring Trends 2015 – Tips for Hotter Markets

Posted by Charley Hughes on Jul 8, 2015 1:30 PM


Pendulums make for pretty good employment cycle analogies because they both have a recognizable arc, apex, and return path. Regardless the size, pendulums typically aren’t dangerous unless you turn your back on them. That’s when you don’t see “it” coming until…..Wwhhhaaack!

Getting caught flat-footed because your top candidate accepts a role elsewhere (or worse, a better offer from one of your competitors) can be sobering, leaving you with quite a headache.

Pendulum During my recruiting career I’ve had the opportunity to watch this pendulum effect as employment markets heat up and cool off, only to invariably grow hot again. The hiring managers who best leverage the pendulum’s momentum seem to follow a few simple patterns that work to prevent them from getting blind-sided. In a recent blog article titled The Other Side of Sourcing Integration Professionals we discussed the growth expected for permanent employees as well as consultants. 

Here are a few suggestions to consider now that the current technical labor pendulum has swung back towards a tight talent market:

Know Your Market.

Divide general unemployment trends and percentages you hear in news reports by about half. Numbers given on the evening news are typically for the general population at large. Yet skilled technical professionals often experience unemployment at around half the rate of the general workforce.  Seek out sources of market information more in touch with the technical hiring environment in which you exist. 

Examine the state of your industry - whether it is growing or declining - independent of the state of the overall economy. Stay abreast of trends within other closely related industries for early indicators of what may be headed your way.

Keep regular tabs on how tight both the variable labor and full-time candidate pools really are, keeping these two labor pools separate in your mind.  During weaker economic times you’ll find career consultants in full-time jobs and full-time minded professionals willing to do consulting work. When the technical economy is hot again don’t be caught off guard by employees with lengthy consulting backgrounds who make their exit to get back into project based work. During interviews, (and at annual reviews if appropriate), be prepared to have open candid conversations about this topic in order to create a proactive retention strategy.

Offers Versus Hires

Managers are often surprised how tough it can be in a competitive market to land a consultant or employee.  Sometimes on the 2nd or 3rd round. The most common causes for this are offer complacency and a lack of labor market intelligence. Unfortunately the end result often means filling a seat with a runner up instead of your top pick.

Your goal as a hiring manager is to have your offers accepted by your top candidates. 

Here are 3 quick tips in a hot market to keep in mind.

  • Avoid complacent thinking which leads you to assume the candidate will still be there when you’re ready to make the offer.  Utilize your network thru social media with peers at other companies to gain a sense of who is hiring, and more importantly at what volume and pace. This provides you a valuable snapshot of the hiring market beyond merely what is happening within your own company.
  • If you are concerned about a candidate’s interest based on competing opportunities, be sure to ask about their commitment levels and deadlines.   It’s only reasonable that both you and the candidate be able to gain clarity instead of making assumptions about where the other stands.
  • If anything will delay your decision, then keep your top 2 candidates informed of the hiring status regularly, and ask that they extend you the same courtesy on a schedule that is realistic for both of you.  Regular open communication will avoid anyone feeling “strung along” by the other party.

Too busy to hire, or finding it difficult to locate qualified candidates to fulfill the staffing needs within your EDI department?   Give REMEDI a call.