Provided by Lovey Hammell, President, Employment Enterprises
Summer is hot in 2021, but the job market might be even hotter. In April, the job market hit the record-breaking high of 9.3 million open jobs, and hiring momentum has not relented for the vacation season.
As employers vie for strong candidates, job market leverage has shifted dramatically. Employment bargaining power has migrated to job seekers who are willing to wait for the right job and to employees who are demonstrating willingness to leave current positions and confidence that they can find something better. The proof? A record-setting four million people quit their jobs this April.
So, what are employers doing to recruit and retain today’s empowered and option-rich talent? In this issue of HR Insights, the article “4 Keys to Post-Pandemic Workplace Culture” touches on the importance candidates place on an organization’s culture. Employers nationwide are re-evaluating their cultures to ensure healthy recruitment (and retention) practices.
At Employment Enterprises, some of the most effective changes we are seeing are classic options that almost always get results, such as money and flexibility. On the financial front, the Wall Street Journal reported that in June, 20% of all jobs on Ziprecruiter included a hiring bonus. Add to that the June 2021 Bureau of Labor Statistics report that shows average hourly earnings increased by 3.6% over last year, and that demonstrates a major financial push to hire top talent.
On a related note, Employment Enterprises has seen direct hire offers rise by 55% since the start of 2021. Rather than risk losing a strong candidate to a competitor right away or at the end of the contract, employers are choosing to make the full offer, skip the trial, and risk a poor match rather than an empty seat.
With Employment Enterprises as your partner, the risk of a poor match is much lower. Their thorough screening and vetting processes improve the odds of a favorable match and boost your confidence in offering a permanent position. Contact Employment Enterprises for help in filling those positions.