This month we thought we’d share a few thoughts about what we’re seeing in the HR recruitment market, for both HR job seekers and employers. We cover changes in salary expectations, the power shift away from candidates to employers, and offer our thoughts on the ongoing CV instability we’re noticing.
More realistic salary expectations
For a couple of years, we’ve all seen salary expectations go through the roof, particularly at the junior end of the HR market. We’ve spoken to candidates with one year of HR experience seeking salaries in a range that we’d usually associate with professionals who have three to four years of experience. The good news is, we’ve seen this cool off. Maybe it’s because there isn’t the flurry of opportunities that we saw last year? Maybe it’s due to candidates paying attention to the doom and gloom being reported about our economy? Whatever the reason, we’re finding it’s making for much more realistic conversations – and a return to a focus on growth opportunities and development.
The power is shifting from job hunter to hiring manager
Candidates have had all the power over the last couple of years, and now we are seeing things rebalance.
Job hunting? It’s time to make sure you’re making the best impression possible through your written and verbal comms. Get your CV tidied up, get rid of the typos, make sure you have a modern layout, and make sure you’re referring to the right employer and role in your cover letter! You might have gotten away with being a bit loose on detail these last two years but now’s the time to sharpen up. And also, make use of our job seeker’s template to ensure you’re clear on what you want next – so that you make the best impression when you get the call.
Hiring? We think it’s even more important now to make sure you’re delivering a fantastic candidate experience, even though you may be finding there are more candidate applications coming your way. We suggest you think like a candidate – look at the job ad and position description from the candidate’s perspective and think about the impression you’re making with each interaction. The increased candidate flow may create more work, however giving each and every one of those people a positive experience is important for building your employer brand.
Less stability in CVs
We saw a flurry in 2020 of candidates accepting less-than-ideal jobs because they were worried about the job market. We found that the subsequent “job hopping” that happened was, for the most part, accepted in the market. Generally, future employers understood that people took roles which might not have been perfect during that time of uncertainty in order to stay employed. And, therefore, when the crazy job market rebound happened in 2021, moving on after a short tenure was also accepted. However, we’ve noticed that the trend towards shorter tenure seems to have continued, even after the HR job market has somewhat cooled off.
What might be causing this?
What we’re hearing through the market is that the overselling of roles is still not uncommon. To compete for talent over the last couple of years, we have heard that candidates were being told what they wanted to hear by employers who were keen to get them onboard. Unfortunately, being sold one thing and then discovering that there was plenty that wasn’t shared can be almost impossible for a candidate to bounce back from. And they may reactivate their job search only a few weeks or months into their new role.
What can we do about it?
We always think being honest, sharing the “warts and all” view up front, is the best approach. Then, the successful candidate will choose to take on the challenge and is mentally prepared to overcome the difficulties or complexities; they’re energised to tackle the problems.
