The Great Resignation + Pandemic + Inflation = Job Market Chaos
It’s a Perfect Storm. Top employees are resigning in record numbers, the pre-pandemic workforce has been completely transformed, and rising prices are disrupting household budgets across the country. These powerful forces are combining to create one of the most turbulent job markets that we’ve seen in generations. Employers are struggling to fill critical positions and finding top talent has been more challenging than ever.
So, what’s an employer to do to compensate for a potential loss of employees who are instrumental in the operation of their companies? Is it time to give up and call it quits?
Not so fast. Let’s take a deep breath and relax. As a Forbes Top-20 rated executive recruiting firm with six decades of experience and a national presence, we have seen turbulent markets before. And we have helped countless companies solve their staffing challenges and build strong and resilient workforces.
The trends point to disruption in the labor market, but that doesn’t mean your company will be left with vacancies for key roles. Here’s why:
Recruiters to the Rescue
Recently, FPC National partnered with a marketing company to identify the sentiments of thousands of job seekers regarding the current employment landscape. And while the data does indicate that people are planning to leave their jobs in great numbers, there are hopeful signs as well.
When we presented this statement:
“I am currently employed and actively seeking a new position” …
More than half of all respondents agreed with the comment, including 30% who “strongly agree.”
Yes, chances are that a large portion of your workforce is looking for employment elsewhere, but that doesn’t mean you will be left with no one to fill these roles. It just means that there is more movement and fluidity in the job market than there has been in recent years.
The good news is that these vacancies do not need to be long-term. Keep in mind: Employees who are leaving their jobs still need to work somewhere. The question is, how do you find qualified applicants to maintain and boost your workforce?
We presented this statement to job seekers and asked if they agreed or disagreed:
“I plan to work with a recruiter to find my next job”
From their responses, it is clear that working with a recruiter will be the primary method of finding their next opportunity for most job seekers. In fact, less than 10% of respondents disagreed with the above statement.
Working with the Right Recruiter Matters
From the survey responses, we learned that job seekers do not consider all recruiters to be equal. We asked respondents their view on this statement:
“It’s important to work with a recruiting firm that has a national presence, so they have access to more opportunities.”
A whopping 72% of respondents agreed with this statement, including 33% who strongly agreed. Additionally, we posed this statement:
“It’s important to work with a recruiting firm with a strong knowledge of my local market.”
Unsurprisingly, 81% of respondents agreed, including 39% who strongly agreed. Finally, we asked job seekers for their feelings on this statement:
“It’s important to work with a recruiting firm that has a specialization in my field.”
It makes perfect sense that a vast majority (82%) of respondents feel that it’s important to work with a recruiter who specializes in their field.
Finding the Perfect Fit
Judging from responses to our survey, recruiters will play an essential role in helping job seekers land their next opportunity. But not just any recruiter. Job seekers want to work with an agency that has a national presence, knowledge of their local market, and experience within their field.
With a nationwide presence, FPC National has the reach and network to help job seekers find the right opportunity for their next career move. Our 60+ local offices are staffed with recruiters who possess an in-depth understanding of their local markets. In addition, our recruiters have specializations in more than 40 fields. This is why more job seekers are gravitating to our national network of professional recruiters.
With access to thousands of qualified, top performers with proven track records, FPC National is uniquely positioned to help companies find the right candidates and strengthen their workforces. We are the perfect partner to support employers during this unpredictable and turbulent job market. Reach out to your local office to learn how we can help solve your staffing challenges.