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This year marks the change. And it's only just begun.
Herein you'll understand what forces are creating this tectonic shift and ready yourself and your company not only cope with it, but to survive it gracefully.
From an executive search perch at Pinnacle Source, the employment marketplace is clearly different than ever in my forty years of experience.
Wages are up. Supply of labor is way down. As of 11/15/2021 4 million more US jobs are vacant than people actively looking to fill them.
The result? Multiple job offers go out to the same shallow pool of jobseekers daily.
The answers may surprise you.
The employment bottleneck of 2021 is the ultimate knot in our intertwined world. It starts and will eventually end here. The sooner we accept what the labor pool is looking for, and allow these changes into our workplaces, the faster the knots loosen; and we heal.
Growth is just around the corner. But not for those looking to control it.
Job applicants are willing to hold out for more. But more of what? Hiring managers want to know!
That's right. Our most well-qualified prospective employees are keying on, and finding, relationships based on trust and respect.
We just had a candidate reject an excellent career opportunity and satisfactory compensation plan because how our client made him feel. They made it clear he'd have to earn his keep the moment he ‘walked in the door”. They conveyed a lack of trust. He said, NO Thanks… He didn't feel genuinely accepted by our client.
Representative of today's environment, another candidate of ours received 3 job offers. His decision was obvious when one of the employers offered to pay for his new prosthetic. They learned of this Military Veteran's personal needs by acknowledging who he was, beyond his resume. Kudos to company “A, and they're leadership. Not only did they “win” a highly coveted prospect, now they have an enduring bond with John Doe.
Pre-scripted questions are moldy old. Find the confidence to improvise. Flip the script by engaging informally. Show you care and want to establish connection. Interactive conversations yield discoveries.
Traditionally, my clients look for reasons not to hire applicants. That strategy will keep you parked in neutral.
“Seek first to understand before expecting to be understood" - Stephen Covey
Solid candidates have multiple alternatives. The time has come to drop your guard, be yourself and talk about what inspires you. Then listen. Unless you're truly aligned with your prospect, he/she will see through you and choose another offer.
It's time to evolve your hiring mindset. We're living in a heart-centered world, not Madonna's Material World.
Job seekers are looking for more than a payday. They're looking for community. We're all hoping to find colleagues and work/life experiences that fulfill us. We've been taxed enough. And it's amazing how much work gets done when we're surrounded by supportive peers and managers. That's the great awakening necessary to counterbalance “The Great Resignation”.
So approach interviews head-on and heart-on!
Whether you like it or not, the pendulum has swung. Your candidates have the upper hand.
There's one more wrinkle to consider. Over 20 years ago, two extraordinary sociologists (Paul Ray and Sherry Ruth Anderson) discovered the phenomenon of “cultural creatives”. They reasoned that a powerful portion of the population doesn't want to fit in to societies' institutional norms. These people tend to be leaders and fit the profile of “influencers” impacting all of us today. That's why the book title is “How 50 Million People Are Changing The World”.
This breakthrough way of looking at human potential was written before 911. Before the Great Recession. Before the Pandemic. Before George Floyd. Just imagine how the number of cultural creatives has grown!
They seek to be acknowledged for their unique strengths and flaws. They're looking to be allowed and encouraged to be the best versions of themselves by employers compassionate enough to get to know them.
Next year is tough to predict, even plan for. But you will benefit by giving up long held hiring standards and controls. If you believe in your company's mission and culture, have faith in it through your transparency. Self-confident employees will follow.
The key is to start focusing on attitude and aptitude, not just resumes.
Companies adapting this tact will be more attractive to more candidates. Set yourself apart and enjoy the shift.
“The question is not whether we are able to change but whether we are able to change fast enough“ - Angela Merkel Chancellor of Germany