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In my 40 years of recruiting, I've never experienced less "candidate-flow". That's an- in the trenches- term for our ability to identify, engage and screen talent for clients hiring Software/SaaS Sales or Sales Management talent here in Colorado. At pinnaclesource.com we've specialized in this niche from the inception of the tech/IT industry.
Clearly, the overall economy is booming as we rebound from COVID-based closures. Tech companies are ready to pounce upon the demand and need Sales pros to spread their gospel!
Less apparent, but more impactful is the leverage software companies have on the growth of businesses in every sector. Companies like Zoom Video and Square have demonstrated the power of their "secret sauce" throughout the quarantine. We've carried on with astounding business functionality due to internet-based tech! So where does the big money go?
More SaaS startups have received more funding than any time in history from my perspective. And they're hiring too. Which creates a greater sense of urgency to compete for coveted personnel from established players.
Other factors include the malaise many workers are feeling now that they've made it through to the other side of the Pandemic without being "let go". I believe many are thankful for being retained and, therefore, loyal to their current employers. Add in the surge of entrepreneurialism spawned by the effects of being isolated and having the time and energy to create.
For us "headhunters", unearthing targeted Sales Reps and Managers is tougher than ever because the vast majority of the gainfully employed are more productive and earning more than they expected.
Today's trends are driving up the cost of labor in every domain. Highly skilled, "proven" performers in our candidate pool are receiving offers 30% to 50% above their current pay grade and/or are attracting multiple offers.
So what's a well-intentioned, well-financed CEO or CRO or VPSales to do? I'll be sharing my ideas here in the coming weeks and please know there are valuable personnel assets available. Just maybe not in the "packaging" you've been programmed to look for.
This time it's not just a tight labor market and/or pent-up demand. It's different now! And if we don't change our models and behaviors we will continue to wander and wonder.