The Importance of Stability in the Current Recruiting Market
‘Stable’ is certainly not a word one would use to describe the past few years, especially when it comes to the job market.
Uncertainty around COVID, supply chain issues, international relations, inflation and more has caused a shake-up in nearly every industry and no one is feeling the shift more strongly than job seekers.
Priorities are always rearranging among the workforce, and right now, all eyes are on the stability of potential job opportunities.
In [the] Gallup poll, a little over half (53%) of the workers said they were looking for jobs that have a greater degree of security than they currently have,” reported Nasdaq.
Last one in, first one fired?
Candidates are looking for job stability and seeking out companies that are more financially sound; in turn, these topics have become the focus of conversations during interviews and offer negotiations.
Companies that want to attract and retain top candidates should be able to showcase their stability with positive messaging that limits the ‘fear factor’ a candidate may have when starting down the path with a new employer.
Job seekers understand the risk that comes with being the new kid on the block and in times like these, extra consideration of their new position in your organization is worth more than a passing thought.
“If you take a job at a company in a declining industry, or know the business itself has been losing sales or market share, you might end up being one of the first people fired if you’re a new hire. Even if you’re not fired, an unstable business might cut back your hours, reduce your pay or eliminate certain benefits,” Chron.
Is there such a thing, as a sure thing?
So, what does stability look like for today’s job seeker? It means they are looking for a sure thing – at least, as sure of a thing as any of us can expect in 2022.
- Does the role they are interviewing for offer long-term security?
- Are there planned layoffs in the future or any other signals that things may take a turn unexpectedly?
We learned quickly in 2020 that things can change in an instant, and it is reasonable to say that no one can promise anything to remain the same years down the road… but, in the ‘here and now’, job seekers need to know that they are walking into a stable environment with a leadership team that has strategies in place to handle the uncertainty that surrounds us.
Job seekers in the Class of 2023 echoed this sentiment, expressing that they are “…highly concerned about layoffs especially going somewhere as a new hire and the uncertainty with companies right now,” Handshake Network Trends
In the same report, job stability came up in the conversation as a concern above other factors that one might typically expect in a so-called ‘normal’ year. “Driven by inflation and concerns around layoffs, the majority of students (Class of 2023) in this cohort prioritize stability and salary from employers over other factors, such as benefits or friends at the company.
Tips to reassure top talent
When working with clients, our team of expert recruiters understands that it is vital to keep the lines of communication open regarding expectations surrounding stability.
Highlighting your organization’s performance over the past years, identifying areas of potential growth within the department, and sharing future plans are all part of our strategy.
We make these kinds of reassurances a crucial part of our dialogue with candidates because we know it can be the difference in getting your top choice to fill a key role.
“…candidates will not know about the stability within your organization unless you highlight it. Make it part of your company culture. Talk about it on your website and social media. Mention it in your job ads and use it as a selling point to attract more people,” SalesForce
In turn, we encourage our clients to take every opportunity during the hiring process to share their confidence in and dedication to the organization.
Keeping an eye on the future potential of – and within – your company shows candidates that everyone is on the same page when it comes to growing your business. “Talk about the people who have been in the company for a long time. Better yet, show potential candidates the future roles and how they can grow within the company. Speak about future plans and not just the currently available role. Doing this will make your company much more appealing,” SalesForce.
Ready to see what’s out there? We’re placing top talent in secure roles every day. Connect with us.