Navigating the candidate’s market is new territory for a lot of hiring managers. If companies aren’t at least matching their offers, they risk missing out on top talent -- an area that is crucial to the future growth and success of their company.
CHICAGO (PRWEB) December 04, 2018
Nearly three-quarters of candidates are satisfied at work, but 60 percent of total respondents are still looking for a new job to gain higher compensation, according to a study released today by Addison Group, a professional services firm specializing in consulting, staffing, and executive search.
For its report on How Hiring Managers Can Navigate a Candidate’s Market, Addison Group surveyed over 1,000 job seekers and found that 65 percent are confident in taking full advantage of the candidate’s market. In the past year alone, 54 percent of people have negotiated a higher salary with their current employer, proving they are not afraid to capitalize on the job market being in their favor.
Furthermore, the report revealed the top three benefits of the current candidate's market and the importance they hold to job seekers. Competitive salaries was the greatest benefit job seekers reported (34 percent), followed by the location of opportunities (24 percent) and then increased number of job offers (17 percent).
“Unemployment is at an all-time low and so it’s vital that companies remain competitive in this tight market,” said Tom Moran, CEO of Addison Group. “Navigating the candidate’s market is new territory for a lot of hiring managers. If companies aren’t at least matching their offers, they risk missing out on top talent -- an area that is crucial to the future growth and success of their company.”
The report also illuminates that job seekers have access to more resources to determine industry compensation. Fifty-eight percent of respondents have used online research (Glassdoor, Pay Scale, Salary.com, etc.) and 38 percent have asked industry peers about their worth in the market. Surprisingly, only 30 percent talk with their colleagues about compensation, even though that's the most reliable source for how their company compensates.
Additional key findings from the report include:
● Nearly half of job seekers are dissatisfied with the salary/compensation at their current job
● Two in five job seekers say their current employer knows they are actively searching for a new job
● Nearly three-quarters of candidates are confident in their ability to secure a new job quickly
To learn more about the driving factors that influence job seekers to move onto other opportunities and the criteria that are most important to them, download the full report HERE.
About Addison Group
Addison Group is a professional services firm offering industry-leading expertise with a national reach and a localized touch. Specializing in Information Technology, Finance & Accounting, Healthcare, Administration, Human Resources, and Engineering, Addison Group offers a full suite of professional services, including consulting, staffing and recruiting, and executive search through its network of companies and dozens of offices throughout the United States. Founded in 1999, Addison has been repeatedly recognized by the media as one of the fastest growing private companies in the United States as well as a top workplace and a Best of Staffing Company by Inavero. Learn more at addisongroup.com.