With June and summer just around the corner, we thought we’d update you on what we’re seeing and what we expect to be the biggest challenges and opportunities for hirers and job seekers during the second half of 2022.
Time to hire
Sorry, but hiring is still going to take time.
Whilst we’ve seen the average time to hire reduce throughout March and April, levels continue to remain higher than pre-pandemic levels as talent remains in short supply across core areas in digital, PR, marketing and creative sectors.
As summer begins its approach, we’re expecting hire time to increase slightly on the below averages as hiring companies experience more annual leave and internal resource challenges than previous months.
Average time to hire agency (2022) - 34.2 days
Average time to hire in-house (2022) - 41.9 days
Notice periods are getting longer
It’s no longer guaranteed your perfect candidate will be on a 4 week notice period. As companies seek to retain current staff longer (hello long hiring times), many notice periods have been increased to as long as two - three months.
Taking into consideration the longer time to hire, it’s wise to consider how this could impact your recruitment plans and whether taking a more planned approach could be best for your recruitment strategy.
Cost of living bites
As the cost of living increases, it’s natural to assume current employees may ask for pay increases and interviewees may request higher salaries. But have you considered the impact of leavers on your current staff?
We’ve heard of more cases of employees passively entering the job market after receiving feedback from colleagues on salaries in the market. Hearing they could earn more elsewhere, they’re starting to dip their toe in the job market. Just something you should keep your eye on.
Do you need a unicorn?
We’ve talked and you’ve heard plenty about the talent shortage. If you’re guilty of looking for someone who can do it all and feel like you’re getting nowhere fast, will someone who can be trained and upskilled be a better option in the long-run?
As summer approaches a fresh wave of graduates are entering the market, eager to put their skills to the test. This creates a fresh pool of untapped talent just waiting to be approached and become your next employee. Some will come ready with experience, others just want a chance. But the question is, are you still willing to wait for that unicorn? Or do you need a fast solution to your internal challenges?
For job seekers
Back to the office
Working from home has been one of the most talked about benefits of Covid. Though more than 80% of those who worked from home through the pandemic plan to do hybrid work, those who’ve been fully remote may start to see tides turning.
We’re hearing of more companies increasing their employees requirement to work in office, especially amongst those who’ve been 100% remote. Whilst we don’t expect to see remote work return to pre-pandemic levels, you may begin to see the availability of it shrink over summer.
Cost of living
Your salary could be a strong motivator for looking for a new job as the cost of living crisis continues to bite. The good news is, if your skill set is in demand (PPC, Paid media, SEO, PR, digital marketing), then many employers are still willing to pay higher than average to recruit your skills. But as inflation begins to impact company revenue, we’re unsure how long salary inflation is likely to last - making now the perfect time to be looking for that new job.
You may be in demand but …
Some hirers are loosing patience. Whilst we want to ensure you get the perfect job for you with the right salary and benefits, hirers are loosing their patience with candidates who take too long to make a decision or are making what be seen as unreasonable requests. Whilst you may hold the driving seat in a talent short market, hirers are increasingly getting used to the land and aren’t afraid to say no or withdraw offers.
Header: Image adapted from photo by Eduardo Dutra: https://www.pexels.com/photo/person-in-front-of-laptop-on-brown-wooden-table-2115217/