With the growing strength of our nation’s economy, the proverbial ball is back in the court of the American worker. Job churn is good news for people in the recruiting industry, but it’s important to know how to position yourself for the opportunities that arise. And moreover, how do you find the employees who might be open to a job change but haven’t taken definitive action yet? While this might not be exhaustive, here are some lessons I’ve learned from my years owning All About People, one of the fastest-growing recruiting and staffing firms in the country.
Most people in the job market today expect to have several jobs over the course of their careers. This study by Deloitte shows that most millennials, the fastest-growing segment of the population in the workforce, expect to be at a different company by 2020. A number of workers expect to change jobs once every two years, and even though these views are widespread, the leadership teams within these companies tend to have trouble predicting departures. A recent study found that almost a third of employees felt their employer did not know whether they were satisfied in their position.
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To capitalize on increasing job churn, start by putting out feelers. This is where social media tools will really come in handy. Look at your preferred candidates, and find the ones who are putting more effort into online profiles than is typical. If they start updating their biographies and descriptions of their abilities, that is a good indicator that they want their profile to look good for people viewing it. This is a telltale sign that someone is looking for a new job or at least open to considering a new position.
We see many companies hiring millennials. For many millennials, the purpose of changing jobs is incremental growth in some area, whether that’s prestige, a jump in pay or more flexibility. And according to the Bureau of Labor Statistics, most of the job changes people experience take place early in their careers. Keep a running list of the people in your network who might be interested in open positions with your clients, whether it’s through an expansion in responsibilities, a new realm of experience or a nice boost in their paychecks.
Finally, look for those who might be ready for a career change. These are typically going to be the folks in your network who are more experienced professionals, who may be interested in reinventing their careers. They are often willing to take a cut in pay in order to gain the experience they need in their new industry. Finding these people might be a bit tougher than just reading over LinkedIn profiles, but your company will reap the rewards of their passion and eagerness for a new position.
The statistics bureau found that job churn rates haven’t been this high since 2001, indicating that the American worker hasn’t been this confident in the job market in more than 15 years. Recruiters can set themselves up for a strong second quarter by using these tips to make their searches more efficient, targeted and effective.
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