Think you’ve got a handle on job seekers and the current recruiting landscape? You might be wrong. Jobvite’s 2015 Job Seeker Nation Study offers insights into the current job market and how job seekers are approaching their career searches. Some of the most interesting details:
- Not surprisingly, the overall job market is more robust than it has been in recent years; only 35% of job seekers think it’s gotten harder to find a job — that compares to 60% just two years ago.
- Even satisfied workers are open to a new career opportunity — and that is true no matter what the age, industry, or education of job seekers. Overall, 45% of job seekers are satisfied in the current jobs, but are still open to something new.
- Job seekers are increasingly likely to have short stints at a particular job – with more than 1/3 of Millennials reporting a job change every 1-3 years and more than half of those employed in software or technology moving every 1-5 years.
- Money matters — a lot! I think there has been a long-held “truism” that money is not necessarily a motivating factor in career decisions, but the Jobvite study shows a different reality. The primary reason for seeking a new job is for higher compensation (32% of respondents), and it is also the primary factor in deciding to accept a new job (61% of respondents). Work/life balance, growth opportunities, and flexible working arrangements were rated significantly less important than compensation.
- A mobile-friendly application process is growing in importance, especially among younger employees. More than half of Millennials want the ability to see job listings without being required to register, and a third want to apply for jobs directly from their mobile device.
- There is a disconnect between the social platforms being used by employers and recruiters to find talent and where candidates are looking for jobs. A full two-thirds of job seekers who use social media use Facebook for their job search. In fact, Facebook is the preferred social network for job searches across all income levels, yet LinkedIn remains the primary social channel for recruiters.
What does this data suggest? To me, it seems clear that employers need to step up their social game, evaluate their offers based on the current landscape, and either develop great retention programs for their top employees or be prepared to deal with much more frequent turnover. What’s your opinion?