Title Inflation Can Attract Talent but Deflate a Job: “Title inflation” means giving someone a title that implies they have more responsibilities than they do. This is risky for both clients and candidates. For clients, they might be able to lure talent with a more appealing title, but people will soon figure out that the titles don’t really mean what they say. Over time, candidates who are truly looking for an advancement opportunity won’t settle for a fancy title that doesn’t include more responsibility. For candidates, a fancy-but-inaccurate title may be appealing to their ego, but future employers may not continue to follow that pattern. Worse, a candidate could get skipped over for an opportunity because of the misalignment between titles, roles and experience.
July 2022 Labor Market Update: No list of recruitment headlines would be complete without a current update on the labor market! Candidates remain extremely difficult to find. There were 5.3 million more job openings in June than available workers. Yet, tech hiring is cooling down a bit. Demand for hospitality and leisure travel is up significantly even though consumers are worried about inflation and personal savings are decreasing. Some economists are beginning to warn of recession, but the strength of the labor market is tempering some of those worries. Definitely a mixed, and somewhat weird, bag.
Global Hiring Resources for HR: It’s not just employees who desire remote work. Employers are learning that “remote” workers can be located much farther away than they may have previously considered, even offshore. In many instances, employers can find skilled workers abroad and employ them remotely, which may lessen the need for visas. It can also be an effective way to diversify their workforce. However, there are still compliance issues that need to be managed, so outsourcing this may be a smart move. Employers also need to learn how to may competitive offers in foreign markets where salary and business customs are often different.
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