When there is uncertainty caused by occurrences such as stock market volatility, tensions between global superpowers, forthcoming elections and currently a global pandemic, it is interesting to note that the greatest effect can often be on the psyche of candidates. We are regularly asked how the employment market is looking and tend to respond outlining the volumes of jobs that are on offer. With last year as one good example, there are often more jobs around in challenging times than you may think. What does tend to happen is that candidates can grow nervous and be more hesitant to make a move into a new role. A recent Seek survey found that 70% of candidates are currently finding job-seeking overwhelming. There is a fear amongst candidates that they may be last in, first out if there is a downsize or restructure. Correspondingly, the number of job applicants usually drops away as people take a view of ‘better the devil you know.’ Candidates who do enter into hiring processes can also be more likely to get cold feet and opt to stay put with their current employer.
If you are hiring in unpredictable times this is something worth recognising. It’s a good time to remember that whilst thoroughly screening applicants is absolutely necessary, that the hiring process is a two-way street. By putting yourself in the shoes of a candidate who may be feeling uneasy whilst exploring the market you will be well-positioned to offer a more enjoyable hiring process, enhancing your chances of locking in high-calibre talent for your business.