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The State of the Hiring Market

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There are a lot of unfilled jobs out there. As of the end of 2018 there were 7.3 million of them, to be precise (BLS). Organizations across the nation are looking to expand and hire, but they are facing one major challenge: finding qualified talent.

With an influx of jobs in the market and unemployment levels dropping consistently since 2010, the current hiring market is heavily candidate-driven. Candidates have plenty of options to choose from—and they are realizing this gives them an upper hand. Modern technology makes it easy for job seekers to browse a myriad of open positions across different industries. This means organizations are facing tough competition when it comes to attracting top talent.

In fact, 76% of hiring decision-makers say attracting quality candidates is their #1 challenge (Glassdoor).

The accessibility of information online has made modern job searching very different from what it was two decades ago. Companies have many more tools at their disposal to attract, impress, and sway candidates. And yet, 74% of companies still operate via transactional recruiting—simply posting a job opening online (Deloitte).

This approach to recruiting is no longer sufficient. Top candidates are likely being pursued by multiple companies and, when choosing between similar compensation packages, they will likely opt for the company that provided the best candidate experience.

It’s no wonder that the candidate experience is a top priority for a majority of hiring managers in 2019. Small changes to the application and screening process are a small investment that can simplify recruiters’ tasks and ultimately contribute to an organization’s well-being.

For more information about how to create a positive candidate experience, check out our complimentary eBook, Creating the Candidate Experience: Better Practices for Attracting Quality Hires.