How Hiring

Managers Can
Navigate A
Candidate’s Market

How Hiring Managers Can Navigate A Candidate’s Market 1

Table of Contents
Power Is In the Hands of the Job Seeker 1

Key Takeaways 2

Breaking Down the Candidate’s Market 3

What Motivates the Job Search 6

The Modern Job Seeker 10

It’s Time to Hire Differently 15

The Addison Group Difference 20

Methodology 21

How Hiring Managers Can Navigate A Candidate’s Market

Power is in the
hands of the
job seeker.
In today’s candidate’s market, where there
are more job openings to fill than there
are qualified candidates, recruiters have to
up their game to stand out. Navigating a
candidate-driven market means knowing
how to stay competitive in a landscape
where turnovers are high, compensation
is steadily increasing and differentiation
is crucial.
Addison Group surveyed more than
1,000 job seekers to see how much they
understand about the candidate’s market
and the impact to their job search, as
well as how hiring professionals can
How Hiring Managers Can Navigate A Candidate’s Market
succeed within a more challenging hiring
landscape. The report breaks down how
those looking for jobs right now interpret
the candidate’s market and how job
seekers continue to evolve as a result.
Job seekers know they hold all the cards,
and they are refusing to settle for less in
their search for new career opportunities.
To remain relevant and continue
securing the best talent, companies need
to reevaluate how they hire and retain
candidates who are more savvy and
confident than ever before.
The pressure is on for hiring managers
to ditch their traditional approaches
and make an effort to better understand
what’s motivating job seekers, how that
influences their expectations and how to
leverage increased communication and
new technologies to stand out.
1
Key
Takeaways
You can’t afford to pursue today’s
modern job seeker with old-school
hiring practices — it’s time to understand
candidate expectations and be strategic
in exceeding those standards.
82% of job seekers expect to secure
a position after less than 6 months of
actively searching
66% of candidates only expect to go
through 2 or less rounds of interviews
before knowing if they got the job or not
How Hiring Managers Can Navigate A Candidate’s Market
Candidates are generally optimistic
about the current job market, but they
don’t fully understand how to use the
candidate’s market to their advantage
in their job search.
69% of job seekers are ‘very optimistic’ or
‘optimistic’ about the current job market
25% don’t agree that today’s hiring
landscape reflects a candidate’s market
There’s a significant opportunity to
showcase your value to job seekers, but
it starts by providing meaningful support
and exceeding expectations.
In the past 12 months, 30% of job seekers
used a recruiter in their job search
53% of candidates who have worked with
recruiters expect interactions to happen on
a weekly basis
Employers must compete on
compensation because candidates
know what they’re worth in the job
market and aren’t afraid to seek out
new opportunities as a result.
92% of candidates have researched the
average pay scale for their current job, and
only half of those who researched their pay
believe they are being compensated fairly
58% opt for online research to help
determine what the average pay is for
their current role
Candidates know what they want and
are not afraid to ask for it — be ready
to negotiate.
Within the past year, 54% of candidates
have pursued negotiations with their
current employer
45% of job seekers would look to salary as
the deciding factor between 2 prospective
job offers
2
01

Breaking Down the

“Candidate’s Market”

The top 3 benefits of the candidate’s market:

Competitive salaries Geographic location Increased number

of opportunities of job offers

34% 24% 17%

How Hiring Managers Can Navigate A Candidate’s Market 3

 Today’s candidate-driven market offers lots Which benefit of the candidate’s market matters the most to you?
of opportunity for job seekers.

We define a candidate’s market (or a candidate-

driven job market) as a job market where there’s 8%
typically a surge in the number of available job
opportunities, which results in an increased 8%
demand for highly skilled talent.
34%
While many job seekers are aware that the job
market is in their favor, there’s a disconnect
between how they experience the candidate’s 9%
market and the way it impacts their job search.
Even though 75 percent of respondents agree
that today’s hiring landscape reflects a candidate’s
market, more than a quarter (31 percent) are only
somewhat optimistic or not optimistic at all about
their ability to find a new job.
17%

24%

Do job seekers know what a “candidate’s Competitive salaries

market” means in reference to the job search?
The location of opportunities

Increased number of job offers

The demand for highly-skilled candidates

57% 43%
Yes No Increased employment benefits

High volume of open positions

4
Confidence is key
Understanding the candidate’s
market is one thing, but using that
knowledge to successfully navigate
the job search process is entirely
different. The majority of job
seekers (65 percent) are confident
they can take full advantage of the
market, but the degree of confidence
varies based on the type of work a
candidate is pursuing.
How Hiring Managers Can Navigate A Candidate’s Market
How confident do you feel in leveraging
your understanding of the candidate’s
Those looking for new permanent market in your job search?
or direct hire positions tend to be
more confident in their abilities to
leverage what they know about the Contract job seekers: 54%
candidate’s market than job seekers
who desire freelance or contract
work. In general, job seekers know All job seekers: 65%
that the odds of finding employment
are in their favor.
Direct hire job seekers: 72%
5
02
What Motivates the Top 5 reasons job seekers are exploring

Job Search their options

Higher salary 59%

Want a change of pace or more challenging work 56%

More/improved employee benefits (healthcare,

vacation time, etc.) 31%

Do not like management or work culture 30%

More/improved office perks (flex hours, food in the

office, etc.) 21%

6
Salary
Compensation remains a significant
driver for people to search for new
jobs — even if they are satisfied with
their current employer and the work
they do. Job seekers are not afraid to
use the resources available to them
to gain an understanding of what
they are worth in the market. What
does this mean for employers?
The status quo is no longer enough.
Stay competitive on the things job
seekers care about most, or risk
losing top talent.
Nearly 60 percent of candidates are
looking for a new job to gain higher
compensation. However, there’s an
even split on feeling as though they
RESOURCE
RANKING
The top places
job seekers look
to determine their
average pay scale
for their current role
Do you believe you are being fairly
compensated in your current job?
are being fairly compensated. And
just 8 percent of job seekers admit Yes 46% No 46%
that they haven’t done any research
about their average pay for their
current job.
Whether they feel as though
they are being paid fairly or not,
the majority of candidates know
what they are worth in the market.
And they rely on a variety of
channels to receive that information.
While online research and media
assets remain a go-to, job seekers
also use their personal and
professional networks to better
understand the average pay scales I haven’t researched the average
for their current roles. pay for my current job 8%
58% 38% 30%
Online research (Glassdoor, Pay Industry peers Colleagues at
Scale, Salary.com, etc.) current employer
24% 18% 15%
Media (articles, rankings, Family/friends Staffing Agency
industry reports, etc.)
7
Satisfaction How much impact do the following factors have on your loyalty
to your current employer?
Feeling happy or content at work is important,
but it’s not everything.
STRONG IMPACT SOME IMPACT LITTLE IMPACT NO IMPACT

In fact, the majority of people (72 percent) are

satisfied at work but are still actively seeking out The work I do 55% 32% 9% 3%

other employment opportunities. Understanding

what matters most to employees is the best way Salary/Compensation 50% 32% 12% 6%
to not only attract talent, but increase employee
retention going forward.
My manager/direct supervisor 39% 35% 17% 10%

Employee benefits 39% 34% 14% 13%

The success of the company 37% 41% 13% 9%

The company’s public reputation 36% 38% 15% 11%

Transparent communication 36% 36% 17% 11%

My colleagues 32% 39% 18% 11%

The company’s mission/value statement 31% 40% 19% 10%

A diverse workforce 28% 34% 22% 16%

How long I’ve been at the company 28% 39% 22% 11%

Environmentally friendly practices 25% 36% 21% 18%

Philanthropic efforts 19% 36% 25% 21%

8
From employee benefits to office management, a wide variety
of factors can influence an employee’s attitude toward his or
her employer. But what tips the scale between staying put
and seeking out other opportunities? For most job seekers,
satisfaction centers more around the work they do and having
the right work-life balance, while the most dissatisfaction tends
to be linked to salary and employee benefits.

How satisfied are you with the following aspects

of your current job?

SATISFIED DISSATISFIED

Employee benefits 56% 44%

Salary/compensation 54% 47%

My career path 57% 43%

Management 66% 34%

Work-life balance 76% 24%

The industry that I work in 75% 25%

The work I do 80% 20%

9
03

The Modern
Job Seeker

Top 5 ways to find a new job

01 Monitoring online job boards

02 Networking

03 Recruiting firms and/or staffing agencies

04 Social networking platforms

05 Emailing a company’s recruiters/HR directly

10
Today’s candidates are highly-motivated,
confident and resourceful in their job
searches. Learn a bit more about who these job
seekers are and what they want.

Not only are job seekers confident they can land

new opportunities, they are clear about which
channels they prefer to use to get there. While
digital options take precedence, many see the
value in capitalizing on their current networks or
relying on the services of professional recruiting
firms and staffing agencies.

71% 70% 69%

JOB SEEKER 2.0

are confident in their ability to will lose interest in a have discussed increasing
Take a look at how secure a new job quickly prospective employer if it takes their salary with their current
job seekers are more than a week to hear back employer
taking themselves after the final interview
— and their
approach to finding
new employment
opportunities — to 60% 41% 30%
the next level.

have been looking for jobs for say their current employers have used a recruiter in their
less than 3 months know they are actively job search efforts
job searching

11
The initial interactions between a job seeker
and a prospective employer can make or break
What matters most to you when interacting with a
a potential job opportunity — especially in a
prospective employer?
competitive market where the stakes are high.
Keeping candidates interested and engaged is
crucial, but it starts by understanding where
their expectations lie. 10% 12%

Job seekers look for prospective employers who

understand their needs and are flexible in their
offerings — but they don’t have patience for
inefficient, slow hiring practices. Stay ahead
of the curve by ensuring hiring processes are
convenient, transparent and kept moving forward.
22%
29%

28%

Transparency regarding salary & benefits 29%

The amount of information provided about the role 28%

Responsiveness to questions 22%

A quick and efficient hiring process 12%

Openness to negotiate 10%

12
 Recruiters and staffing agencies remain a largely
untapped resource for job seekers. While
candidates see the value recruiters can bring to JOB SEEKER 3.0
the process of finding a new job, there’s still a
disconnect between knowing the benefits and Don’t just focus on
actually reaching out for help. 57% email
what job seekers
want to hear, know 49% phone
In the last 12 months, just 30 percent of job how and when 45% in person
seekers have used a recruiter in their search they want to be
for a new job. However, of those who have, communicated with.
nearly half (49 percent) appreciate having some
assistance with tracking down open positions
and 22 percent rely on recruiters for help with
salary negotiations.

What job seekers want from hiring managers

after submitting an
43%
application if they
68% don’t hear anything
58% expect to secure a job within 3 months 45% 27%
The fastest job seekers
have started a new job
53% want to engage with a recruiter on a
after applying in less than a
weekly basis
week (45%) and less than a
month (27%)

after an interview 49% only want to go through 2 rounds of

40% interviews before receiving a hiring decision
if they don’t hear
70% anything

About 1 in 5 job seekers have

45% will wait a week before following up
started a new job less than a
after a final interview
lose interest after a week day after submitting an app
lose interest in a week or less
13
Job seekers know what they want and they How comfortable are you negotiating the following benefits
aren’t afraid to ask for it. From PTO to tuition with a prospective employer?
reimbursement, candidates are more than willing
to negotiate with a prospective employer to make
sure they receive the job offer they feel they COMFORTABLE NOT COMFORTABLE

deserve. Though the level of comfort varies based

on the aspect of the job at hand, take note of the Salary/Compensation 31%
69%
areas in which hiring managers need to be ready
to negotiate with job seekers.
Flexible work schedule 78% 22%

Healthcare benefits 71% 29%

What is the most important factor in your

decision to work with a recruiter? Commuter/transit benefits 65% 35%

3%
8% Remote work 68% 32%
24%

Relocation assistance 57% 43%

29%
Starting bonus 58% 42%

Number of vacation days 68% 32%

37%
Wellness programs 65% 35%
The firm/person’s years of experience

Expertise in my desired industry 401(k) contribution 70% 30%

Proven results in job placements

Tuition reimbursement 62% 38%

Recommendation from a trusted source

Professional development 66% 34%
Other

14
It’s Time to Hire
Differently
Think you’re ready to keep up with
the modern job seeker? If so, re-
evaluate your hiring strategies by
keeping the following actionable
insights in mind.

How Hiring Managers Can Navigate A Candidate’s Market 15

It’s
01 time to hire
differently
High touch, low hesitation
To gain an advantage in the candidate’s market, it’s important
for recruiters to keep job seekers informed and engaged. The
days of expecting candidates to be there ready and waiting until
a hiring decision is finally made are long gone. Job seekers want Frequent updates
updates and answers — and they want them as soon as possible.
For today’s candidates, that means within days, not weeks. Provide updates to job
Expectations are speeding up for how quickly a candidate wants seekers frequently, or risk
to move through the hiring process, and it may be time to adjust losing their attention to
your timelines to follow suit. competing recruiters

Stick to your word

Communicate about every
step in the hiring process,
this includes what they can
expect and how soon they
will hear back (and stick to
those timelines)

Don’t worry about

over communicating
More is better in this instance.
Focus on staying top of mind
with job seekers, not whether
or not you’ve reached out
too much

How Hiring Managers Can Navigate A Candidate’s Market 16

It’s
02 time to hire
differently
Use change to
your advantage
Online platforms like LinkedIn and Glassdoor have become hiring
game-changers. New technologies and resources are empowering Keep your brand in tact
job seekers to do their research and remain highly selective when For better or worse, job seekers
considering employment opportunities. pay close attention to online
ratings of employers — so make
sure you prioritize your brand’s
online presence and reputation

Set expectations early

Early expectations help
avoid miscommunication with
job seekers

Stay flexible
Be open to new ways to better
your business, whether it’s
outsourcing, hiring or accepting
applications directly via
platforms like LinkedIn, and
communicate those initiatives
with job seekers

How Hiring Managers Can Navigate A Candidate’s Market 17

It’s
03 time to hire
differently
Stay emotionally
intelligent
It’s difficult not to take hiring personally. And when things don’t
turn out for the best, word of mouth can quickly turn from a great Soften the blow
marketing opportunity to an attack on your brand. Attracting Reject job candidates in a
the right talent — and preventing turnover — requires good complementary way, and
leadership, understanding and fair hiring practices. keep the door open for future
communications

Understand motivations
There’s no “one-size-fits-
all” approach to finding the
right talent, which is why it’s
important to recognize the
unique motivations of each job
seeker — it’s often about more
than just money and titles

Fight for the right fit

Job seekers may hold all the
cards in a candidate’s market,
but don’t let them know it
— remain selective and use
discernment to find the best
person for the job
How Hiring Managers Can Navigate A Candidate’s Market 18
The profiles and
expectations of
job seekers are
changing at a
rapid pace.
To stay relevant and attract the right
talent, it’s time to make sure your
recruitment and hiring processes are in
line with what candidates are looking for.
Job seekers may have the upper hand
in the candidate’s market, but that’s not
where the story ends. By understanding
how job seekers are interpreting the job
How Hiring Managers Can Navigate A Candidate’s Market
market, you can use this information to
drive smarter hiring process decisions.
From frequent communication to
transparency regarding salary and
benefits, make sure you’re providing
candidates with the information they
crave. Not only that, use the new
technologies and platforms to keep the
hiring process moving.
Upgrading your recruiting to satisfy the
demands of job seekers may take time,
but it’s certainly worth the effort. By
enhancing the experiences and touch
points job candidates have with your
business, you can ensure you stand out
as an attractive, modern employer in an
ever-changing job market.
19
The Addison Group
difference
Ready to take your recruitment to
the next level? Learn more about
how Addison Group can help.

20
Methodology
Addison Group surveyed more than 1,000 U.S. job seekers in July 2018.
These respondents were currently employed in either full-time or part-
time positions, and actively looking for a new job. The gender and age
breakdowns of the respondents are as follows:

What is your gender? How old are you?

65+
18-24
55-64 3%
11% 13%

45-54
Female Male
17%
65% 35%

25-34
34%

35-44
23%

How Hiring Managers Can Navigate A Candidate’s Market 21

 About Addison Group
Addison Group is a leading provider of professional staffing and permanent
placement services for Information Technology, Finance & Accounting,
Executive Search, Healthcare, HR & Administrative, and Engineering.
Addison’s strengths are its strong management and executive teams, a
relationship focused selling strategy, a history with clients of delivering the
right candidate at the right time, and a loyal candidate base. With over 24
offices in cities across the United States, Addison Group offers a national
reach with a localized touch. Learn more at http://www.addisongroup.com.

How Hiring Managers Can Navigate A Candidate’s Market 22