Businesswoman Searching Online Job In Office

It’s Time to Stop Calling Them Passive Job Seekers

passive job seekersIn the world of recruitment, we use the terms “Active and Passive Job Seeker,” to differentiate between people who are actively searching for jobs, whether out of work or ready for a change, and those who are currently employed, but may be convinced to consider another opportunity.

Before the Internet and social media, candidates had to work hard to find and apply to jobs. But with technology leading to greater access coupled with people changing jobs more frequently, I propose that a new term needs to be implemented. Call it the “Always Looking” Job Seeker, the “Semi-Active” Job Seeker, the “Opportunistic” Job Seeker.

The word passive is outdated. As long as you have a smartphone, you always have the ability to look for job opportunities. A recent Indeed study (Talent Attraction Study: What Matters to the Modern Candidate) demonstrates how job seekers have changed:

  • 71% of workers admit to active job searching or at least openness to a new opportunity. This statistic shows that passive job seekers are no longer the majority.
  • 50% of adults who earn between $100,000 and $110,000 start reviewing new job opportunities within just 28 days of the start of their current role
  • Among all employed adults, 65% look at new opportunities within 3 months of starting their new job.
  • 58% of workers look at other jobs at least every month. 18% review job openings daily.
  • 44% of adults subscribe to job alerts, which deliver notifications right to your inbox

 

Switching jobs has become more common, especially among millennials and younger generations. Currently employed millennials typically plan to stay in their current role for only a year or two. They may not be actively job seeking, but would be willing to switch for a better opportunity, whether that means better perks, better advancement potential, a greater feeling of purpose or something else.

Targeted email job alerts with matching and learning technology, such as ZipRecruiter, allow individuals to keep an eye on possible job opportunities without lifting a finger. Social media sites and niche online communities like Stack Overflow for developers, allow potential job seekers to learn about company culture, values and opportunities, where they are already spending their time online.

As the passive and active job candidate line becomes more blurred, companies need to utilize a mix of tools including social media, job alerts, specialty niche communities and referrals to reach these “in-between” candidates.

2018 is going to be a battleground for talent

5 Reasons 2018 Is Going To Be A Battleground For Talent

2018 is going to be a battleground for talent

If you’re a recruiter, you can already feel it. The demand to fill a growing number of job openings is already here. Complicating things for your recruiting efforts is the fact that job seekers have more opportunities from which to choose. In short, you’re not the only game in town.  Additionally, the improved job market has employees feeling more comfortable to move from passive to active job seekers.

If you are not yet a believer in the changing job market ahead and its effect on recruiting, here are five statistical trends that should change your mind.

Job Openings Continuing to Rise

The job openings trend across the nation has been steadily increasing since July 2009. From that time through October 2017 the total number of job openings has grown nearly 3 times larger. That means job seekers are looking at 6 million opportunities today when back in 2009 their job search would include just over 2 million jobs. That really puts incredible pressure on recruiters to differentiate their company as an employer.

The Quit Rate is Up

According to the Bureau of Labor Statistics, the number of people feeling comfortable enough to quit their jobs has nearly doubled since 2009. These individuals are quitting to accept a new position or feeling confident enough to quit without a new job on the horizon since there are plenty of job openings (as shown above) out there for them.

A Lower Participation Rate

Part of the equation for creating a sufficient talent pool to meet your recruiting needs is the number of individuals who qualify as a potential candidate but for one reason or another have opted out of the job market. In just the last 6 years, that number has decreased from 63.7% to 62.7%. Sounds like a small movement, but in combination with all of the other statistics discussed here, this has a big impact.

Lower Number of Layoffs and Discharges

There are always a number of individuals who are forced into the job market through layoffs and discharges. As the economy improves, the number of individuals affected is reduced. Hence, less talent is available for hiring in the “active” job seeker category. Unfortunately, these are what you refer to as the lower hanging fruit. This is a group that is much easier to recruit and makes your job all the easier.

Tax Changes Will Spur Pay Increases

Sometimes it just takes more money to entice individuals to stay in their current position rather than jumping somewhere else. With the newly implemented corporate tax structure companies are going to have more money to use at their discretion. Many times, they may have an opportunity to save an employee with a raise thus keeping that individual from entering into the job market.

If you want to see most of the statistics above in greater detail, go to the JOLTS Home Page on the Bureau of Labor Statistics website.

If you want more details on the 2018 job market and how you can conquer its massive challenges, feel free to contact SCG Advertising & Public Relations.