The pool of job seekers is slowly drying upDate posted: 4/23/15 08:45:00 AM
Job seekers can rejoice, according to Jeffrey Joerres, chairman of Manpower Group, a staffing agency in Milwaukee. He told Bloomberg that his company recently added to its pool of recruiters as employers throughout the nation have cut down on the length of time it takes to make a hire.
Joerres said employers now take an average of three months to hire a worker starting with the time they put in a request with Manpower Group, which is a 30 percent drop from about 18 months ago.
The recruiters at Manpower Group are also looking into alternative methods to find potential employs in an ever-shrinking pool of candidates. Looking at vantage points outside of social media, Manpower Group recruiters are targeting trade-association meetings, forums and other public gatherings to find workers.
Keep the good times rolling
But the good news doesn't end there, according to Joerres. He said businesses are now hanging onto staff longer. Manpower Group conversions, which sees temporary employees earn full-time jobs, is at a three-year high.
And while many employers have been unaccommodating in recent years when it comes to increasing employee wages, Joerres told Bloomberg that the nation's employees should start to see a rise in overall wages as the job pool continues to dry up, creating a fiercer job market.
"You can see a little anxiety among employers," Joerres said. "I can feel the inflection point is coming."
Bob Funk, chief executive officer with the staffing agency Express Employment Professionals, told Bloomberg the tide is turning from an employer point of view.
"We're short of people in a number of cities," Funk said. "We're back in the recruiting market again."
Express Employment has recently struggled to find qualified workers in various cities throughout the country, which has prompted a change in tactics for the recruiting giant. Instead of placing emphasis on finding jobs for those who want them, Express Employment is now placing a focus on finding workers for enterprises in need of employees.
Bloomberg reported the change in strategy should not come as much of a surprise. A growing number of Americans who have been out of work for six months or more are finding it easier to land a job, and those who had given up on looking for work are now starting to search for employment once again.
Give and take
While the nation's job market is on its way up, there are still plenty of unemployed or underemployed Americans. But that doesn't mean job seekers will compromise certain aspects of their work or personal life to land a job.
According to a study from Monster Worldwide, only 16 percent of job seekers would accept less vacation or personal time when offered a job. Monster surveyed around 1,100 people and found most job seekers wouldn't compromise on key issues.
Another tipping point was healthcare, as only 13 percent of job seekers would compromise on healthcare benefits. More than four in five respondents claimed they wouldn't accept less of a bonus, while 80 percent said they would not accept a lesser salary if they were offered a job.
Additionally, only 24 percent said they would agree to work more hours while 26 percent said they would consider taking a smaller office or desk space. Commute time was also important to job seekers, as 72 percent said they would not compromise on a longer commute to the office.
The two concessions that job seekers were most likely to give the green light to were temporary positions and dress code. One-third of all respondents would be willing to take on a temporary or contract position, while 30 percent said they would be willing to agree to a strict dress code if offered a job.
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