It’s a candidate’s market: What does it mean and how to take advantage.

The labor market has gone through a major transition since the start of 2020. Since the third quarter of 2021, we have entered a candidate driven market. What does this term mean? A candidate driven job market is one in which the job seekers have the upper hand and the number of open positions are outweighing the number of job seekers. It is an ideal time to work on your career strategy.

In a candidate favoring market the individual has greater bargaining power.  With talent being in high demand, it allows the job seekers to be less flexible in terms of salary, work-life-balance and benefits.

This shift is giving candidates an advantage to:

• Highlight your transferable skills to make the change to a different career.
• Negotiate salary, with in many cases having multiple competing offers in hand.
• Secure a role that is the at the next level. Many employees that previously found it difficult to secure that higher title may no longer face that barrier.
• Working from home has diminished the role that geography plays in our search. This allows for candidates to source jobs that they would have not had previous access to.

Now with less bargaining chips, companies are dealing with this power shift by changing the ways in which they attract talent. The hiring process is being streamlined with  virtual interviewing and sped up in fear the talent will jump ship for another offer. All indicators show that securing a new role will be more lucrative and that internal mobility  will also be on the rise.

In this candidate-driven market, job seekers should take advantage of the position they are in. Apply, negotiate and make the move you have been working towards. Five Star Resume can assist by getting your documents, career strategy and tools in tip top shape.

Let us help you take your career to the next level.

Follow us on LinkedIn @ https://www.linkedin.com/company/five-star-resume

Contact us @ https://www.fivestarresume.com/#contact