Today's Tech Job Market Is Like the Housing Bubble
Tech job candidates today are like houses for sale
The buying frenzy in today’s housing market can easily be compared to the tech hiring market. A talent shortage combined with red hot demand is forcing hiring managers to take a page from eager home buyers trying to secure their dream home – offer top dollar right off the bat, move quickly when making decisions, and be willing to settle for less than 100% of everything you want.
7 hiring tips to consider in a volatile job market:
1. Make best offer up front
Just like a home seller who likely has multiple offers to consider, come with your best offer from the get-go or your candidate will choose to go elsewhere.
2. Highlight team culture and company values
Communicate your company’s value proposition to prospects. Don’t make them feel like another a cog in the wheel; emphasize that their contributions matter.
3. Move quickly
In this market, employers cannot afford a delay between interviewing and extending an offer. Job seekers expect immediacy, so leaving them on the hook can backfire.
4. Flexible work
Tech pros expect remote flexibility to be part of any job offer. Also, be flexible with requirements as practically no one has all the skillsets needed for today’s niche jobs.
5. Expect counteroffers
Top candidates have done their research and are in a strong competitive position. Be prepared to negotiate if you are sold on the candidate.
6. Passive candidates need a nudge
Be patient. 2020 made employees rethink work. This rethinking translates to a more methodical approach to finding a job and developing a career.
7. Optimize onboarding
Today’s job seekers are tomorrow’s job hoppers. Ensure your entire hiring experience - onboarding, training, communications - are buttoned up and inclusive.