It has been a candidate’s market for the past year or so, as the demand for talent has exceeded the supply of qualified people.
Whether we are in a recession or not is for the economists to decide, however with interest rates rising to fight off significant inflation and the stock market dropping rapidly, the tide may be changing.
Due to the pandemic, most people had to work from home for an extended period of time and once things started to improve, many firms adopted the “hybrid” working arrangement. The pandemic also caused people to think more about their quality of life and how much better off they were personally, by not having to commute to work (the additional cost, time, childcare, etc.) so in many cases that became the most desirable working condition.
As we enter the later part of the second quarter of 2022, while the tide has not changed yet, should we enter or actually be in a recession, companies are already starting to layoff staff and once that trend continues, employees will lose the upper hand that they have had for the past year or so.
We recommend as a candidate considering job options, that you become more flexible with your demands so that you have more career opportunities available.
For additional information on employment trends and how to attract and retain staff, feel free to contact: Michael F. Rosenblatt, President of The Quest Organization at: Michael@questorg.com
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