This supports what we are seeing in the market. People are pretty satisfied in their roles and it is getting harder to have people discuss change for new roles. To attract the best talen, you need to have someone who can discuss the details of the job, the potential of the company and the long term value of the career move in order to get them to engage in the process. Once involved, top performers have high expectations for how the search is handled and how the communication and negotiation is managed throughout.
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U.S. Job Market Faced Significant Slowdown in July The latest employment report from the U.S. Bureau of Labor Statistics reveals a stark shift in the labor market dynamics. U.S. employers added just 114,000 new jobs in July, marking a significant slowdown from previous months and pushing the unemployment rate to 4.3%, the highest since October 2021. This slowdown, coupled with revised job totals for May and June, signals a cooling labor market that raises concerns about the broader economic outlook. With employment growth well below the average and notable upticks in part-time work for economic reasons, experts like Justin Ladner, SHRM, and Nick Bunker, at Indeed Hiring Lab, highlight the increasing risks to the economy. Read the full analysis to understand the implications of this trend and what it could mean for the future: https://lnkd.in/e4sewfEU
Job Growth Hit the Brakes in July
shrm.org
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In my 12 years of experience, recruiting FMCG professionals, I've encountered a range of job offers – some fantastic, some mediocre, and some downright disappointing. 🚫 Why You Should Steer Clear of Low Salary Offers 🚫 Navigating salary negotiations for employers and candidates demands a balance of strategy and integrity. Here's why: 1. 𝗠𝗶𝘀𝘀𝗲𝗱 𝗢𝗽𝗽𝗼𝗿𝘁𝘂𝗻𝗶𝘁𝗶𝗲𝘀: Talented candidates have plenty of options. Low offers risk losing top talent. 2. 𝗧𝗿𝘂𝘀𝘁 𝗮𝗻𝗱 𝗥𝗲𝗽𝘂𝘁𝗮𝘁𝗶𝗼𝗻: Breaching trust damages your reputation as an employer. 3. 𝗥𝗲𝘁𝗲𝗻𝘁𝗶𝗼𝗻: Underpaying leads to dissatisfaction and higher staff turnover costs. 4. 𝗩𝗮𝗹𝘂𝗲 𝗥𝗲𝗰𝗼𝗴𝗻𝗶𝘁𝗶𝗼𝗻: Low job offers signal undervaluation, heavily impacting morale and performance. 5. 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗥𝗲𝗽𝗲𝗿𝗰𝘂𝘀𝘀𝗶𝗼𝗻𝘀: Short-term savings can lead to long-term losses in your recruitment strategy and brand value. 6. 𝗠𝗼𝘁𝗶𝘃𝗮𝘁𝗶𝗼𝗻 𝗜𝗺𝗽𝗮𝗰𝘁: Undervalued employees are less motivated, affecting productivity and longevity. 🌟💼 #Recruitment #BusinessIntegrity #HarbourneAssociates #JobOffers
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Yesterday, a former colleague reached out to me with some frustration. He had recently gone through two interviews with promising prospects but ended up declining both offers. Despite being told that he was a great fit, the offered salary packages were either the same as or lower than his current salary. One interviewer even suggested that joining a branded hotel from a non-branded one should be considered a career jump, even though it meant a pay cut. This experience raises a broader issue: in today’s competitive job market, attracting and retaining top talent is challenging. If you recognize potential in a candidate, it's crucial to support their financial needs accordingly. Investing in talent isn't just about filling a position—it's about fostering growth for both the individual and the organization. Remember, when we support our people, we empower them to contribute more effectively, and in turn, our companies grow. Let’s keep this in mind and make the effort to offer fair and motivating compensation. #TalentManagement #EmployeeValue #CareerGrowth #CompensationMatters
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🚀 The No. 1 Tip for Landing a Job Offer in Today’s Tough Job Market, According to HR Expert 🚀 To land a job offer in today’s challenging market, it's crucial to be crystal clear on your value proposition, says Tessa White, a career coach with 20 years of HR experience. Many job-seekers make the mistake of focusing on past tasks instead of demonstrating the outcomes they've achieved. White emphasizes that “the language of business is numbers,” advising candidates to highlight how they’ve solved problems in previous roles using specific data and results. For instance, if you successfully expanded a company into new markets or improved retention rates, quantify those achievements. By clearly explaining the impact you’ve made and the skills you bring, you can stand out from the competition and negotiate for much higher pay. #CareerAdvice #JobSearch #HR #EmploymentTips #ProfessionalGrowth #JobMarket
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Job searching? Take a moment to read this article. Navigating Job Market Trends: Key Takeaways From The April 2024 Report It calls out that the US job market is the strongest in our history. This article also discusses the details for the US market. 303,000 - new jobs in March 8.8 million - Job openings across the US Not all industries are up, but not all industries are down. TNG Boost meets Tuesday from 7-8 pm Eastern via Zoom, so location does not matter. If you are interested to talk with others in the middle of a job search, register here and join the crew. https://lnkd.in/em7g_fB https://lnkd.in/gybx2hRY
Key Takeaways From The Job Market Report: April 2024
phenom.com
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🚨 Hiring Managers, avoid undervaluing candidates when extending an offer. 🚨 If they fit within your budget and possess all the skills you seek, undercutting them could have a more negative impact than saving a few thousand pounds! Here are a few reasons below: • Decreased motivation: It can impact a candidate's enthusiasm and commitment to joining the company. They may feel undervalued therefore deciding to go elsewhere or stay where they are. • Perceived lack of market knowledge: If a candidate knows industry standards and rates, being undercut can make it look like the company is uninformed of these benchmarks. • Attracted by higher offer: Simply, if another company offers more, the candidate is more likely to choose them for better compensation. Yes, it is not all about money but it is a huge factor! Coming in at the submitted salary will simply save you time and will ensure the desired employee joins your team full of excitement! #hiringtips
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📰In today's dynamic talent landscape, where skilled individuals hold the cards, attracting the best and brightest requires more than just a competitive salary. In the talent wars raging across industries, forget outdated tactics and aggressive negotiations. 😇The key lies in crafting an opportunity so compelling, it ignites a candidate's passion and renders all other options pale in comparison. 🤵😁Understanding the candidate's aspirations, tailoring the opportunity to their career goals, and showcasing a positive work environment are essential. Competitive benefits, growth opportunities, and a clear path to success demonstrate the company's investment in the individual, fostering loyalty and long-term commitment. 🔎Read our latest blog "An Offer They Can’t Refuse” – How To Make One? which lves into the art of creating irresistible propositions, exploring strategies that go beyond mere compensation to tap into the deepest desires and aspirations of top talent. Click on the link below.👇 https://lnkd.in/g7GwDqxT
"An Offer They Can't Refuse" - How To Make One? - PeopleLogic Business Solutions (P) Ltd.,
https://peoplelogic.in
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SHRM reports out on US Job Growth for July. U.S. job growth has slowed significantly, with just 114,000 new jobs added in July and a hike in the unemployment rate to 4.3%, the highest since October 2021. Coupled with a decline in wage growth, this increases the likelihood of an impending interest rate cut by the Federal Reserve. https://lnkd.in/ec-CBiWY
Job Growth Hit the Brakes in July
shrm.org
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Frequent Job Switch Job-switching solely for salary increases, without a focus on career development, has become a trend in certain industries, especially where demand for skills is high. However, relying on this pattern as a long-term strategy can have significant drawbacks: 1. Perceived Lack of Loyalty 2. Limited Skill Development 3. Potential Red Flags on Resumes 4. Limited Opportunities for Advancement 5. Reputation Concerns 6. Burnout from Constant Adjustment Sustainable Career Development Alternatives; Set clear career goals: Instead of just chasing higher pay, focus on roles that offer both compensation and career development opportunities. Pursue internal growth: Negotiate raises or advancements within a company where there’s room for growth. Skill-building: Specializing or gaining niche skills can make you indispensable, leading to natural salary increases without frequent switching. Networking and mentorship: Building solid professional relationships and seeking mentorship within a company can lead to sustainable, long-term benefits. Job-switching can be a useful tool for growth, but combining it with intentional career planning and ethical decision-making often yields the best results over time.
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🔴𝑷𝒂𝒚: 𝑻𝒉𝒆 𝑻𝒐𝒑 𝑴𝒐𝒕𝒊𝒗𝒂𝒕𝒐𝒓 𝑾𝒉𝒆𝒏 𝑨𝒄𝒄𝒆𝒑𝒕𝒊𝒏𝒈 𝒂 𝑵𝒆𝒘 𝑱𝒐𝒃! When it comes to accepting a new job, 𝐜𝐚𝐧𝐝𝐢𝐝𝐚𝐭𝐞𝐬 𝐡𝐚𝐯𝐞 𝐚 𝐦𝐲𝐫𝐢𝐚𝐝 𝐨𝐟 𝐟𝐚𝐜𝐭𝐨𝐫𝐬 𝐭𝐨 𝐜𝐨𝐧𝐬𝐢𝐝𝐞𝐫. From company culture to work-life balance, there are many elements that can impact a candidate's decision. However, 𝒐𝒏𝒆 𝒇𝒂𝒄𝒕𝒐𝒓 𝒄𝒐𝒏𝒔𝒊𝒔𝒕𝒆𝒏𝒕𝒍𝒚 𝒓𝒆𝒊𝒈𝒏𝒔 𝒔𝒖𝒑𝒓𝒆𝒎𝒆 𝒂𝒔 𝒕𝒉𝒆 𝒕𝒐𝒑 𝒎𝒐𝒕𝒊𝒗𝒂𝒕𝒐𝒓: 𝑷𝑨𝒀 𝐖𝐡𝐲 𝐢𝐬 𝐩𝐚𝐲 𝐜𝐨𝐧𝐬𝐢𝐝𝐞𝐫𝐞𝐝 𝐭𝐡𝐞 𝐦𝐨𝐬𝐭 𝐢𝐦𝐩𝐨𝐫𝐭𝐚𝐧𝐭 𝐟𝐚𝐜𝐭𝐨𝐫 𝐰𝐡𝐞𝐧 𝐚𝐜𝐜𝐞𝐩𝐭𝐢𝐧𝐠 𝐚 𝐧𝐞𝐰 𝐣𝐨𝐛? 🔴Pay is often seen as a reflection of a candidate's value and worth to a company. It directly impacts an individual's quality of life, financial stability, and overall satisfaction with their job. 𝑾𝒉𝒆𝒏 𝒄𝒂𝒏𝒅𝒊𝒅𝒂𝒕𝒆𝒔 𝒂𝒓𝒆 𝒆𝒗𝒂𝒍𝒖𝒂𝒕𝒊𝒏𝒈 𝒋𝒐𝒃 𝒐𝒇𝒇𝒆𝒓𝒔, the salary offered can often be the deciding factor in whether or not they accept the position. Additionally, 𝒄𝒐𝒎𝒑𝒆𝒕𝒊𝒕𝒊𝒗𝒆 𝒑𝒂𝒚 𝒄𝒂𝒏 𝒂𝒕𝒕𝒓𝒂𝒄𝒕 𝒕𝒐𝒑 𝒄𝒂𝒏𝒅𝒊𝒅𝒂𝒕𝒆𝒔, and help companies stand out in a crowded job market. 𝑬𝒎𝒑𝒍𝒐𝒚𝒆𝒓𝒔 𝒔𝒉𝒐𝒖𝒍𝒅 𝒄𝒂𝒓𝒆𝒇𝒖𝒍𝒍𝒚 𝒄𝒐𝒏𝒔𝒊𝒅𝒆𝒓 𝒕𝒉𝒆𝒊𝒓 𝒄𝒐𝒎𝒑𝒆𝒏𝒔𝒂𝒕𝒊𝒐𝒏 𝒑𝒂𝒄𝒌𝒂𝒈𝒆𝒔 𝒕𝒐 𝒂𝒕𝒕𝒓𝒂𝒄𝒕 𝒂𝒏𝒅 𝒓𝒆𝒕𝒂𝒊𝒏 𝒕𝒐𝒑 𝒕𝒂𝒍𝒆𝒏𝒕 𝒊𝒏 𝒂 𝒄𝒐𝒎𝒑𝒆𝒕𝒊𝒕𝒊𝒗𝒆 𝒋𝒐𝒃 𝒎𝒂𝒓𝒌𝒆𝒕. #competitivesalaries
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