Economists like to talk about the job market in terms of employer and candidate markets. The basic difference? The party with more control. In an employer market, as we experienced a year ago after the pandemic, employers have all the power in the world. A ton of people are applying. Companies have their choice of active and passive candidates.
That's not the market we're living in right now. Candidates have the power. Around the world, companies are seeing fewer applications and having more people drop out of the process because they already have an offer in hand.
Still, so many hiring managers still believe they’re living in an employer market. They value speed over effectiveness and encourage teams to recycle old tactics to facilitate speed. However, current conditions are unlike any job market recruiters have seen. The “tried and true” job posting templates aren't working anymore — but there are some ways to refresh old these old templates for newfound success.
Three Ears Media