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Stop for a second and think about your work. Are you happy? Do you feel excited when you get up in the morning or do you think of ways to escape from the daily drudgery that awaits you?
Or a little more like this?
If you answered yes to the second, then read on. Chances are that you probably feel stagnated, underappreciated or simply out of place in your job or entire career path.
(You can also watch the video summary below or view the full-screen version here.)
Despite registering a record number of 5.75 million job openings this past March, the Labor Department reports that as many as 2.7 million Americans are quitting their jobs each month in 2016.
Why the huge turnover rates?
One reason could be that millennials, now the largest generation in the US workforce, expect more from their employers than just a basic salary–such as providing a sense of purpose and values like authenticity and transparency. But there are also other explanations.
According to a study conducted by Accenture, workers are unhappy with their jobs for the following reasons:
In addition, another study released last week by CareerBuilder found that 76% of full-time employees are either open to new opportunities or actively seeking a job. At the same time, however, 48% of employers still can’t find the right employees to fill their job openings.
Why can’t job seekers connect with the right employers?
It seems like modern job seekers and recruiters just aren’t seeing eye to eye on a lot of things, which can lead to unmet expectations and plenty of frustrations along the way.
This is why we’ve visualized some of CareerBuilder’s findings in an infographic, which contains little-known facts on job seekers and employers and what they expect from the recruitment process.
We live in an age of instant gratification, so when applicants don’t hear back from a recruiter within a matter of days or even weeks, they can get frustrated and decide to shift gears altogether. The study found, however, that the entire job-seeking process, from the moment you start looking to the moment you land a job, can take at least two months.
Another misconception is that if your application was rejected by a specific company, then you’ll probably never hear back from them again. In fact, 54% of employers contact past candidates who were not a right fit for other job offers. This means you should keep your eyes peeled for new opportunities by staying connected to their talent networks and signing up for alerts through job sites.
53% of employers stated that a resume alone doesn’t provide enough information to assess whether a candidate is right for a job. Most recruiters want to see a tailored cover letter, samples of past work, recommendations and social media profiles.
Employers don’t just want to know if you have the skills and experience for a specific job; they also want to know if you have the necessary soft skills, such as being dependable and exhibiting a positive attitude.
The study found that job seekers, on average, are spending 11 hours a week looking for opportunities. You might be losing out if you’re not investing the same amount of time in your job search.
More than a third of employees (36%) don’t have jobs directly related to their field of study. Beyond your degree, employers are looking for candidates with transferrable skills and a high degree of trainability, so keep your options open.
Employers are becoming more competitive when it comes to finding the most qualified talent (66% plan to offer higher starting salaries in 2016), so don’t be too quick to accept the first offer as you’ll likely have more negotiating power as a job seeker.
On the flip side, here are little-known facts recruiters and employers should consider when seeking for just the right person to fill a job vacancy.
Perhaps as a result of a growing Millennial workforce (infamous for its alleged sense of entitlement), job seekers nowadays are less likely to go through long and arduous application processes, unless it is clear that a higher base salary will be offered in the end. One in five candidates, for example, would not complete an application that would take more than 20 minutes to complete. 76% said they would like to know how long an application takes to complete before they start it.
The study also found that job seekers would wait, on average, two weeks to hear back from a recruiter before giving up on the offer altogether and moving on to other applications. Therefore, the more efficient and less drawn out your recruitment process is, the more likely it is to result in a successful hire.
In this day and age when everything is online, if job seekers can’t detect a strong online presence, then they’re more likely to move on to the next job offer. 64% said they researched a company before applying and 37% said they moved on to the next listing if they couldn’t find enough information online.
The majority–if not all–job seekers want to see more than just your company name and a description of what it does. They also want to see:
1 in 10 millennials said that if they couldn’t apply for a job through their mobile device, then they would simply move on to the next offer. So, if you want to attract young talent, make sure that your pages don’t take too long to load and that your site is mobile responsive.
The study found that job seekers use up to 16 different sites in their job search, so make sure you’re posting your ad in the right places.
A mere 31% of employers have gone through the motions of their own recruitment processes to see what it’s like to complete them. Put yourself in candidates’ shoes and try the process for yourself to find any potential issues or find ways to improve it.
Did you find this informative or useful? Watch the video recap above and share it with your networks.
Any questions or comments, just drop us a line in the comments section below, and we’ll get back to you!
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