Recruiters predict talent will keep leverage for 5 years

On the heels of a second round of mass layoffs, Meta’s founder Mark Zuckerberg called on staff to “find more opportunities to work with your colleagues in person.” Likewise, Amazon told employees to return to offices three days a week from May in the aftermath of letting 18,000 workers go. 

It’s a clear sign that workers no longer have the same bargaining power they possessed during the pandemic and the Great Resignation era. With financial security now at stake, employers are hoping that workers will ask “How high?” when told to jump, instead of conscious quitting, career cushioning or rage applying.  

But despite bold moves from the tech industry signaling that bosses are back in charge, recruitment experts warn otherwise. 

LinkedIn interviewed thousands of recruiting professionals to find out what The Future of Recruiting holds.

And athough a slow down in hiring and a contracting economy typically translates to less power for workers, 64% of those surveyed predicted that the leverage will be more favorable to candidates and employees (as opposed to employers) over the next five years. 

Employers still won’t be able to low-ball candidates

With rising inflation and a competitive labour market, businesses may think that they can go back to the pre-pandemic ways of low-balling candidates.

Yet, despite there being a plethora of candidates hiring managers can chose from who all need stability during the cost of living crises, this old school tactic still won’t fly.

“As a corporate recruiter, I used to be proud of closing a candidate for a less-than-market or less-than-approved offer—now I’m embarrassed that I did that,” John Vlastelica, CEO at Recruiting Toolbox says in the report. 

He warns that the “new hire becomes an immediate flight risk who can be poached with a better offer”—especially if talent retains the upper hand. 

To stay competitive, the report recommends employers offer candidates the thing they want most “by a fairly wide margin”—excellent compensation and benefits.

“There’s much more to your employer brand than good pay and flexibility, and offering them may not make you stand out—but be warned: if you don’t provide them, talent will take notice,” the report adds.

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