Thursday, 18 April 2024

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Business News

Here’s why it’s taking you so long to land that new job

Here’s why it’s taking you so long to land that new job

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Frustrating. Footslogging. Endless. 

Did the thought of searching for a role come to mind? If so, you’re not imagining it: The job hunt has become markedly more ruthless, despite claims that workers currently hold the leverage. That’s according to ZipRecruiter’s latest Survey of New Hires, which the company publishes quarterly. Respondents include more than 1,500 U.S.-based workers who started their current jobs fewer than six months ago—and this quarter, they’re rankled.

According to ZipRecruiter, it’s taking longer for workers to find new jobs—and fewer new hires are offered signing bonuses. Respondents told ZipRecruiter they were also less satisfied with their experience on the job hunt than those surveyed in Q4 of last year. And fewer than half (46%) of respondents said they were able to find their new role within a month. (In Q4, 60% said the same.) 

Worse still, just 58% of people characterized the job search experience as positive—a 10% month-over-month drop. 

New hires may be better positioned than anyone to assess the labor market. As ZipRecruiter writes, they’re “the first to experience changes in the urgency and intensity with which employers are recruiting workers, and the terms of employment on offer.” But in tracking how long it took for these new hires to find their jobs, whether they received a signing bonus, and whether they snapped up desirable benefits, ZipRecruiter showed just how tenuous the job landscape is, and what it’s clearly missing.

If you look at the big picture, though, the first quarter of 2024 brought some good news. The share of workers who reported being actively recruited—and the share who fielded counteroffers from their old jobs—both hit historic highs, ZipRecruiter found, which is a testament to workers’ enduring upper hand. Per data from the Bureau of Labor Statistics, there were 8.76 million job openings in February 2024. Keep in mind: Prior to the pandemic, monthly openings had never exceeded 8 million. Plus, with a February unemployment rate of 3.9%, the U.S. rate has fallen below 4% for 25 months in a row, breaking a 60-year record

On the other side of things, the recruiting picture is starting to shape-shift—and that might affect your job-hunting experience, too. Instead of traditionally posting job descriptions on sites like LinkedIn or Indeed, many businesses are instead seeking out specific individuals they think will be the best fit. Nearly half…

Click Here to Read the Full Original Article at Fortune | FORTUNE…


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