Dive Brief:
- While a majority of workers are happy with their jobs, they're still looking for better perks. A survey by Addison Group shows 72% of workers are satisfied, but 60% are still looking around for a new job with higher wages. Of the 1,000 workers polled, 65% are confident they can leverage today's candidate-driven market to their advantage; more than half (54%) have negotiated with their current employer for a higher salary in the past year.
- Respondents cited the candidate market as beneficial in acquiring more money, finding a better location to work and reaping an increased number of offers. More than half of respondents report that they research compensation online to see if they're competitive in the market.
- Showing that workers know how valuable their skills are, almost three-quarters of respondents are confident they would be able to quickly acquire a new job. Two in five even report that their current company is aware they're actively looking for a new job.
Dive Insight:
With the war on talent at a fever-pitch, employees and the unemployed are more cognizant of their value in the marketplace and are leveraging that knowledge to their advantage. The chief reason cited for leaving an existing job is still the promise for more money. In another recent poll by Monster, 44% of respondents said the desire for more money is driving their job search.
With unemployment rates at historic lows across almost every industry, employers are looking to reduce time-to-hire simply to get candidates on board before another company has the chance. But acting fast can introduce a number of risks to the process, which is why more employers are looking to improved screening technology to better scrutinize candidates quickly before they make it through the interview process.
The market is also inspiring employers to improve their employee experience for the sake of retention. Employers are offering healthcare benefits at the highest rates since 2013 and signing bonuses for seasonal workers as the talent gap continues to squeeze business.
