Job market: what 2016 tells us about 2017

Some of you might have already seen and even read our freshly released Job Hunting Report for 2016. The most relevant page for job hunting managers with 10+ years of experience is page 4, right column: where do job offers that our clients have accepted come from. In other words: which channel is the most effective one?

Our clients and experienced managers who apply our method use the following channels to generate interest, interviews and consequently, ideally, job offers:

  • network
  • decision makers at approx. 50-90 selected companies (the number depends on the industry and seniority)
  • headhunters (30-40 per relevant market)
  • online jobs ads

We always recommend to focus on the first 3 channels, while only monitoring job ads on the Internet – this recommendation will not change drastically despite the following:

1-2017-en

Please note: the data was collected for professionals with 10+ years of experience.

Till 2016 the number of accepted job offers generated via the job ads channel had not been statistically significant enough (close to 0%) to be included at all. For the first time – since we’ve started collecting data in 2012 – 12% (!!!) of our executive clients have accepted job offers that were generated via “click to apply”. 12%! Half of which can be attributed to LinkedIn.

A question that arises, “Why is there such a stark increase?” or should the question be “Why have online job ads not been effective till 2016?”

As to the 50% of the 12% that were generated thanks to LinkedIn: more executives are active on LinkedIn. Not only the quantity has increased, but also the quality. Therefore, more companies decide to purchase the expensive (as compared to other portals) job ads. More managers see them, more decide to apply as it’s as easy as one click. Additionally, both headhunters and in-house recruiters use their status updates to communicate on-going recruitment projects.

As to the remaining 50% of the 12%:

  • first of all, the amount of data that we collect has increased which definitely has an impact
  • IT systems have become better at reading CVs which leads to a better selection of candidates

We’ll know within a year if the source “online job ads” is temporary or is here to stay.

What else have we observed in 2016 that seem to be trends to extend into 2017?

Headhunters…

  • …have started recommending their candidates to be on LinkedIn as opposed to the traditional message “please register on our database” (More details here: The death of the headhunter’s database)
  • …have become much (!) better at candidate management with clear messages as what happens to their CV or what kind of data processing consents need to be signed and sent; at this point we’d like to compliment SpenglerFox for their proactive Transition Program for senior executives that is free of charge!

Job hunters…

  • …have overall become more aware and more proactive:
    • at Career Angels we’ve spent less time convincing them to apply to decision makers, as on the one hand they had heard about it and on the other hand some of them had already tried that approach
    • more executives take matters into their own hands in terms of influencing their careers: strategic networking, well thought-through personal / professional branding, positioning themselves within the organization as well as on the market, etc.
    • managers from industries that are slowly but systematically consolidating: take action before they get fired; a big portion of them decide to move to more promising industries and plan accordingly as these kind of changes take more time than “simply” switching companies. To give you an example: banking manager with some sales experience moving to consulting or IT firms that service financial institutions
  • …who have spent 15-20 years in one company and who have been made redundant are helplessly clueless. The trend does not lie in that there are more executives who are lost, but more professionals got fired after such a long time at one firm

Job market and…

  • interview tools: when candidate and interviewer are not in the same location, the following means of communication are used in the following order of frequency (from most to least):
    • phone call
    • video call (on a dedicated or rented platform)
    • Skype
    • face to face
    • pre-recorded video: the candidate opens a link at an agreed time. The interview questions are then played and the answers recorded.
  • contract types: with the overall job market moving towards a “spiral” and “transitory” dynamic (read more here), we see how more and more companies (even from more conservative industries) choose to offer experienced candidates, incl. CEOs, project-based or interim contracts; only once they demonstrate their value, are they offered employment contracts

Summarizing, all the players on the job market have become better. Consequently, executives who plan on changing jobs need to step up their game.

If you are a professional with 10+ years of experience who would like to discuss how to do that, you may schedule a confidential, non-obligatory and complimentary career consultation by sending your CV to Bichl.Sandra@CareerAngels.eu. Subject: 2017. You’ll be then matched with a Career Angel depending on your seniority, geography, and industry.

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