Affirming the 2023 myths

Now that December is upon us, naturally we’ve already begun reflecting on the year and what a crazy recruitment market it has been for 2023. 

It’s been challenging for us as recruiters for many reasons; 

- Being stuck in the middle and tactfully handling client and candidate relationships 

- Keeping everyone happy and ensuring these relationships stay harmonious, whatever the outcome

- Managing sometimes unrealistic expectations of candidates in such a wild recruitment market

Whilst we try to manage everyone’s wants and needs, candidates are much more tactical, adventurous, and direct in what they want from their job moves, focusing on not only increasing their financial wealth or title, but simultaneously using the competitive market to reduce the amount of work on their plate. 

Clients often ask us, what is normal in today’s market? Not even just in terms of salary anymore but going beyond the pay check. So perhaps this is a prime opportunity to dispel some myths or reaffirm what a candidate’s market it is. 2023 has been the year of ”Special Requests” and the typical drivers for moving job are not what they once were. Salary and promotion are not always top of people’s lists now, we’ve seen mid-level candidates ask the following of this market: 

- Sign on bonuses 

- Reduced hours or 4 days a week but not losing any of their salary 

- Huge demand to work flexibly and/or remotely rather than in the office 

- Requesting a parking space 

I think back to when I joined the finance industry 10 years ago….. Time has moved on….. I’m still in my 20’s, but wow I feel and sound old! The requests people are making of the market I would have considered ludicrous when I was joining the industry, but the craziest thing, for the most part, is that candidates are actually succeeding in their negotiations on this front. Where does this leave us? 

The world is so fast evolving, and once evolution is adopted, it’s extremely challenging to take a step backwards rather than continuing to innovate and find new ways to compete in a fast changing marketplace. 

Where will we be this time next year and what will 2024 have to offer? What's your thoughts? If you want to chat about the recruitment space and the ever changing market, get in touch with our team, we’d love to hear your take on this.