We are one month into 2023 and there are still mix feelings as to how the year is going to turn out for everyone. With talks for a looming recession hanging over our heads for the past few months, some businesses are still in a holding state to wait and see how things will play out, while others are going full steam ahead with growth plans.
For those that are looking to hire new talent for their teams, there is good news as several polls and surveys of responses from job seekers all point to the same things that the talent market is looking for when it comes to finding a new job. Below is a quick look at the top motivators for Job Seekers in 2023:
1) Compensation & Pay Transparency
Leading the way as the primary motivator for change is a higher salary due to inflation and the increased cost of living. However, the same impacts of inflation also affects businesses and salaries can only go so high before businesses need to cut costs again leading to layoffs.
People also like to see more pay transparency and this could work in employers favour as people recognize that their peers and the market is not getting as high of a salary as they thought when they were in the dark, the idea that the grass is always greener on the other side of the fence, in reality, may not be so.
2) Flexibility & Work-Life Balance
After going through two plus years of mandatory remote working and hybrid work schedules, people have gotten used to the flexibility that comes with it and are unwilling to go back to how things were in a fully in-office schedule. They want to avoid the long daily commutes where the time could be more effectively used towards work and personal. Many still believe that some in-office interactions are important to feel engaged with the rest of the team and feel like they’re apart of the establishment. Work-life balance has really been on top of mind for the vast majority of the labour market as people are more aware of their personal and mental health.
3) Career Advancement & Upskilling
Many people are looking for growth opportunities and companies that support individual developments as well. Employees expect upward movement in their careers and will not hesitate to make a switch if they don’t see any progression or growth path with their current employers. They also want support from their employer when it comes to further education, additional training, and other forms of upskilling to better equipment themselves for more challenging roles they wish to acquire.
4) Unemployment / Uncertainty
With unemployment in Ontario sitting at 5.3%, there are still many people who are looking for a job because they need to work and a source of income. Then, there is a portion of the workforce that are also looking because of uncertainties that may be surrounding their current job.
5) Bad Manager / Company Culture
No matter the times, people leave jobs because of bad bosses and bad culture. Nobody likes working in a toxic work environment and with remote work being prominent for the last few years, the toxicity finds its way through the screens and into people’s homes. In the past, if the workplace is toxic, they can at least escape it when they clock out to go home. Now that work is home, it’s harder to escape from it.
6) Time for Change / New Challenge
Just like bad work environments, people need no reason or timing when it comes to wanting a change or a new challenge. This is more apparent especially in a work climate that we’ve all been faced with in the last few years where businesses were in a wait-and-see mode, meaning there was little to no new innovations / developments, no investments in training and development, and people simply felt their jobs being stagnant. When people get bored of their work, they seek out new challenges and if their current job doesn’t offer that, it’s time for a change.
7) Inclusive & Diverse Workplace
Another timeless motivator that has taken more of a center stage in recent years is a company’s values towards inclusiveness and diversity in the workplace. People want to be part of a team that listens to them and values their input. Furthermore, having a diverse team comes with its benefits as well where different ideas clash to spark new ideas, and different skills and traits are integrated into one team. This is what most, if not all, job seekers want to be a part of.
The next few months may still be full of uncertainty, but for those who want to secure their talent now, there is good news. Even though people are nervous about the state of the economy and the difficulty of finding a new job, the motivators are still outweighing the concerns and people want change. Eventually, everyone will start to hire again an you may just want to start hiring now and come out ahead with the talent you need before other businesses can even get their eyes on them.
Contact Us today to speak with one of our Recruitment Specialists and let us help you build your team with the right talent this year!
References:
https://hiring.monster.com/resources/blog/what-candidates-are-expecting-in-2023/
https://www.jobvite.com/blog/talent-acquisition-insights/what-job-seekers-want-in-2023/
https://www150.statcan.gc.ca/n1/daily-quotidien/230106/dq230106a-eng.htm
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