After major job cuts during the height of the pandemic, the tables are turning. Businesses are rehiring workers (and growing teams) as the economy recovers from the national confinements. Now with a millions of roles open In Canada, it’s a job-seekers market, say many experts. “Employers are struggling to get and retain good talent,” says Tami Cooper, branding and resume strategist in Toronto Racing by design.
So what can you do to take advantage of this job market to maximize your salary and benefits, choose a workplace that’s right for you, or negotiate for a better job title? Here are tips from the experts on how to interview in a job search market and what questions to ask potential employers.
Know where to look
While growth has been steady in many fields, some areas in particular are increasing their search for candidates. Government data shows that hospitality and food service job vacancies increased dramatically in the second quarter of 2021, while sectors that shifted to remote work models, such as finance, has experienced job growth throughout the pandemic. According to a recent report According to the Canadian Federation of Independent Business (CFIB), 55 percent of small businesses face a labor shortage and have difficulty retaining or hiring staff.
Patrick Poulin, group president from Randstad Canada, says sectors such as healthcare, construction and IT all faced labor shortages before the pandemic. “That situation has now been amplified,” he says, as vacancies have increased in nursing and manufacturing, for example.
If you are open to a new opportunity, it is also wise to expand your network and talk to lots of people about your career goals and what you are looking for. With many people looking to hire, or know of a company that is hiring, word of mouth recommendations can go a long way.
Be selective about opportunities
This is the time for candidates to better choose where they want to work and the role they accept, Cooper says. In the past, when the job market was tighter, companies could choose the best candidates. But now, workers can sometimes submit multiple job postings that they can use to be more selective in both the company they want to work for and their role.
Cooper works with many clients who are taking the time to make a strategic move in their career, rather than rushing to accept the first position that appears. “Desperation and panic have shifted from the shoulders of job applicants to those of employers,” he says. For job seekers, that means interviewing potential employers as well as yourself, and asking about everything from remote work options to company sustainability practices.
For employers to attract top talent, Poulin says they must be ready to sell the opportunity. “Your future employees may ask you about your culture, your flexibility, your professional development programs, your involvement in the community, and your environmental footprint,” he says.
Negotiate job offers
In this market, you may end up with a few offers, which you can take advantage of to get the salary and benefits you want with the position that appeals to you the most, especially if an employer is holding up an offer. “Expressing to an employer that you would love to work with them but have two other genuine offers will encourage the late employer to speed up the process when the pool of candidates is small,” says Cooper.
She suggests reaching out by phone to start negotiations and, if it’s about a salary increase, sending an email to make sure your request is in writing as well. Cooper also recommends re-emphasizing your desire to accept your offer over others to help jump-start your negotiations.
Renegotiate your current position
Even if you don’t plan to quit your job or change careers, you can still use the current job market to negotiate a raise or flexible job options. Focus is everything, says Cooper. She suggests starting any salary or compensation conversation by making it clear that you are still committed to doing the job and reassuring your employer that you want to be with the company.
He then advises that any request for a raise or other benefits must be supported by evidence. “Do your research on the current fair market value for your position, taking into account the industry, the geographic location (big cities pay more than the suburbs) and the size of the company,” he says. Then use this information to justify an increase if it falls below average. Cooper recommends the Payscale and Glassdoor sites as the best resources on salary ranges for most roles.
While it is good to ask for what you want, he cautions against approaching management for a raise within two years of your employment. That period gives you enough time to demonstrate the full scope of your work and the measurable impact you have had on the company while in office. And if you don’t get what you want, it may be time to start looking elsewhere.
Reference-www.canadianbusiness.com