Three Things I Learned In SaaS, Sports, Tech & Live Events 4.10.23
We talk jobs in today's working world - where it's much worse than many are letting on
Talking jobs today.
It's rough out there. Feels a bit like 2001/2. There are a LOT more people unemployed in the white collar jobs - especially higher up - than I've seen. And much more than media is letting on.
Three things I learned over the past month as we're hiring and seeing candidates along with what's changing. All true experiences.
A Tale of Two Candidates: Had one of the strangest calls I've had with a candidate. We were hiring for our team and had three finalists for an important position. Two of them were terrific. Exactly where we want to be with two fantastic options. We chose Candidate A and offered them the position.
Candidate A did not accept and informed us they had another final interview later in the week, and they would get back to us. So we moved on to our long list of other qualified candidates.
We informed Candidate A of our decision and they asked for a call. I know it's normal not to take those calls, but we do. We have five rounds of interviews and appreciate their time. We really do want to help. When I informed Candidate A what had happened, in the hopes we could maybe find another position for them, I tried to make clear there were other candidates and we couldn't wait - we appreciate they're looking for what's best for them and so are we. The response was anger and resentment.
There's an entire generation who hasn't had to look for jobs in a downturn. This is new to them. Just a heads up, there are lots of qualified great people out there. We're going to do what's best for us and expect others to do the same.The Upset Recruiters: For a long time recruiting was easier than it has been historically (also: real estate, title insurance, loan funding, banking, and on and on). Venture funded start-ups lowered the bar and hired like crazy. You have a pulse? You're hired! Four jobs in three years? That's the new normal! WFH and a four day work week? Done!
Contingency and retained recruiters flocked to filling these roles. And of course they would. They get paid on volume and success. Why try to put a candidate into the company with a detailed process when I can throw them into WeWork in 48 hours and make more money doing it?
That gravy train is over. Companies who followed each other down those rabbit holes are either gone or laying off staff in droves. Who's left? Those who do it right. Who are particular about the privilege we believe it is to work where we do (and I'm one of those. I have bosses who can fire me too). Many recruiters are really struggling to understand the change and are upset when their candidates are DQ'd.
One real world example: We interviewed a sales person who "wanted to move to LA as my family works in entertainment and I'd like to start auditioning for acting roles." That's not someone who wants to work here as a career. That's someone looking for a job while they chase their dream elsewhere. We're not interested in that person and investing in their future only to have them leave once they land a gig.
The recruiter's feedback? "Give them a chance and maybe you can change their mind!" (and they were upset about it). Or, and just hear me out here….how about we hire one of the other 1500 qualified applicants who actually want to work here who we can invest in for years in a win-win? We'll go with the latter.
Shoot your shot, but get open first. There's an old saying "get the job then negotiate." It goes along with other life advice such as "get control of the house first then do your diligence" when home shopping. Just make sure when you shoot your shot, it's within reason. Many candidates believe they're due a massive increase to leave a position to join another team. And they're right! That's part of the game. But we've twice now had candidates come to the finish line and try to ask for such a large increase we just couldn't continue - only to have them come back at a much more realistic number after we'd passed. We can't start with our expectations that far removed from one another. It leads to a crappy long term relationship. Shoot your shot. Get what you're worth. But have the self-awareness of what market is.