Labour market dynamics: People are switching jobs as priorities change

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Despite the doom and gloom, hiring sentiment remains strong with a noticeable amount of movement at senior manager and C-suite level, especially in the public sector.

“By moving job, people have been able to secure quite significant pay increases and we are seeing situations where people are pulling out very late in the interview process because they have been playing potential employers off against each other to get the best outcome,” Boyce says.

The lure of a new job is exciting but jumping ship isn’t always plain sailing. Kathryn Minshew, founder of New York-based careers platform The Muse, describes the gap between what someone is expecting from a new job and what they actually get as “shift shock”. What may also have contributed to the disconnect between job expectations and reality over the last two years in particular is remote hiring. During Covid, interviews were largely conducted via video which made it a lot harder for people to gauge the culture of a prospective employer.

Sonya Boyce says that while some hires just don’t work out, jobseekers can minimise the possibility of this happening by doing their homework on the role, the company and the sector. “When assessing a career move it’s important to think about protecting your existing CV. You need to think holistically and not make a move that is going to look at odds with your experience to date and your long-term career goals,” she says.

 

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