From the onset of the pandemic, the job market has been in a constant state of flux. Both employers and candidates have seen ebbs and flows in demand which constantly affect the dynamic of hiring trends. The Great Resignation put power and leverage in the hands of applicants, but the picture may be changing. As the economy falters slightly, many candidates are worried about their job prospects in the event of a recession. Thus, many qualified job seekers are trying to isolate the best time to look for a job.
To put it simply, the best time to look for – and secure – your next role is right now. Especially for accounting and finance positions. Here’s why.
The Market Is Strong
Despite the anticipated slowdown of the economy, the job market for top talent remains robust. Vacancies are near all-time highs, and resignations are still impacting businesses across industries.
For the time being, candidates can still exert leverage in the negotiation process. If you are searching for your next accounting or finance job, you may have the luxury of comparing several competing offers and initiating a bidding war for your employment. In response to the shortage of talent, employers are offering more comprehensive benefits packages and competitive compensation than in the years leading up to the pandemic. Job flexibility is becoming remarkably more common. Take advantage of this job seekers’ market while you can.
You Can Start While Employed
One of the best ways to find your next job is by starting a passive job search. This involves working with a recruiter to source leads on your behalf while you stay actively employed in your current role. This has numerous benefits: you can continue to generate income while prospecting, you can refine your search without the pressure to commit immediately, and your recruiting partner can expand your network while you continue to add value.
By waiting until you need a new job before looking for one, you put yourself at a major disadvantage and inhibit your ability to make sound, calculated decisions. Working with a recruiter to initiate a passive executive search helps to cut through the noise and source high-quality opportunities.
The Tide May Be Turning
As mentioned, many experts believe we are on the brink of a recession. In fact, some think we have already entered one. If the condition of the economy worsens, employers will be strapped for cash, and some will be forced to make layoffs. The current job search dynamic could change almost immediately, eliminating vacancies and increasing the supply of unemployed talent. As the age-old forces of supply and demand readjust, wages will likely decrease due to the imbalance of talent and open positions.
The best time to look for your next job is clearly right now; waiting just a few months could cause you to miss out on golden opportunities. Take action and begin a passive job search while you still have the upper hand as a candidate.
Find the Right Job with AP Professionals
Working with a recruiter increases your chances of finding the right role. We will help you create an attractive resume, network with industry professionals, and pursue the best opportunities for your career.
At AP Professionals, we pride ourselves on being an executive search firm with deep local experience and a robust national network. As the leading talent provider in the Rochester area for over 25 years, we’re confident we can help you navigate the job market and secure an exciting new role.
To begin your job search journey, get in touch with us.