The term "candidate short" market refers to a point in time where there are fewer job seekers than there are available positions. But what does this mean for you?
The beauty of a candidate short market is that you’ll most likely be competing against fewer applicants for any given role. It would be best if you still did everything in your power to impress, but in a smaller applicant pool, it is easier to stand out.
Here's some steps you can take before applying for jobs in a candidate short market:
Have a clear career plan mapped out.
To achieve the career you want, you must be strategic about the jobs you take on. This is where mapping out your career path can be helpful. Ultimately, your career path is simply a series of jobs that lead you to your dream job. Career paths go hand-in-hand with a career plan, which is basically a list of short and long term goals that you strive for along your career path.
There's nothing wrong with wanting a lucrative job. After all, who doesn't? However, in many cases, a pay check isn't enough to keep you motivated in the long run. The vast majority of people aspire to be fulfilled in their careers, and this comes from personal and professional development. You must therefore find a job that aligns with your career goals!
Understand what’s important to you in an organisation.
You should consider how the values of potential employers align with your own when researching companies. This is because working for a company is much more than just the number of hours you put in every single day. Suppose you are considering working for a company with a business model you admire or one that takes responsibility for the environment seriously or donates to causes close to your heart. In that case, you should feel that you and your potential employer share the same values so a long-lasting relationship will be possible.
Research the company's culture. For example, if you are more at ease in a relaxed environment, then working for a company with a strongly corporate culture might not be a good fit for you.
Don’t spread yourself too thin - take time to apply for the right jobs, read the descriptions carefully and tailor your applications.
Just because it’s a candidate short market, it doesn’t mean the level of skills and experience needed to do the job has lessened. In many places, because of the current staff shortage, there is less capacity to train or upskill someone just starting out in the industry or who may be lacking in certain areas. Because of this, it's still very important to make targeted job applications that match your skills and experience.
Making each of your job applications unique is also an important part of the job search process. The more personal your application is to each company, the more likely they will appreciate the effort you are making. As a result, they will be able to tell almost automatically whether you will be a good fit for the job. To ensure that the recipient keeps reading, you need to make sure you use all the information that is contained in the job brief in your CV!
Salaries may not have caught up yet, so set your expectations.
Start with what you enjoy. The age-old question: ‘what would you do if money wasn’t a factor?' remains one of the best approaches to finding your dream job.
What a job gives you beyond money is key. You should ask yourself if the job fits your schedule, offers good benefits, has growth opportunities, and includes enough of the work you enjoy to balance out any parts you dislike. You should consider all these factors before accepting a job.
If you currently do, or have ever had a job you dislike, think about what amount of money would have made that job something you could enjoy. For the majority of people, there is not a lot of money that could make you enjoy a job you have come to hate. Forget about the small annual raise a company might offer you. Instead, find a job you would relish attending.
A candidate short market brings with it many difficulties for job seekers and employers alike, but for candidates there can also be many advantages. Take advantage of the lowered competition by choosing now to find your next role. It’s a tricky job market to navigate, but thanks to our long-standing relationship with clients and our tailored recruitment approach, our expert teams can help you to find that needle in the haystack of openings that suits you down to a ‘T’.
For help to find your next opportunity, get in touch today.