Te-Ping Chen
speaker
373 appearances
7 recordings
1 series
first heard Mar 2022
last heard Oct 2024
Te-Ping Chen’s voice in public audio — every appearance, attributed to the second.
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Appearances
As far as what the data is documenting right now, we see it certainly for new hires.
It's fair to say that there are going to be ripple effects down the line.
Well, it's a big reset in expectations, right?
If you were job hunting a year and a half ago, you were getting plied in some cases with multiple offers.
You had a lot more leverage.
And at this point, the job seekers that we've been talking to this year, it's just it's a real turnaround.
And not only are you scrapping much more to even get an interview or any kind of response to your applications, if you are able to get to the negotiating stage and to talk pay, it's absolutely a time when expectations are being tempered and candidates are feeling that really strongly now.
Absolutely.
You may be able to hire someone for lower pay, but if you aren't paying them at an adequate rate, as one of the recruiters we spoke to for the story said, you're going to have a temporary employee.
So it certainly is a time when we see employers having more leverage in negotiations, but at the same time would probably be well advised not to push too hard.
Because after all, we still are an environment with low unemployment rates.
And certainly we have seen candidates expecting and wanting more, even if right now they're not necessarily able to get as much as they had in years past.
Yeah.
So for companies that are not positioned to pay as much as they used to, either because A, they can't afford to, or B, they just simply don't want to because market rates have dropped.
We are seeing companies turn to other kinds of mechanisms, like for example, with sales roles, maybe increasing incentives while reducing base salaries.
That's a pretty common strategy we're seeing right now.
And that seems to be one that companies have identified as a way to cut and control costs, but also try and avoid alienating applicants too much.
It just really shows how much the job market has flipped.
As you said, up till pretty recently, we were talking about the great resignation and all of the bargaining power that workers had.
And while that's still true in pockets of the economy, we can see broadly that it's just a very different environment.
Showing 201–220 of 373 · page 11 of 19
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