The record low unemployment rate and the tight job market are making small businesses reassess many of their hiring practices. According to ZipRecruiter, this includes providing more details in their job descriptions for help wanted ads.
ZipRecruiter analyzed the data for 4.5 million posts from early 2016 to 2018 to figure out how the rate of unemployment affected job descriptions. And simply put, businesses make more of an effort when there are fewer people in the labor market.
In order to compete for talent, small businesses are being forced to raise wages and offer more incentives. And according to the ZipRecruiter report, they are going to have to create want ads with more information to attract the right candidates too.
On it’s official blog, ZipRecruiter explains, “As unemployment falls, employers write longer job descriptions that tend to identify more skills needed for the position. As we noted above, this means that companies are more clear and specific about what they need, which helps prospective applicants figure out whether this is the right job for them and makes it easier for employers to get the workers they need.”
Help Wanted Ad Trends
Compared to 2016, the average ad in 2018 is around 70% longer. Businesses are also putting detailed information about the available position, including salaries.
ZipRecruiter says this can help potential candidates get a better understanding of the position they are applying for.
The report also looked at the difference from the 10% unemployment rate of 2009 and where it currently stands now in 2018 at 4%.
Compared to 2009, ads are now 8% longer, specifying more skills. When there is an opening it is 17% more likely to be entry level. As to salary, 18% now list how much they are willing to pay their employees and when it is listed it is 7.7% higher.
What Does This All Mean?
According to ZipRecruiter, businesses are more open to early career talent and are being more transparent while paying more as well.
For applicants, this means being able to make quick decisions. Whether this will translate to more hires for small businesses strapped to fill positions, time will tell.
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