In Pursuit of Profit
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What are we hearing from candidates?
"Money isn't the main motivator for me." I've come to learn there are three main motivators for anyone to seek a new job: location, opportunity, and money. Before the pandemic, money easily topped the list, but that's changing, replaced by people seeking a better overall opportunity.
Whether wages have "caught up" to employees' expectations of their value in the market or some other reason, this is important to understand.
What are we hearing from clients?
"We're still hiring…" Yes, there is a lot of talk around a slowdown and there are indicators that point to something coming or here already, however, our clients are still hiring. In fact, we have many open roles…see below.
What am I feeling about the hiring market?
Anxious - there are both good and troubling signs of late. Which will ultimately win out in 2023? Good signs include inflation slowing and unemployment remaining low. Troubling signs include a group of tech layoffs that can be a canary in the coal mine, and the participation rate continuing to fall.
Fixated on a figure - the current US labor participation rate (62.1%) is below where it was pre-pandemic and continues to drop. The difference represents ~2M+ people. There is much speculation if we've lost this population for good or if some portion will return to the labor force. It would be great to see that tick upward in this tight labor market in 2023.
40 - Days to Place (avg.)
$137,333 - 2022 Avg. Placed Controller Salary
42% - Percent of Diversity Hires
74% - percent of time we get interviews for our clients
VP of Finance & Operations – Non-profit healthcare leader - Portland
Controller – Large, regional HVAC service provider - Bellevue area
FP&A Manager – Large agricultural manufacturer - Eastern Washington
Director of Finance – Healthcare services organization – Portland