Depending on the economy and unemployment of a nation or state that will have a major impact on how a company hires. When unemployment is high, then a business has most of the power when hiring as there will be more candidates than positions. This was true during the economic downturn from around 2006 through 2012. But when unemployment is low the opposite is true.
From 2006-2012, hiring was more like the NFL draft. Employers had their pick of candidates and they could make the candidates jump through hoops to get picked for the job. Kind of like how college kids coming into the draft have to go through the combine, do individual workouts, and interviews. And like how in the NFL draft players have wait to find out if they have been picked, candidates have to wait to see if they are going to get the job.
But when the economy is going strong and unemployment is under 5% like it has been since 2012, the hiring process is more like college football recruiting. College football recruiting makes the colleges go after the talent and they have to show the recruit all the reasons why they are the best school. And on Signing Day it is the player that decides where they are going. The same is true in business when you have less quality candidates to choose from, then they have more power. Businesses have to interview them, but the candidates also get to interview the business. And like how high school kids will have 3 or 4 schools making offers, top candidates might have 2 to 4 offers at a time and the company has to wait to hear from them.
So what is my point. We are in a time of the candidates having more power in hiring, but many companies still think it is 2008. They have long interview processes and take too long making a decision. Then other companies come in and take their bench candidates. It is important for companies to realise we are in a new era and we must change to get the best candidates.
