Hiring Incentives in a Red-Hot Market

There were more than nine million job openings in the US at the end of May, according to the Labor Department. With the market continuing to pick up, many employers worry about retaining their current employees and are struggling to attract new ones. Consequently, many companies are offering incentives and perks, such as signing bonuses and continued education reimbursements.

 

According to economist AnnElizabeth Konkel of the Indeed Hiring Lab, postings highlighting some sort of hiring incentive have more than doubled since last July. Additionally, job postings that say "urgently hiring" or mention hiring incentives are on the rise. "People are really trying to get workers and they are trying to get creative," Konkel said.

 

With added perks and incentives being thrown a candidate’s way, there are many things to consider when evaluating a new role. Andrew Seaman, a Senior Editor for Job Search & Careers at LinkedIn News, reached out to Human Resource experts for their opinion on how to determine “what all of these offerings mean to you as a job seeker? Which perk will actually mean something to you when you’re in the job?”

 

The key to success:

  • Knowing what you want

  • Being realistic

  • Doing your research

  • Evaluating the total offer package

  • Considering the company’s culture

 

When considering a new role, what is the biggest factor to you? We’d love to hear your thoughts!

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