In the March 5 San Francisco Business Times, John Sailors shared the results of a jobs survey from the Silicon Valley Leadership Group. The finding, based on a survey of 200 CEOs, was that in 2014 59% of employers will be adding jobs; a 46% increase from the same time last year. Here’s my take on what it means.
If you are a candidate looking to move on in order to advance your career, it is time to pull out your resume and brush it off. You’ll want to hone in on your own special skills and capabilities. Spend time reflecting on your accomplishments and evaluate contributions before sitting down to update the resume. This will help you include those achievements that will be worthwhile to your next employer. Make sure you reflect on what you have learned from mistakes, and be prepared to answer questions in the interview about what you’ve learned and would do differently.
If you are a CEO or hiring manager, it is time to look at your company’s compensation and benefits plans to make sure you are competitive and able to retain your talent. Your most valuable employees are able to move most easily. Make sure you are competitive in the market place and not in danger of losing your best people. We have had many requests to perform compensation analysis for our clients. It is not all cut and dried to be sure.
What motivates employees, and in particular millennials, isn’t just salary. They are looking for tangible as well as intangible benefits – like flexible work hours, fun and creative workplace environment, career advancement opportunities and corporate social responsibility – and expect potential employers to be competitive in those areas. Take time to review your current plans and perhaps have professionals review them before you lose that great existing employee or an amazing candidate to a company with a better overall offer.