The job market looks calm on the surface. Hiring has slowed, and many employers assume talent is easy to find. However, the leaders you actually want are not applying. They are passive candidates, and reaching them takes a different approach.
What the numbers say
Private employers added about 90,000 jobs in September, according to ADP. That beat forecasts, but it is still a slow pace. Job openings dipped to about 7.1 million in August. Meanwhile, unemployment held at 4.1%.
The most telling number is quits. About 3.1 million people quit their jobs in July, which is low by recent standards. In other words, people are staying put. Strong performers are not taking risks right now. For more detail, see this latest labor market report.
Why job postings fall short
When you post a senior role, you mostly hear from people who are actively looking. Some are excellent. Still, many are between roles or unhappy for reasons you can’t see yet. The proven VP of Sales growing revenue at a competitor is not reading job boards. She is busy hitting her number. As a result, she will never see your posting.
How to reach passive candidates
Passive candidates respond to the right conversation, not an ad. Here is what works:
- Lead with the opportunity, not the job description. Explain the problem they would solve and why it matters.
- Talk about culture and leadership. Executives often rank leadership and culture above pay when weighing a move.
- Be specific about growth. Show the path to a bigger role, a bigger team, or equity.
- Move quickly once there’s interest. A slow process tells a happy candidate to stay where they are.
- Use a trusted third party. A recruiter can start a confidential conversation that a hiring company can’t.
The advantage of hiring in a slow market
A quiet market is actually a good time to hire. Fewer companies are competing hard for top leaders. Therefore, a well-run search stands out. Candidates who say “not now” to a job posting will often take a thoughtful call.
The companies that keep recruiting now will have stronger teams when growth picks back up. Waiting usually means competing for the same people later, at a higher price.
Find the leader who isn’t looking
At Broadreach, most of the executives we place were not looking when we called. We know how to find passive candidates, earn their trust, and bring them to the table.
Ready to find your next leader? Contact us to start the conversation.