Several factors are making hiring so difficult. First, the market favors jobseekers like never before. According to a survey by the Federal Reserve Bank of New York, 3.7% of jobseekers received four job offers between November 2021 and March 2022. Nearly 20% had at least one employment offer in the same period.
The second factor is the strain on HR departments. Many companies have a number of open positions but not enough applicants. The number of new jobs posted on CareerPlug alone increased by 49% from 2020 to 2021, but applications plummeted by 30%. As a result, HR teams are scrambling to keep their organizations fully staffed and fill knowledge gaps.