While activity within the recruiting industry may have picked up, there’s one thing that’s still a thorn in recruiters’ sides—the housing market.
Because of the collapse of the housing market and the fact that it’s still attempting to recover, candidates are finding it difficult to sell their house to take a new job, or they’re unwilling to sell their house because they owe more on the house than what it’s currently worth in the market.
According to recruiting industry trainer Greg Doersching of the Griffin Group, who still works a desk, the housing market has had a definite impact on the number of deals that he’s been able to close.
“There have been at least half a dozen deals in the past year that have gone south,” said Doersching. “There have been more if you count those who have said, “Let me think about it,” and then have come back and said they couldn’t do it. Even with a $10,000 raise, they would lost $40,000 by moving because of how much they owe on their house.”
As a result, Doersching has these tips:
- Think local as much as possible. The best way to combat the housing market: a candidate who doesn’t have to move at all.
- Target candidates who aren’t likely to own homes. “Recent graduates aren’t running out to buy homes yet,” said Doersching.
- Target candidates who are near retirement age, especially for contract job orders. “Their houses are already bought and paid for, and companies still want the knowledge and experience that the Baby Boomers have,” said Doersching.