The spree of layoffs that began in 2022 has continued unabated till 2024. Coupled with slow wage growth and inflation, job-seekers are facing a tough time today. A recruiter has now explained why it is so hard to find jobs in 2024.
Kourtlynn Faith says layoffs in recruiting divisions across companies could be one factor as to why these companies are slow to fill vacancies. The 26-year-old US-based recruiter has gone viral for her TikTok videos where she talks about the job market in 2024.
“I was laid off three times last year. It took me seven months to find a job,” she said in one video that has collected over a million views on TikTok. “I was not the only person in recruiting or HR that was laid off. If you have a company that has 300 jobs listed, you might only have five recruiters for all 300 of those roles.”
Faith told Buzzfeed that she has worked in recruiting for six years. Recently, she has noticed that not only have there been major cuts across recruitment divisions, companies are also being bombarded with résumés.
“If you have 300 roles posted, you have 2,000 people applying to each role. How long do you think that takes? Of those thousands of people that apply, maybe more than half of them apply to roles they're not qualified for,” she said.
Faith also said that organisations have become more cautious when it comes to hiring talent, partly to cut down on the cost of training new hires. “Companies are very slow to hire. They're more strategic and have smaller headcount, which results in spending more time to find the best hire so they don't have to spend more money on resources, training, and high turnover repair,” she told Buzzfeed.
“Some major companies are willing to have one person carry the workload of three people (and not adequately compensate for it),” the recruiter added.
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