Sixty percent of full- and part-time employees are worried about the state of the economy, and more than one-third (35 percent) fear a recession would place their job in jeopardy, according to the results from the annual State of the Candidate survey conducted by Monster, a global leader in connecting people and jobs.
Further, 58 percent of workers say they are not likely to look for a new job in 2020 and are instead hoping to achieve a raise (69 percent) and learn new skills (42 percent) in their current position. This is despite a significant number (32 percent) saying their pay is unfair, and their job negatively affects their mental health (34 percent).
Interestingly, while two-thirds of job recruiters are similarly concerned that a recession may be looming, 58 percent thought it would have a positive impact on their jobs—likely because it would increase the candidate pool and provide more leverage in salary negotiations.2
According to Scott Gutz, CEO, Monster, economic anxiety may be amplifying tensions between job candidates and recruiters, ultimately getting in the way of both sides finding the right fit.
"While it's understandable that economics plays a key role in how candidates and recruiters interact, the degree to which they are at odds may negatively impact their ability to find the right fit during the hiring process," said Gutz. "If both parties can strive to find common ground, and communicate openly and honestly throughout their engagement, they will most likely develop a positive outcome."
Other survey results indicate employees' fears about the future of work or their belief that recruiters have the upper hand in salary negotiations, prompting many to become more complacent with (or tolerant of) their current position:
Added Gutz: "For job candidates and recruiters, the goal is the same – to match the right person with the right job. But the job search is a two-way street. Employers and candidates need to operate in a mutually beneficial way, enabling them to see and understand each other clearly—to find the right fit for all."