In fact, I look for those incremental increases to creep even higher. This trend is inexorable. Many companies have come to realize that the differential value created by the most talented digital and direct marketers, the ones who can reconceive the business and inspire people, can be enormous. Better talent makes a huge difference. Power is shifting from companies to the individual, and that's giving talented candidates more negotiating leverage than ever before.
3. Lengthy Hiring Process
One of the biggest frustrations I hear from candidates is how they get strung along for weeks or months before companies finally make a hiring decision. One candidate I recently worked with, interviewing for a manager level position, met with 11 different department heads during a one-day visit, and that was on top of a separate meeting with an industrial psychologist. These marathon interview sessions used to be commonplace only for top retained searches at the C-level. While this example is extreme, I can tell you from my own experience that the average duration of the interviewing process in digital and direct marketing has easily doubled over the past ten years.
The reluctance to pull the trigger and make candidates jump through so many hoops is understandable. Hiring managers face a wall of worry, including fears that the fragile economic recovery will sputter and hurt their business. Plus, there's the fear of hiring the wrong person, a fear that has become much more pervasive since the Great Recession. Studies have shown that a bad hiring decision can cost a company up to five times the annual salary of the person hired, and that carries with it some potentially hefty implications for the manager who did the hiring. The decision to hire is the biggest decision a business leader makes. Unless the need is urgent and the company is losing big money while a desk remains vacant, expect hiring delays to continue to be the norm in 2014.