Employers Are at War for Talent, Here’s How to Win as a Job Seeker

• 2-minute read •
Now may be the time to get a better job, better pay — or both.
As the economy continues to heat up, employers are having to fight harder to recruit and retain the talent they need. This is good news for people looking for new jobs — especially those who may have been biding their time when unemployment was higher — and for people hoping to improve their situation at their current jobs.

Here’s how to make the moves that will make you a winner in the talent war.

Do Your Homework
A tighter labor market can make it easier to negotiate better pay and other perks compared with times of relatively high unemployment. But macroeconomic trends are no guarantee of a raise in your particular job, industry or field: You’ll still have to do your homework

Research the position you hold and positions you’re interested in pursuing and find out what the demand is for your particular skill set in the place you live or are willing to move to.

You’ll then have to build a strong case based on your achievements. Employers spend money on labor with the expectation that it will build value for the organization, so if you’re going to ask for more money, you need to prove that you’re still a bargain. Come prepared to talk about your specific accomplishments and how they either increased revenue or saved money for your employer. These facts will be your best support in asking for a raise in your current role or seeking more money in a new position.

Consider Other Compensation
You may be looking for a higher salary, but even in a tight labor market, your employer’s ability to bump up your pay may be constrained by other factors. If your employer can’t raise its prices or absorb higher labor costs in other ways, it won’t be able to meet your demand for higher pay — no matter what the market at large says about the value of your skill set.

In those situations, if you want to stay with your current employer, you might be able to bargain for other perks such as more time off, a private office, a flexible schedule, or training and development opportunities. Keep your options open when you negotiate for better compensation, and find ways to compromise if your employer can’t spring for a higher salary.

Don’t Make Threats You Won't Follow Through On
If you have multiple job offers, or are in discussion with another employer and are thinking about leaving your current job, it may be tempting to try to play them off each other to try to get a better position or pay level. It’s not unheard of, but you’ll want to be very careful if you try it.

Don’t make ultimatums to your current employer or threaten to leave if you don’t get what you want. Never assume you’ll be able to use the outside offer to negotiate with your current employer, because they just might call your bluff. Know what you’ll settle for and keep negotiations civil so you don’t burn bridges with any of the employers involved.

Employers are scrambling to hire and retain strong performers to take advantage of the recovering economy, so don’t hesitate to look for ways to make it work for you. Knowing your worth and building a case for it can help you get the raise or perks you want.

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