Bigger Salaries, Smaller Candidate Pool. How Did We Get Here?

Let’s say it plainly: Salaries are through the roof. If you’re an employer recruiting for open roles, you have probably felt the sting of a qualified candidate providing a salary range that makes your eyes pop out of your head. You may wonder why it seems that over the last couple of years, you cannot seem to remain competitive when it comes to compensation. The truth is, there has been a perfect storm of factors that have led us to the current state of job market compensation.

COVID and the Great Resignation

The entire world recently experienced something that happens maybe once every century or so. It affected things in ways we can’t even imagine. The Great Resignation was one MAJOR effect. Workers across the country had a reckoning with how work affected their lives; and as a result, they resigned in droves. Job seekers now have the upper hand. They can demand higher salaries while companies compete for their employment. There are some big name companies who can surely compete, but it leaves smaller companies, with less to offer in terms of pay, way behind.

But smaller companies can compete if they can provide other valuable benefits outside of money. During COVID, people learned the value of flexibility when it comes to work. They also realized that the lack of growth potential, diversity, and other factors from their employers meant more than previously realized. Allowing an actual work-life balance is now the baseline to retain talent. Additionally, providing professional development opportunities, promoting from within, elevating diverse voices, and investing in company culture are all potentially lower-cost actions your organization can take to attract the right candidates.

Money isn’t everything to everyone. Focusing on Employee Experience may be a different cost, but one that could earn companies not only more qualified candidates, but more long-term or “sticky” employees.

The elephant in the room: INFLATION

Inflation has been felt by everyone. There isn’t really anything anyone can do to stop this train. Until our government gets a handle on things, both companies and candidates will feel the squeeze of high prices.

Focusing on how you can support your employees through Inflation can be a way to attract and retain talent. For instance, put together a workshop on “Managing Finances through Inflation”.

Take the long view

At the end of the day, things will eventually balance out. The important thing for companies to remember is that they need to keep up with the times. Always be aware of how the state of the world or the country impacts the job market. Be creative with solutions, but ensure your focus is always on your people.

< Older Post Newer Post >

Share This Post!

Talent Tap Trends & Insights | Lancaster, PA

The Future of Work

By Bernadette Hill • January 16, 2026

The Future of Work is Owned – Literally. The way people think about work is changing fast. Today’s workforce—especially Gen Z—want more than a paycheck. They’re looking for purpose, stability, and a real stake in what they help build. That shift is pushing more small and midsize businesses (SMBs) to rethink how ownership works. Employee ownership is emerging as a practical way to improve retention, engagement, and long-term performance—without adding unnecessary complexity. Tim Garbinsky , Communications Director at the National Center for Employee Ownership, has seen how powerful this can be. When employees understand how their work directly impacts the value of the business, ownership stops being a “culture initiative” and becomes part of everyday decision-making. So, what does employee ownership look like for SMBs? Employee Stock Ownership Plans (ESOPs) offer tax advantages and are often used by owners planning an eventual exit. Employee Ownership Trusts (EOTs) provide long-term stability with simpler administration. Direct employee ownership is flexible, cost-effective, and easier to roll out than many owners expect. Worker cooperatives emphasize shared ownership and democratic governance. Profit-sharing and equity compensation align incentives without shifting control. Tandem Business Center for Shared Success helps companies explore direct ownership models. According to Executive Director Drew Mousetis , about 40% of the businesses Tandem initially meet with, ultimately move forward—often starting with gradual employee education around stock ownership, financials, and valuation. Employee ownership tends to work best for businesses that are thinking about succession, want to compete for talent without raising payroll, and care deeply about culture and continuity. As Garbinsky notes, employees value transparency and stability far more than many leaders realize—especially during uncertain times. The takeaway: Employee ownership is not just a perk. It’s a strategic way to strengthen your business, reward your people, and plan for the future.

Grow Faster. Hire Better. Stress Less.

By Bernadette Hill • May 29, 2025

Let’s face it—hiring top talent these days is like finding a parking spot at a concert. It’s stressful, time-consuming, and just when you think you’ve found "The One", someone else swoops in and takes them. That’s why more companies—scrappy startups to corporate giants—are handing off recruiting to the pros. Here's why outsourcing your recruiting might be your next power move: 1. They Know What They’re Doing (Like, Really Know) Recruiters are the matchmakers of the working world. They eat, sleep, and breathe screening calls, resume red flags, and the fine art of the follow-up. So let them do what they do best, while you focus on growing your business. 2. Save Time. Save Money. Save Your Sanity. Between chasing references and ghosted interviews, hiring feels like a second full-time job. Outsourcing clears your plate—speeding up time-to-hire, slashing hiring costs, and preserving your team’s focus (and patience). 3. Flex Like a Hiring Ninja Need to fill one role this week and 20 next month? No problem. Outsourcing lets you scale your recruiting efforts up or down faster than you can say “urgent headcount request.” 4. Access to a Bigger (and Better) Candidate Pool Recruitment agencies have a secret weapon: massive networks. They know people. Good people. People who aren’t even looking... until the right opportunity comes along. You probably won’t find those folks by just tossing a job on LinkedIn and hoping for the best. 5. A+ Candidate Experience First impressions matter. A great recruiter knows how to keep candidates informed, engaged, and not completely ghosted halfway through the process. Even if someone doesn’t land the role, they’ll walk away thinking your company is classy—and that goodwill can go a long way. Final Thoughts: Outsourcing your recruiting isn’t admitting defeat—it’s playing smart. It's about hiring better, faster, and with fewer headaches. In today’s ever-changing job market, that kind of edge can be a game-changer. Plus, it means fewer awkward interviews with people who still list “Microsoft Word” under special skills.