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High Tech and High TouchHeadhunting, Technology, and Economic Transformation$
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James E. Coverdill and William Finlay

Print publication date: 2017

Print ISBN-13: 9781501702808

Published to Cornell Scholarship Online: September 2018

DOI: 10.7591/cornell/9781501702808.001.0001

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Booms, Busts, and Changing Labor Markets

Booms, Busts, and Changing Labor Markets

Why the Great Recession Did Not Produce Good Job Candidates

Chapter:
(p.117) 5 Booms, Busts, and Changing Labor Markets
Source:
High Tech and High Touch
Author(s):

James E. Coverdill

William Finlay

Publisher:
Cornell University Press
DOI:10.7591/cornell/9781501702808.003.0006

This chapter explores three issues. First, it shows why the Great Recession affected headhunting so severely: both the hiring rate and the quitting rate declined sharply. Second, it shows how this recession changed the relationship between headhunters and their clients, as the latter became increasingly difficult to please when presented with candidates, because they wanted “perfect” candidates only due to there being a supposed “buyer’s market.” Third, it explains why the recession made employees so reluctant to become candidates and why employee wounds became less effective in turning them into job-changers; candidates, especially those with secure jobs, were now far more risk averse. The Great Recession, notwithstanding the claims that it had created a buyer's market for employers, was not a bonanza for them or for headhunters.

Keywords:   Great Recession, Unemployed candidates, Buyer’s market

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