Are you in denial?

The market for talent is crazy and whereas certain geographies do stand out as the craziest of all (think of the Bay area), we can definitely comment on the fact that 2021 is most definitely a talent-favoring year. Will it continue to 2022? Likely to be so.

We bring this point from our most recent experiences and conversations with the hiring side of the market - the employers. And, perhaps, just a tat direct it more to European employers. It was recently brought to our attention that the obvious view of increased salaries, the fact that people do not wish to work for a bare minimum and place more importance on a mission they are after and the team they are in - all composing the actual market situation we are in - occasionally, are left out of consideration, making one enter a denial mode.

Being a part of not just one but two headhunter groups, I can safely note that the current market situation is a global rather than a local phenomenon. Every country from the USA to Switzerland is affected, arguably making the situation trickier for European employers as their talent is not just poached from neighboring countries but from the higher paying counterparts across the ocean too.  Offers earlier accepted are then rejected as a more competitive offer came through. And whereas startups often look for talent motivated by causes higher than comp, we cannot blame our high-class talent for moving if we offer the below the market average rate. I advise us not to forget that, though we are past our baby boom years, many are with families and therefore are with financial responsibilities. Recall the Maslow pyramid of needs - physiological and safety are in the fundament. Self-actualization or a better brighter job title and opportunity cannot overcome those.   

Confirmation bias can easily occur when scouting for salary bounds on Glassdoor, from large agencies and other outdated sources, in the hope to find the answer suitable to the salary bounds one prepared. I urge you not to calibrate your offering before you define and refine the exact profile you are after. A seasoned CTO will not work for the salary of an engineer (at least definitely not in 2021/22). Great talent is scarce and A players have multiple offers to choose from as a result. The question, of course, becomes very different if you are after B and C players.

So what can one do? Certainly one can stay flexible and speak with the exact talent layer one wishes to attract. Another way is to lower the expectations and bring someone more junior, accepting certain risks in the natural trade-off.