Winter Candidate Sentiment Survey 2024 – Part 2: The shifting balance of power between candidates and clients

We run a Candidate Sentiment Survey twice a year to assess candidates’ attitudes to certain topics. This is part 2 of our Winter 2024 Survey, first published on The Currency.

• 1,796 candidates completed the survey.
• The candidates surveyed were from junior management to the “C” suite level in the IT, finance, accounting, legal, HR, banking, and ESG professions.
• The candidates were presented with a multiple-choice answer for every question, bar question one, where they chose every answer applicable to them.
• Where the same question was asked in our Winter 2023 survey, we compare it to Winter 2024.
• The survey was conducted after the U.S. presidential election and before the Irish general election.
• The survey had a “free text” box at the end, and close to 10 per cent of the candidates chose to give us their observations on certain topics. Their observations are under the relevant questions in italics.

See Part 1 of the survey here…

In part two of the two-part The Panel Candidate Sentiment Survey on behalf of The Currency, we cover:

• Is there a shift in the balance of power between candidates and clients?
• Are candidates more optimistic or pessimistic about their careers?
• Do clients have a good work culture?
• Do candidates believe their employers are true to their stated values?

Please click on the graphic to magnify it.

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I feel the balance of power in the present job market is…

1,698 out of 1,796 people answered this question.

The most significant swing in the sentiment of the respondents we recorded in this survey is that respondents clearly see the power in the job market transferring to employers.

This backs up what we see in The Panel. While the country is close to full employment, candidates have fewer roles to choose from. However, despite a talent shortage, clients are beginning to get a better choice of candidates, and they can get more people to work in the office more days than previously.

As we can see from previous answers, there is still significant resistance to working in the office full-time. However, the dynamic is changing in favour of the employer. The drop from 37 per cent to 25 per cent in people believing that the power is with the employee is significant. The rise in respondents who see the power with the employer has risen significantly from 31 per cent in 2023 to 44 per cent today.

What the respondents said:

“Return to office push by certain employers does not reflect diversity and inclusion values of supporting people at important life stages, particularly women—young families, pregnancy etc.”

“I have never worked more hours. I’m pretty much never off. I work in the office and then log back on every night at home. Someone needs to reign in employers hiding this from EU regs.”

“There are many more benefits to the hybrid and remote work lifestyle that has to be explored within reason but the backpedalling on WFH we see from major companies is most definitely going to continue but SMEs should take full advantage of the reduction in WFH jobs out in the market in that way they can offer better benefits at a reduced salary that some skilled employees might take.”

“I think when you talk about the power being with the employee or employer doesn’t take into account an employee’s power rising with experience.”

“Employees’ escalating demands and costs are becoming an issue for employers.“

I think the next 12 months…

1,679 out of 1,796 people answered this question.

Overall, candidates are less optimistic about their careers: 37 per cent believe the next 12 months will be good for them, down from 42 per cent in 2023. This figure was at 50 per cent in our 2022 survey, so a steep decline in two years.

This trajectory is mirrored by the candidates who answered that progressing their careers in 2025 will be difficult, at 18 per cent, up from 14 per cent last year and 12 per cent in 2022, a 50 per cent increase in two years.

From my own career perspective, the next 12 months have me in…

1,686 out of 1,796 people answered this question.

The direction of travel is the same as the answers to the last question: 40 per cent of people are more pessimistic about the year ahead than last year (2023 – 10 per cent to 14 per cent today). Those who are optimistic about the next 12 months have fallen from 43 per cent in 2023 to 35 per cent today.

How would you describe the importance of a positive workplace culture?

1,689 out of 1,796 people answered this question.

These responses are broadly consistent with the 2023 survey. A positive workplace culture is vital, and employees value it.

Has a negative workplace culture ever been the main reason you have left a job?

1,685 out of 1,796 people answered this question.

Again, there is no real change from the 2023 survey results. We believe in the saying, “You don’t leave your job; you leave your manager.” Many negative workplace cultures are the fault of the business leaders; sometimes, it can be even just one overpowering presence.

What the respondents said:

“I feel the results of workplace pressure are underappreciated. A toxic atmosphere has led me to change jobs recently. Older generations not having any appreciation as to what toxic positivity is. Telling staff everything and everyone is amazing without acknowledging staff issues.”

“Negative culture is crippling to an organisation.”

“There is quite a lot involved in terms of companies defining and operating a company culture. Culture is very important, not only for employees, collaboration, and collective productivity but also with partners, vendors/suppliers, and, importantly, customers. It’s a very important attribute of a business.”

“I think recruiters need to play their role as an extension of these businesses and that they portray the matching culture and support the candidates.“

If you work in an office less than 2 days per week, do you find it more difficult to connect with your organisation’s culture?

1,592 out of 1,796 people answered this question.

This question is aimed at the candidates working remotely or in a hybrid fashion. In this survey, fewer respondents feel connected to their company culture than in 2023, down from 35 per cent in 2023 to 29 per cent now.

I believe that my employer…

1,626 out of 1,796 people answered this question.

Another new question this year. In The Panel, we are increasingly dealing with candidates being let go by their employers, mainly from the multinational sector. Many of them feel that their stated company values were ignored when it suited their employer, and we wanted to measure whether this was a widespread belief.

40 per cent feel that their employers’ company was true to their values only when it suited them, and 9 per cent feel their company acts opposite to their espoused values. This means that one in two respondents is sceptical about company values, a significant cohort.

That less than half of the respondents (42 per cent) believe their employer is true to their values is a poor reflection on employers in general.

What the respondents said:

“A company’s desired culture is rarely important to me. It’s never achieved, and their attempts to force it grates on me a lot. I just want to do the work and what is asked of me and avoid all the unnecessary typical fluff.”

“My employer has a mantra but doesn’t follow it through. They want you to have a work-life balance but then add more work on top of what you have already.”

“The devil is in the detail. Over the last few years I’ve focused far more intentionally on picking my employer according to value alignment. I have found MNCs/ corporate culture to be fickle, with stated “values” disappearing when times get harder. Working in NGOs/ social enterprises however has been a very different experience—values at the core.”

“A lot of employers are simply going through the motions when it comes to flexible working and actively promoting a positive culture.  Unless it affects the bottom line, the vast majority will do the absolute minimum.”

“Employers talk more about culture than live it.”

“People are seeing the BS and taking opportunities to suit themselves. Companies still claiming to be “family” and “value-driven” are laughable. It is all about money, and as an older worker, I am fed up of all the things that an employer says while doing the exact opposite in practice.”  

We would like to thank all the respondents for filling out the survey. Special thanks to those who chose to add comments; these were particularly illuminating.

This article was initially published on The Currency website.