A competitive job market is one where organizations compete for workers and workers can consider multiple employment opportunities. When sought-after skills are in demand, employees may receive attractive offers for better career prospects or benefits, increasing attrition. section 8.2.2
Bob receives competing offers
Bob begins casually exploring opportunities, joins several interviews, and receives offers. His in-demand skills give him leverage to negotiate, making departure from his current employer more appealing. section 8.2.2
A competitive job market creates several practical considerations:
- It can increase employee attrition as people pursue stronger career prospects, compensation, or benefits. section 8.2.2
- The market is outside an individual employee’s control, although accepting an opportunity may be a voluntary decision. section 8.2.2
- Leaders can respond with career development, internal mobility, supportive working conditions, recognition, feedback, and improved hiring practices. section 8.6
- When someone leaves, teams may lose contextual knowledge, face heavier technical-operations workloads, and disrupt immediate plans. section 8.6
