The Impact of Job Scams on Job Searches

As the employment landscape evolves, job seekers face increasingly longer and more challenging job searches. Recent employment data reveals that the average duration of job searches has extended by several weeks compared to previous years.

Adding to the complexity of the hiring environment, job seekers are more frequently encountering job scams or fraudulent job postings. Scammers may create fake job listings to gather personal information or solicit money from applicants. Additionally, there are "ghost jobs," which are positions posted by genuine employers that have already been filled or for which there is no genuine intent to hire.

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Job Scams Becoming A Growing Treat in Job Searches

According to our most recent Job Seeker Survey, 64 percent of respondents reported having encountered a job offer they believed to be fraudulent. Additionally, nearly 1 in 4 job seekers reported falling victim to a job scam. This underscores the need for job seekers to not only submit more applications but also remain vigilant to avoid wasting time or being exploited.

The rise in job scams and a slowdown in hiring has substantially increased the effort required for job seekers to find legitimate opportunities. According to our most recent Job Seeker Survey, 68 percent of respondents state that job searches in this economy require more effort than they anticipated. This increasing difficulty highlights the urgent need for awareness and strategies to combat job fraud effectively.

Job Fraud: A Growing Concern for Job Seekers

When asked about the frequency with which they come across suspicious job postings, 78 percent of those surveyed replied either "often" or "sometimes." This prevalence of fraudulent listings significantly complicates the job search process. Job seekers must not only sift through numerous genuine opportunities but also remain constantly on guard against job scams. This added layer of caution consumes time and energy, making an already challenging process even more arduous.

An image displays the results to the survey question: "How Often Do You Come Across Job Postings That You Suspect Are Fraudulent?" 21% responded Never. 20% responded Often. 58% responded Sometimes.

Understanding and Preventing Job Scams

At Aerotek, our goal is to offer job search experiences that are efficient and secure for all job seekers. To this end, we implement various strategies to verify the authenticity of our job listings. Additionally, we educate applicants on how to confirm they are interacting with a genuine Aerotek recruiter. Here is some guidance we provide to help applicants verify a job opportunity:

We will communicate with applicants via a phone call, text message or an @aerotek.com email address.
We will never communicate with applicants through or ask them to use WhatsApp or Telegram.
We will never reach out with a @gmail email address (or any other email address other than @aerotek.com).
We do not hold interviews over Google Hangouts, WhatsApp or Telegram.
We will never ask applicants for money.
We do not hire for remote or data entry roles.

It is crucial for job seekers to remain vigilant and informed to avoid falling victim to fraudulent schemes. By adhering to these verification steps, applicants can ensure their job search process is both safe and legitimate, ultimately contributing to a more secure employment environment for everyone.

Additional Survey Takeaways

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Employee Financial Well-Being on the Decline in Latest Job Seeker Survey

It’s no secret that hiring is slowing down and according to research from Fannie Mae, wage growth for workers is showing signs of stagnation. Despite diminishing recession fears, the present hiring environment is affecting employees' financial well-being.

Over this past year, our Job Seeker Survey series has shown that respondents are struggling with longer hiring searches and putting in more effort to find work. The aggressive hiring that characterized the labor market in recent years appears to be fading. This adjustment highlights the challenge of wage increases versus inflation, casting a shadow on employees' financial well-being.

In our most recent Job Seeker Survey – we asked over 1,600 respondents “How would you describe your financial situation compared to this time in 2023?” 51 percent of respondents stated that they feel they are financially worse off compared to a year ago. This is up four percent from our Spring 2024 survey and a six percent increase compared to our Fall 2023 survey.

As the economy and job markets stabilize, workers are encountering fewer chances to enhance their financial standing. The number of jobs continues to outpace the number of available workers, but employers are becoming more selective and patient in their hiring processes.

Employee Financial Health Affected as Wage Growth Diminishes

Traditional methods of achieving wage growth like job searching and negotiating raises have become less successful in boosting wages compared to previous years. Our Job Seeker Survey revealed that fewer respondents receivred a raise in the past year. This highlights a labor market where earing a wage increase is more challenging. Additionally, wage growth lagging behind inflation worsens the difficulty for workers to keep up with the cost of living.

Percentage of Respondents That Have Received A Raise In The Last Year Vs. Those That Have Not

Have Received A Raise	Have NOT Received A Raise
Fall 2023 – 43%	Fall 2023 – 56%
Spring 2024 – 34%	Spring 2024 – 64%
Fall 2024 – 29%	Fall 2024 – 65%

This data demonstrates a clear trend: fewer workers are receiving raises, which directly impacts their financial stability and satisfaction. As employers navigate a more selective hiring landscape, it is crucial to recognize the growing importance of competitive compensation and other benefits to retain top talent. Addressing these issues proactively will not only enhance employee retention but can also contribute to a more motivated and productive workforce.

Improving Employee Financial Health Beyond Pay Raises

Yes, employee financial wellbeing plays a crucial role in the employer-worker relationship. In our Job Seeker Survey series, respondents consistently cited pay as their top motivator for accepting a new job. According to the most recent survey, 42 percent of job seekers identified pay as the top priority, representing the highest percentage recorded in any of our surveys.

While pay and job security are the top two motivators according to our surveys, the “potential for career advancement” is often the third most important motivator. Employers who clearly communicate and demonstrate paths for workers to take on new responsibilities can also find success in improving retention.

Wage Increases Lag Behind Inflation, Affecting Workforce Satisfaction

Our most recent survey highlighted a concerning trend where more workers feel worse about their financial situation and are less likely to receive raises. The data from our Job Seeker Survey series shows a clear decline in the percentage of workers receiving raises, which directly impacts their financial stability and satisfaction. As the economy and labor market become more predictable, employers are becoming more selective in their hiring processes, making it harder for workers to improve their financial situation.

To retain top talent, it is crucial for employers to recognize the importance of competitive compensation and other benefits. Additionally, creating a more attractive workplace by promoting social connections, offering opportunities for collaboration, and clearly communicating paths for career advancement can significantly improve employee retention and motivation. Addressing these issues proactively will not only enhance employee retention but also contribute to a more motivated and productive workforce.

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