Sciolytix Sales Hiring Index for November Registers its Largest Drop in 2022

Sciolytix Sales Hiring Index for November - Largest Drop in 2022
 
NEW YORK - Nov. 30, 2022 - PRLog -- New York, NY., November 30, 2022 – The Sciolytix Sales Hiring Index (SSHI) fell from 98.4 in October to 94.0 in November 2022. The SSHI measures relative demand for full-time sales talent in the US over the last 30 days through new sales job postings on Zip Recruiter, Indeed, LinkedIn and Glassdoor.

The decrease of 4.0 points is the largest drop in the SSHI since it began in July 2022. It suggests demand for salespeople softened over the past 30 days.

Source   July 2022   August 2022   Sept 2022   Oct 2022   Nov 2022

ZipRecruiter – US Sales   548,204   546,371   553,122   585,417   530,591

Indeed – US Sales   146,230   124,948   119,677   118,840   106,963

LinkedIn – US Sales   69,363   76,111   64,659   46,113   60,877

GlassDoor – US Sales   46,141   45,729   67,088   46,517   62,566

Total   809,938   793,159   804,546   796,887   760,997

Sciolytix Sales Hiring Index   100   97.9   99.3   98.4   94.0

Month-over-Month Change         -0.9   -4.4

Interestingly, postings on B2B heavy LinkedIn and GlassDoor increased while postings on the more broad-based ZipRecruiter increased. This suggests B2B companies are staffing up for 2023 while B2C companies have filled seasonal roles.

In a recent article, Mega-Companies Messed Up America's Job Market. They're Doing it Again, the Wall Street Journal reports that headlines about big layoffs don't mean the job market is melting, but they do point out excessive hiring by America's big companies during the pandemic.

According to WSJ, part of what has made America's job market so tight is that big, publicly traded companies hired like crazy after the pandemic struck. Now that many are slamming into reverse, it seems like a wave of unemployment is underway. For the people affected, job losses are horrible. But when it comes to the job market, rather than thinking of these layoffs as a sign that things are falling apart, they might indicate that it could come into better balance.

Business and sales leaders must carefully consider their market and their needs before drawing conclusions about whether to hire or fire salespeople.

Filling sales roles continues to be difficult and slow. According to results from the 2022 Gartner Tech CEO Talent Survey, the time to hire salespeople varies widely across position levels in an organization. Entry-level talent can be hired quickly in large cohorts, but mid-experience and senior-level candidates usually require a tailored hiring and onboarding process.

Among organizations reporting revenue from $2 million to $250 million:
  • 53% of senior-level hires took more than 90 days, with 32% taking from 60 to 89 days.
  • 30% of mid-experienced candidates took more than 60 days.
  • 56% of entry-level candidates took less than 30 days to hire.
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