In the PR job market, employees had been enjoying a period of high demand during the pandemic, with generous pay raises, enhanced benefits, and flexible work arrangements. However, economic factors were shifting the balance in favor of employers, with concerns about inflation, rising interest rates, and a looming recession.
Larry Brantley, President of Executive Search Firm Larry Brantley Talent, provided valuable insights during the interview with PRWeek in June 2022. He highlighted that PR job market insiders were noticing changes, such as longer approval times for employment contracts and organizations approaching hiring with more caution. The candidate-friendly market was evolving into a more measured and cautious environment, with tighter salary ranges and reduced signing bonuses.
Remote work was becoming a permanent feature, with 25% of new PR job postings offering remote work options. However, questions lingered about potential location-based pay caps for remote workers.
Returning to the present, Larry Brantley reflects on the interview, sharing some key observations:
- 25% of new PR jobs are still embracing remote work.
- The return-to-office model generally adopts a hybrid approach, with employees working in the office 2-4 days a week.
- Companies are undergoing a “right-sizing” of staff, often starting with entirely remote employees.
- The job market remains robust.
Notably, Larry Brantley’s view on the likelihood of a recession has changed, reducing from a 50/50 chance to less than 20%. This reflects the evolving economic landscape and the resilience of the PR industry.
Overall, the PR job market is in transition, with a shift towards employer-favored conditions and a sense of caution driven by economic uncertainties.
You can read the entire article in PRWeek here.
With over three decades of progressive experience in the advertising, marketing, and communications fields, Larry Brantley is a luminary in the realm of talent acquisition. Larry Brantley’s enduring dedication, unmatched expertise, and relentless commitment to the industry make him a cornerstone of the creative staffing landscape. His legacy continues to shape the future of talent acquisition and professional growth.