June 16, 2021
The COVID-19 pandemic has impacted nearly every industry, fundamentally altering the way most organisations conduct daily business and that includes how they recruit, hire, and retain talent.
According to new research conducted by APSco (The Association of Professional Staffing Companies) to gauge the hiring and salary trends for 2021, as companies continue to contend with the pandemic, the resulting rise of working from home, and the need to fill key roles from a distance. The report found that many hasty remedies and recruitment workarounds are likely to remain after the pandemic subsides, with 65% of workers surveyed in the UK saying they “want to work remotely more frequently following the pandemic”. This will be a key factor that organisations are likely to have to keep in mind as competition for top talent increases. We have already seen that the recruitment landscape has changed in 2021 putting the candidate in the driving seat, creating a candidate-driven market.
What is a candidate-driven market?
From an employer’s viewpoint, a candidate-driven market happens when there is a lack of movement of talent willing to change jobs resulting in more job opportunities.
Good candidates are receiving multiple job offers and are also being counter-offered with more lucrative contracts to stay with their current employer. However, it’s not just about salary, but the whole package. Candidates have such a choice that they can command more competitive salaries, flexible working patterns, stronger study support and a full career development plan. If a client can’t offer what a candidate is looking for, they’ll ultimately lose them to an employer that can.
How can you secure top talent?
Make your organisation visible across all platforms. Promote positive information and sell the softer benefits that the organisation can offer.
With social distancing removing the human touch, we have started to see more emphasis on employers creating a social presence to represent their company culture, ethics and values. Employer Branding is taking centre stage.
It is imperative to act fast. By increasing the pace of the hiring process, companies can not only get talent in place faster but also decrease the chance that candidates are secured by the competition.
Although there has been an enforced shift to remote interviews, meaning recruiters and hiring managers are having an easier time scheduling interviews, there is still a perceived notion to have an intermission between interview stages; we’d recommend reducing this time to keep the positive momentum of the hiring process.
There is a downside to remote interviewing. Lack of commitment to the hiring process. Given the ease to which candidates can now attend interviews, candidates may be using video interview opportunities as a way to test the water, rather than being seriously committed to getting the job. This can mean that employers often have to go back to the drawing board and re-advertise the role when the candidates through to the interview stage are not interested in taking the process further.