Navigating the change to an Employer Driven Market
Sandra Smart, Octopus Personnel Director, explains how COVID19 has flipped the candidate driven market on its back, and what the implications are for candidates and employers as we approach recruitment post lockdown in an employer driven market.
For the last couple of years, with unemployment at record lows, we have been operating in a candidate driven market. Put simply, this meant that high calibre candidates were often receiving multiple job offers, as well as their current employers trying to offer more for them to stay on as their employee.
The focus was on the whole package: more competitive salaries, flexible working patterns, stronger study support and a full career development plan. If a client couldn’t offer what a candidate was looking for, a competitor was. Clients had to invest heavily in the packages they were offering, but also in selling their culture, brand and reputation to attract top talent.
Thanks to the unprecedented challenges which the business world has met during the Coronavirus pandemic, suddenly the market has become saturated with candidates again, and, make no mistake, many are extremely high-calibre talent. However, during March, the Recruitment and Employment Confederation (REC) found that as a result of the unprecedented nature of the coronavirus crisis, confidence in making hiring and investment decisions fell by 21 percentage points compared with the previous month.
So how does this affect recruitment? How can you position yourself as an employer to benefit from this situation, attracting these high-quality candidates to your business, what effect will this have on those people seeking employment now, and how can recruitment agencies work to best serve both and ensure the right people are hired for the right jobs?
Strategic Recruitment for an Employer Driven Market
In a employer driven market, it is the companies who call the shots. They hire at their own pace, can focus wholly on their needs, and face little or no competition from peers in the industry. Due to the COVID19 impact, there are many high-calibre people seeking employment right now and, for those companies who are able to, recruiting now may bring many dividends.
Now, more than ever, we are working closely with our clients to understand how they are managing the crisis, and their strategic operations and workforce planning for the future. We are there to advise on successful recruitment strategies in practice and the flexibility of different types of recruitment.
We have continued to register high-quality candidates throughout this time to ensure we will be able to present the best qualified candidates, who we believe will dovetail with the company’s culture and vision, ready for virtual interviewing and, where required, digital onboarding to enable our clients to move swiftly and decisively.
Sandra’s advice to clients
Now isn’t the time to abandon all your hard work on culture, brand and reputation, but it is a perfect opportunity to find the right person with a depth of experience and drive who can fully fulfil your role. Be clear about the job role so candidates can visualise what a typical day at work might be like. Break responsibilities into short, clear job duties. Be clear about KPIs and decide which qualifications and experience you need. Think about the teams which this role works within and needs to gel with. All this information will help your recruitment consultant work hard, better, faster for you in finding the right person.
Working with the best talent
For candidates seeking employment, this is the toughest the employment market has been in a long time; it’s going to involve a lot of hard work, rejections and perseverance. But an employer driven market is not without hope.
As a recruitment agency, this is where we go above and beyond for every one of our candidates. We are there for the journey, not only talking them through roles, but advising them on changes in the market and how to most effectively self market through CVs and interviews. As many of our candidates are currently at home, or working from home, we are taking this opportunity to work even more closely with them, coaching them through the job hunt, helping them improve their CVs and keeping them focused and motivated. These quality relationships mean we are better able to advise our clients about the suitability of our candidates.
Sandra’s advice for candidates
Whilst the market is tough, there are still plenty of things you can do to make yourself as attractive as possible to a new employer.
Work with your recruitment consultant to improve your CV, and make sure you tailor it to each application.
Spend this time learning new skills, becoming part of professional discussions on LinkedIn and networking.
Your recruitment consultant can advise you on the challenges of the current market. This could mean you may need a new direction, be ready to work on a short term contract or explore temping to find that perfect fit. Be open to new suggestions.
The challenges of this market will mean many candidates, even those exceptionally well-qualified and experienced, are going to experience some nos. That’s ok. Ask for feedback, learn what you can and move on. It will be a yes soon!
How can Octopus Personnel help?
At Octopus Personnel, we are here to help and support you as you navigate these challenges. Whether you are looking for work or looking for workers, we are here at the end of the phone to help you. Call us on 01747 825568. Visit the website to request a call back or click on the send CV button to register with us.