Like all industries, the recruitment industry is always changing. Whether new technology has become available or changing markets mean a change in approach, there is always something new to keep up with.
In my latest blog, I take a look at what we’re expecting to change in the recruitment industry over the next 12 months and what it might mean for us at ACR and HR departments and employers throughout Cambridgeshire:
A more candidate driven market
The power has shifted! Previously we were seeing a largely employer-driven market. With more candidates per job role, employers were picking from a wide pool of candidates. Now, however, it’s the candidates who are leading the market – with more and more vacancies opening, employers are looking at a smaller candidate pool.
Candidates are now in a powerful position, where they can be more selective about their next role.
Organisations and recruitment agencies must be prepared for this situation. However, with the right recruitment techniques and a careful selection and interviewing process, employers will be able to stand out of the crowd and draw in the right profile of candidates.
Here are a few of my tips:
How can employers secure candidates?
- For starters, employers and their recruitment agencies need to add value. Invest time in the candidate – get to know them and find out their requirements and deeper needs. Discover what their key drivers are.
- The employer must impress the candidate at interview and reiterate why they are a great company to work for – a strong employer brand is all-important.
- State to the candidate why current employees love to work at your place of work. Hone in on training and development, core values, working environment etc.
- Employers need to ‘sell’ themselves. Do so by demonstrating a passion for the organisation, alongside screening the candidate and conducting the standard interview.
- Move quickly. By dramatically increasing hiring speed, employers and recruitment agencies can make that offer and try and close out other offers. That way they will be more likely to choose your company.
- Candidates are realising that the power has shifted to them. This could create bidding wars (be prepared), and candidates may be asking for a higher salary after the interview. Or they may simply take longer to make a decision!
In a candidate-led market, top-level talent can seem scarce. Top talent is not hanging around for long and can be snapped up very quickly. Here are my tips to help you secure top talent, despite the current market:
How can employers secure top talent?
Many larger businesses carry out succession planning: looking at where potential gaps in the business may come from, analysing key projects, and realising a skills shortage early on.
Employers need to go one step further and share these forecasted potential needs.
But after finding out what your needs are – what do you do next? Communicate with your chosen recruitment agency and share your needs so they can source for you.
Once the role has been signed off you will have some candidates ready to interview with the correct skill set. They’ll also have been fully briefed on the role and your company.
If employers can give themselves a couple of week’s lead-time on their competitors and other employers – they can start to secure top talent.
The mobile platform
We are in a digital age! The mobile platform is where most candidates are applying for their roles. It’s versatile and it has an incredibly high response rate (compared to other communications platforms).
The mobile platform should be your main communication channel with candidates and prospective candidates. It is a great opportunity to spread your employer brand messages, to view recruiting and job description videos, and to push relevant open jobs to applicants.
Individuals will accept job offers directly on their mobile phone.
Recruiters and hiring managers must be able to post jobs, post videos, review CVs, schedule interviews, and other administrative tasks from their mobile phone.
Employees must be able to do all referral administration and apply for internal openings on their phone.
Importantly, look for a recruitment agency with a responsive website. This means it will be easy for candidates to browse their website on any device. Candidates will look at your job, find out more about the recruitment process and register their interest all via their mobile device (a tablet or mobile phone) and the recruitment agency’s website.
Finally, here are a few other trends you can expect to see:
Increases in referrals
More and more businesses are creating ‘referral schemes’ where they offer a monetary reward for recommending friends/previous employers.
Referrals produce quality hires not because of who they know, but instead because your best employees far surpass even recruiters in finding, building relationships, assessing, and selling to top people who are not active in the job market.
Increases in school and university fairs
More businesses are securing talent at an early stage. Businesses are sending advocates of their business to promote the values and speak to potential employees about why they would want to work for their company. The demand for talented graduates and fresh talent is soaring again!
Succession planning is on the rise. Businesses will try to find out at an early stage where their gaps may be and plan accordingly.