The times they are a-changing…
As the challenges of COVID continues, albeit with a vaccine in tow, the job market is busier than ever which is creating a market where candidate is KING or QUEEN.
As Managing Director of Atkins Search, I wanted to share some of our most recent findings with you.
When I first joined the world of recruitment in the mid 2000’s, candidates were calling the shots on opportunities, salaries and everything in between. It appears we are firmly on that path again so clients should be aware when bringing new hires in to their business. Things to be mindful of include:
Passive or active – Has the candidate been headhunted or are they active in the job market? Passive candidates have a greater potential to be retained by their current employer if the new role, career development and offer isn’t quite right. Most people want a career.
Career – Is it a job or a career? This needs to be clearly presented at interview, do the hard yards early doors to get the candidate bought in to what your business can offer, don’t make it all about the salary or package.
Package – Think about the rounded package not just the basic salary. We are finding candidates are more often now asking about remote working, holidays, healthcare for their family, so the total package needs to be presented, not just basic salary. One of our current clients offers unlimited holiday, which is a very attractive benefit for new candidates.
Salary – Be mindful if the candidate is passive, make the initial offer a good one, it never looks great trying to re-offer a candidates when their current employer is trying to buy them back.
Offer Management – Make sure you are working with a recruitment consultancy that gets it and doesn’t bury their heads in the sand. At all phases of the recruitment process, we need to be walking them through the potential scenarios that will arise in a candidate driven market. Also, make sure your recruiter is meeting the candidates to help manage this process.
The counter offer – Be aware of this as its more prevalent with those high in demand skill sets as the costs of replacing them sometimes outstrips the increase the client is offering to keep them. Although we all know if a candidates head has been turned, it’s only a matter of time before they come back to market, or worse their current employer sees them as a flight risk so as things tighten, they will be the first in the departure lounge. An elephant never forgets.
The elephant in the room – Have the honest conversation early, your recruiter should also be doing this, what happens when the candidate gets counter offered, walk them through the process, ideally face to face, test their answers. This should also happen at interview, get the candidates buy in, ask them directly.
Timing – Move quickly if you want the person, it shows you want them!
So why have things changed?
A lack of training in the mid 2000’s prior to the last recession has left a skills shortage.
Companies using COVID to ‘clear the decks’ of underperforming employees has left their teams threadbare so they can’t afford to lose people.
Extra money in the payroll pot to share with overstretched employees.
The cost or recruiting against the on cost of a salary hike.
Any or all of the above will have an effect. This isn’t a perfect science as we are dealing with peoples livelihoods, careers and futures, but if any of the above can help when attracting talent to your business then great.
If you want to discuss how Atkins Search can help support your business attract talent to your team then please get in touch, I can’t say in the current climate that the process will be perfect however we care about what we do and have everyone’s best interests at heart which should create the better fit both candidates and clients are looking for.