The current market place seems to have kicked on over recent weeks; Michael Page Marketing has noticed a 30% increase year-on-year in new job roles on the market. This is a sharp increase from Q1 where the increase was a modest 5% up year-on-year.
The Recruitment and Employment Confederation (REC) have noted from their monthly survey in May that eight out of 10 employers are planning to hire more people in the next three months. It is vital that in this candidate led market employers appreciate the need to manage their recruitment processes in order to attract the best candidates quickly or they’ll risk losing the best talent to other organisations.
Another observation we’ve made recently is that while there has been a marked increase in organisations increasing the number of hires resourced internally, we have seen an equal increase in the number of organisations who would normally recruit marketing positions themselves coming to us to resource candidates instead. Our specialist market knowledge and depth of candidate pooling is an invaluable resource.
The four top tips for employers looking to attract candidates in a candidate-driven market are:
1. Recruit the best person for the role rather than someone with industry knowledge.
Recruiting from outside of your immediate sector can mean more work initially in training them but it can often reinvigorate a team. A new hire from outside the sector will no doubt have a different view point, a new approach to marketing your organisation and will spot potential gaps in the market that have so far remained unseen.
2. Differentiate yourself from other employers to increase the volume of high calibre applications.
In a candidate driven market place, employers are often fighting within the same talent pool. Using your organisation’s branding when advertising your vacancy can often attract those candidates that may not be fully active within the job seeking market but who keep an eye on job boards in hopes of inspiration among the plethora of generic job adverts.
3. Be prepared to make a decision when you have only met a handful of candidates.
As an employer, when you start any recruitment campaign the ideal scenario is to compare and contrast a number of candidates to ensure you have seen enough talent to make a well-rounded decision. In a market that is lacking high calibre, skilled marketers, companies have to complete recruitment processes on the back of between one and three interviews or risk losing a good quality candidate.
4. Manage your recruitment process in reverse.
Too often hiring managers get sign off for a role and take the position to market but then realise that annual leave, bank holidays and meetings have blocked their diary out for a few weeks. To secure the best talent in the current market, processes need to be smooth, succinct and timely. Employers will often need to tweak their normal process to get a decision made and offer out before a candidate has another final interview with other organisations.
For more information on recruitment in the current market, contact Huw Jones, associate director at Michael Page Marketing.
T: 01932 264079