The changing demand for skills in the not-for-profit sector: Opportunities to secure top talent

The global health emergency has unilaterally altered the way that businesses are operating; there has been a rush to develop home access capabilities, countless assessments of the virtues of different video call platforms, and a seismic shift in the way that we find ourselves having to work.

During this time, we have been working closely with our customers to offer support wherever and however we can, including sharing our exclusive market data and insight to highlight trends, risks, and opportunities. Understandably, many businesses have had to put a pause on recruitment for the interim. While it is near impossible to predict the full long-term impacts of this global health crisis, it is our firm belief that a strong talent pool is key to future-proofing your business, and now, more than ever is an important time to think about your recruitment strategy.

How the sector has been impacted so far

Unsurprisingly, across finance in the not for profit sector, there has been a decrease in the number of roles being advertised, which is synonymous with other sectors across the country.

Businesses have taken this time to adapt to new ways of working and in response to a rapidly evolving landscape. The Covid-19 crisis will also have helped employers identify which areas of a team are strong, and which areas need to be reviewed. In addition to this, there will be elements of work that may have previously been done one way that will have needed to evolve to become more efficient in response to the remote working setups businesses now operate.

While managing day-to-day challenges is key, when considering business continuity and survival, discussions around recruitment strategies for the next few months are equally important. When businesses begin to bounce back, there will likely be an increase in competition for top candidates, which means many organisations will miss out. This has also been demonstrated in markets across Asia. You can explore our learnings from our Michael Page colleagues in China about hiring in lockdown here.

Opportunities to secure top talent

More than ever, your talent is key. Taking Higher Education as an example, universities will be looking at ways to diversify their income streams, even more than they have traditionally. Candidates who have commercial experience working in business-facing roles will become crucial for the sector. Their ability to look at making shrewd efficiencies and maximising revenue potential is a skill set some organisations are already exploring.

Looking ahead, there will also be a need for top quality not-for-profit candidates. Professionals who have experienced tough environments in the sector and turned organisations around will be more in demand than ever before. However, competition for the top talent is always fierce, and the best candidates will typically be presented with two or three offers during their search.

In any hiring campaign money, culture, and brand play a large role in influencing candidates’ decisions, and it is often the not for profit organisation that loses out. The current climate helps mitigate this risk and getting ahead now will help secure the best talent.

Increased access to permanent employees

Passive candidates are employees who are not actively seeking a new role but would be open to one. Working from home has allowed us all valuable time to reflect and for many, it has enabled them the time to think about their careers. We have seen an influx of passive candidates getting in touch seeking advice and insight into the market. Now is an excellent time to position yourself with these candidates and get ahead of the curve.

Availability of newly qualified (ACA) talent

Typically, candidates in practice get their exam results at the end of summer through to Q4. It is becoming more common for newly qualified candidates to qualify, hand their notice in, and then go travelling before making the move into industry. However, due to the current restrictions in place, a large number of candidates have had to cut travel plans short and are now looking for both permanent and interim work.

Key considerations for your talent needs

If you are considering your future talent requirements to start building your strategy, or are unsure of whether to commence a recruitment programme, it would be a worthwhile exercise to put some thought into the following points:

• Are there gaps and what effect has the pandemic had on your team?

• Is your current workforce equipped to cope with the inevitable strains of increased expectation?

• If not, then how can recruitment positively impact this?

• Is your recruitment strategy fit for purpose and how would it measure up against similar organisations competing for talent?

• How well equipped is your organisation to connect with talent?

• Have you thought about your employee value proposition (EVP)?

• How would you best position this with a candidate?

By taking time now to identify any potential recruitment needs you may have, you will reduce strain on current staff members and mitigate the risk of having to fight for talent further down the line. If you would like to discuss how we can help you, your team, or your business at this time, please do not hesitate to get in touch for a confidential, non-obligatory conversation.

Josh Clayton
Managing Consultant, Michael Page Finance – Not for Profit