Blog

5 June 2021
It’s a candidate’s market, so why are they in such a shortage?

Research conducted by the Recruitment & Employment Confederation and KPMG of 400 recruitment firms found “despite the increase in jobs on offer, the availability of candidates fell in April amid ongoing pandemic-related uncertainty [this] is holding people back from seeking new roles”.

Claire Warnes, of KPMG, said: “There’s a lot to feel positive about this month, with the easing of lockdown improving business confidence in the economy and in turn driving a sharp rise in recruitment.

“However, it’s concerning that we’re seeing a drop in candidate supply due in part to applicants needing support to adapt their skills to move from displaced sectors to those where there is more demand, such as health and care, and because the furlough scheme has reduced the pool of workers.” (KPMG Report on Jobs)

What are candidates looking for?

For candidates, it is not only about the salary and location of the role but the package as a whole. If they are going to make a move they will also be looking at cultural fit and company values. Savvy candidates will be checking your social media channels, website and employees all of which speak volumes about your brand.

The pandemic has created profound changes in workplace preferences for job seekers, including the desire for remote work. Per the Job Seeker Nation Report, 35% have declined or would decline a job offer that required them to work full time on location, in an office, or at a worksite, and 100% remote work is preferred by 33% of workers.

Despite an increasing number of employees working remotely, the importance of company culture in applying for a job has continued to rebound. Nearly half of workers believe company culture is very important in their decision to accept or reject a job – a 21% increase since 2019.

Employers need to implement a hybrid and culture-centric work environment to lure top-quality talent. Likewise, talent leaders must incorporate these company values into the hiring process. This can be accomplished by implementing a cohesive recruitment marketing strategy that includes social media, as more than 33% of job seekers use social media networks to learn about an employer’s culture.

What can employers do?

Now is the time for businesses to evaluate their employee proposition as we transition into the post-pandemic workplace.

With the end of restrictions insight, increased confidence will see a spike in employee’s changing roles. There has been a temporary shift in employee mindset during the pandemic; job security has become more valued than job satisfaction. However, as we move into the next step of the Government’s roadmap, employers must turn their attention to how they can retain talent when employees become confident about the security of employment and focus again on job satisfaction. Employers must prepare themselves for the fact that demand for talent will increase rapidly in the coming months, resulting in aggressive hiring and a rise in salaries.

A strong employer brand can help businesses to attract and retain top talent. All organisations have, consciously or otherwise, an employer brand that helps to distinguish them from the crowd. It’s not just about the logo and the colours, it’s about reputation, beliefs, and how the brand makes you feel. Employees are fantastic advocates for the employer brand as their brand confidence is the best marketing tool you have. Employees will spread the word on their experience far and wide. If employees do not believe in the brand, then businesses will lose top talent, struggle to attract target audiences and see a detrimental impact on the achievement of the company’s business plan.

The employer brand is the identity of a company as an employer of choice. Establishing an internal and external employer brand requires an understanding of both employees and the company’s needs and desires. You must think both inside and outside of the company box to consider when working on your value proposition. Satisfying current employees as well as getting the attention of new talent is key.

Now more than ever, it’s important that you partner with an agency that not only understands the current job market, but understands your company values. RedBox Recruitment specialise in permanent recruitment for engineering, manufacturing, office support, accounting & finance, sales, marketing, and IT. Feel free to get in touch today!

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