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Let's talk...Candidate Attraction

Client Advice

Let's talk...Candidate Attraction

Let's talk...Candidate Attraction

Let’s talk…Candidate Attraction

It’s a tough gig out there.

Whilst many people are still feeling apprehensive about moving from their current roles, there are jobs that need to be filled.

Totaljobs Hiring Trends states that the average time to hire is 4.8 weeks on average and 5.1 weeks for larger businesses.

The hiring process includes:

  • Writing the advert
  • Posting the job
  • Giving time for applications to be received
  • Reviewing CVs
  • Producing a shortlist
  • Sending them to the Hiring Manager for review
  • Booking interviews, usually for the following week
  • Interviewing
  • Reviewing interviewees
  • Arranging second interviews if required
  • Negotiating offers of employment

As fewer candidates are looking to move positions, this process can currently take much longer. It also means that candidates who are looking for a new role may be in the covetable position of having more than one job offer to choose from.

What are the reasons?

Job Security

Covid is still rearing it’s ugly head and has had an impact on the outlook of employees. Many are reflecting on their situation in life and deciding it is more secure to stay where they are rather than risk not passing probation in, or not enjoying, a new role. Until probation is passed, there may also be a cessation in pension contributions and, after this, a lower employer contribution until the employee builds up their years of service. By staying in the same role, financial responsibilities such as a mortgage, rent and bills won’t be exposed to any risk and pension contributions will either remain the same or increase.

The millennial generation are also getting to grips with a worse-off retirement forecast/ projection, with fewer final salary pensions available and large mortgages to account for.

Meeting candidate salary expectations

Owing to cost of living increases, candidates are seeking higher salaries to keep up with outgoings. Totaljobs Hiring Trends reported that meeting candidate salary expectations was among the top three challenges for finding the right talent and they are otherwise reluctant to move.

Counteroffers

Those looking to leave are being offered higher salaries and better benefits to stay. However, as a sidenote on this – for a while it’s ‘better the devil you know’, but statistics show that 90% of candidates who accept a counteroffer leave their role within 6 months. The reality is, if a candidate is looking for a new job because they were unhappy in their current role, a counteroffer of more money and benefits will only satiate that unrest for a short period before they start looking again.

 

As a company looking to hire, what can you do?

There are five main areas to cover when you are looking to recruit.

Review your offering

Check out the market and see how attractive your offer is. Go on local job boards and benchmark yourself against other companies and similar roles. Check out their wording, salary offering and benefits and see how they compare to your own. Candidates are looking at more than just salary now, including career progression, the working environment, flexible and hybrid working and the employer’s brand. If possible, improve your job listing to reflect, or improve on, the industry standard.

Don’t overcomplicate the application process

Consider times that you may have applied for a role. Was the cumbersome application process a turn off? Was it frustrating to fill in an online form that essentially mirrored what was already on your CV? Relying on burdensome application methods with an array of lengthy forms to fill in, covering letters to write and endless screening questions to answer can put people off applying and prevent access for several disadvantaged groups.

Although these stages might have relevance for candidate selection, think about how you can do this differently. If you can make the process less complex you may immediately set yourself apart from the competition.

 

Work with a recruiter

We know, we know, we’re a recruitment company, of course we’re going to say this. But the reality is, we can access and contact a wider pool of candidates from a huge range of sources and we are also able to shortlist quality, great-fit candidates to save you time and energy. We can also help you benchmark your job listing and make sure you are competitive in the market.

 

Move quickly

Good candidates are lost because the hiring process takes too long. Select your candidates for interview within a day of receiving their CV and book their interview as soon as possible. Consider: is a second interview necessary? A third? If a second one is, schedule it in as quickly as possible after the first, no more than a week. And get ready to make an offer within a day after that.

 

Expand your net

This could be the key to finding your next greatest asset!

Firstly, take a look at your minimum requirements. Are these necessary? Here are some examples we have seen before:

  • English speakers only
  • Minimum 3 years’ experience
  • The candidate must have their own transport
  • The candidate must have minimum skill requirements of X, Y, Z

These high bars can wipe out a large proportion of keen, willing to learn (and work) candidates.

Some examples and possible solutions include:

  • School leavers, graduates and those seeking a career change are often excluded in terms of a minimum term of experience or skill asset criteria.

This candidate pool can be moulded/trained to become exemplary employees who repay an employer’s investment and trust through loyalty and productivity.

Also consider:

  • People who are out of work. Don’t write someone off because they aren’t currently working or they have an ‘open to work’ banner on their LinkedIn profile.
  • Mature candidates. There is an endless source of talent and experience to tap into in the older generation. A boost in confidence may be all that is needed to unlock a wealth of knowledge and a fantastic work ethic for your business.

For more information on how RE Recruitment can help you, contact us today on 01242 505400.

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