The severe candidate shortage is continuing to affect businesses up and down the country. Despite demand for workers increasing at the fastest rate in over 23 years, candidate availability is declining at the fastest rate since May 2017 (Personnel Today).
Greater demand for staff, fewer EU workers and a general skills shortage have been cited by recruiters as the cause of this reduction in candidates. This has a knock-on effect across businesses as they are now all recruiting from the same talent pool. Therefore, the need for differentiation and selling your business is more crucial than ever to find the best candidates.
Lauren Ellison, Head of Four Business Support, offers five suggestions that we advise our clients on to improve their recruitment process and support them in hiring the best staff.
Of course, it is always important to have a slick recruitment process but in the current market, it is also essential that it is streamlined and speedy. For the first time in history, the UK has over 1m vacancies (The Independent) which means that candidates have the power in their hands.
If you aren’t able to expedite the recruitment process quickly and effectively, then it is likely that your candidate will have several other options on the table and will opt for them over you.
It is worth reviewing your salary package as wages have seen a sharp increase due to the lack of talent available. (Business Live). If you’re not offering a competitive salary, then you are already putting yourself at a disadvantage.
But, luckily, it’s not all about the money. Now more than ever, it is essential to offer candidates a varied and broad benefits package. It is worth considering flexible/hybrid working, mental health support and childcare options as these are all offerings that candidates value when considering a job offer.
In the current market, it is vital that you understand the need to broaden your requirements in order to find the right candidate. In the past, you may have been able to find someone over-qualified for the minimum salary but now, that’s just not the case. You need to be flexible and look for potential rather than a list of specific requirements.
The interview process needs to be an enjoyable experience. Candidates are likely to be interviewing at several different businesses and will be comparing their experiences - you want to ensure yours stands out for all the right reasons.
It’s important to remember that the interview itself is a two-way street and you need to allow time to sell your business, your culture and your benefits to the candidate and what makes you different as an employer.
Finally, if you find the right candidate for you and your offer is accepted, it is essential that your communication and contact leading up to their start date is consistent. No matter what their notice period, there is plenty of opportunity for their current employer to make a counter-offer or other offers to be made.
You need to ensure that communication continues throughout this time and that you support them in their transition. You could invite them in to meet the team or have a tour of the office. This will help you to stay front of their mind and maintain their excitement about starting.
At Four Recruitment, we specialise in supporting clients with their talent management and ensuring you find the best candidates for your business. We'll support your throughout the entire hiring process to ensure you have a competitive edge in this very challenging market.
If you are interested in working with us to support your recruiting process, you can learn more about how recruitment agencies work in our detailed blog.
If you are currently recruiting and think that you would benefit from some professional guidance, get in touch with our team today to find out how we can help you to find the right talent and grow your business.