A recent report by the Recruitment and Employment Confederation (REC) found that nearly half of UK employers who make permanent hires are concerned about the availability of candidates this year.
In Recruiter last week, director of policy for the REC, Tom Hadley, was quoted as saying: “with near-record numbers of vacancies in the UK labour market (848,000 for September to November 2018), and candidate availability tight, the challenge of finding the right staff is set to intensify.”
The report says uncertainty around Brexit and the economy is largely to blame and suggests a high employment rate and an increased desire for job stability has lowered the volume of people seeking to move jobs, creating a dire skills shortage.
In spite of this, in Gartner’s recent Global Talent Monitor report 23% of employees expressed a low intent to stay with their current employer, a 13% increase from last year.
What’s no doubt making this an enticing option is the prospect of more pay. The demand for workers has led to the fastest increase in wages since July 2008, 3.3% year-on-year. We’ve seen first-hand that qualified finance candidates are among those who now come at a premium.
With less talent available, existing talent at risk of leaving and the likelihood of having to pay higher salaries, it’s no wonder employers are fretting. If your business success depends on your people (and whose doesn’t?) you need to be confident that you can attract and retain the right employees.
The good news from the REC report was that many employers are willing to invest in hiring in the coming year. But, with fewer active jobseekers, they will need a different approach to recruitment, one that incorporates the following:
We’ve long said that some of the best candidates are those who aren’t looking – otherwise known as ‘passive’ candidates – and it’s never been truer than now.
Tapping into this market requires a comprehensive search process and additional resource, but it will be more than worth the effort. You can read more about why prioritising the passive will deliver the talent you need more quickly and efficiently in our Business News Wales article.
The Confederation of British industry (the CBI) found nine in ten businesses say that Brexit has hindered their capacity to recruit and train staff this year. Although it takes time and effort to manage talent, it takes far more to replace it. What’s more, improving your development opportunities can strengthen your employer brand making it easier to attract new employees.
As part of our service, we’re pleased to be able to help clients identify opportunities to develop their existing talent and advise them on how best to fill any skills gaps. You can read more about the importance of talent management for retaining clients in one of our earlier articles.
If it’s harder to recruit someone with the right skills and you’re likely to have to pay a higher starting salary to attract them, it makes sense to get the appointment right first time.
One of the reasons direct adverts don’t often work on their own is because they only tell a very small part of the picture. A good recruiter is much better able to give the candidates a true insight into a business’ culture and bring the role to life. This allows the candidate to make an informed decision as to whether they are a good fit for the role or not.
Partnering with a reputable recruiter who can invest the necessary time in screening candidates, has built the all-important connections, and takes the time to understand your unique business challenges is a sure-fire way to make this happen.
If you’re concerned about the availability of candidates, take the first step towards securing your workforce in 2019 by getting in touch with us today.
The process was thorough and very individual – time was spent finding out about the culture and style of the organisation and the exec team. Sitka worked with the candidates well to find the best fit for both employer and candidate. There was a sense of strong relationship building to ensure that this happened.
The experience of working with Sitka was really enjoyable. It was like talking to a friend who knew all the answers to my future career.
I was thrilled when I was offered my new job, which I felt was down to Sitka’s support and proactivity. Karen kept in contact and made sure I was happy in my new role. This personal and professional service is second to none. I would highly recommend!
I thoroughly enjoyed communicating with Karen and having her represent me. Karen was very hands on and made me feel very informed. Therefore I was able to relaxed and feel at ease during my interviews.
I have always dealt with Karen and have found the recruitment process generally excellent. The calibre of candidates has always been strong and the candidates also show enthusiasm towards the job and company they are interviewing for. I am very happy with the service we receive from Sitka and we have always appointed from the first round of interviews.
The whole recruitment process, led by Karen, was a really engaging and positive experience. I can honestly say it was the best interview I have ever had!