Is Recruitment in Crisis?

The latest jobs recovery tracker from the Recruitment and Employment Confederation (REC) showed there were 1.66 million jobs on offer last week – an increase of 193,000 over the past seven days alone.

Link to https://news.sky.com/story/furlough-schemes-end-unlikely-to-dent-record-worker-shortage-recruitment-sector-warns-12397519

So why are businesses finding it harder and harder to hire?

The accumulative impact of Brexit, the COVID-19 pandemic and the associated furlough scheme has created a quagmire for the recruitment industry. With more vacancies than candidates and a post-pandemic change in attitude to flexible and hybrid working, job seekers can now be more selective about the role they choose to take. Many are looking for a greater work/ life balance, greater flexibility, and increased scrutiny of the workplace culture and benefits.

This month’s blog offers some recruitment tips to help get you through these unprecedented times.

Employee retention

According to Glassdoor, the average employer spends £3000 and 27.5 days hiring a new staff member.

Link to https://www.glassdoor.co.uk/employers/blog/calculate-cost-per-hire/

Therefore, arguably the most straightforward tactic is strengthening your company’s retention strategy to retain the staff you have. Having a solid employee retention strategy will also attract prospective candidates for new roles.

Continuous Improvement

Train your existing staff to move into more experienced roles in the future. This means, when it comes to recruitment, you can backfill lower-level positions to recruit more cost-effectively.

Planning

As your business expands and grows, anticipate your future resource needs. If you know an employee is leaving, don’t leave it until the 11th hour to start your recruitment campaign. Ultimately, planning ahead and being adequately prepared will make your recruitment campaign more streamlined and effective.

The Role

As mentioned previously, with the power of choice in the candidates’ hands, the package you are offering needs to meet the expectations of the current market. For example, can you offer flexible working? Do you have an Employee Wellbeing Scheme? What are your employee perks? These will all be under inspection and will determine the calibre of candidates who apply for the role.

Before his death in 2020, Tony Hsieh was a visionary business leader and the CEO of Zappos. In 2010, as part of an interview series by Business Insider, entitled Inspiring Performers, Tony Hsieh estimated that his own bad hires had cost his company Zappos over $100 million.

Link to https://www.youtube.com/watch?v=9C36EYM-mWQ

By working with an external Recruitment partner, you are investing in a dedicated professional who has the right time and tools required to find a candidate with the right skills and fit for your company.

For help and support, CareerJuice offers a range of services to help you source the right talent for your business. To learn more, give us a call on Tel 01904 437567 or 01480 595290.

 

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