Unemployment is around 4% in the UK, the lowest it has been in over 40 years. This is due to a range of factors and has resulted in an ever-growing candidate driven market. No longer are employees spoilt for choice when they advertise a job, the talent available that are actively job seeking is diminishing and skilled candidates are at a premium.
According to LinkedIn, 70% of the global workforce is passive, happy in their roles and not looking for a new job. This talent pool is often the calibre of candidate employers are seeking, and luckily, just because they aren’t active, doesn’t mean they aren’t interested in hearing about new opportunities. However, to engage with talent is becoming increasingly more challenging; competition is rising, demand for talent is increasing and candidate’s are constantly changing their habits.
To engage with passive talent – the majority of professionals – new strategies need to be implemented. To gain their attention, detailed research needs to be done to uncover what engages and interests them: where are they actively looking? What really motivates them? What salary is attractive? The list goes on. To assist, technology has delivered a whole host of real data which is invaluable in ensuring your approach is the most applicable.
Across (almost) all markets, candidates are looking for more from employers and their motivators are changing. They want forward-thinking businesses, flexible working, clear career progression, personal development opportunities, and a business that has strong values, upholds their environmental responsibility and boasts an engaging culture, amongst much more. It has never been more crucial for employers to build their brand and develop internal structures and procedures.
In addition, candidates expect a fast and responsive process. Employers are having to make faster decisions and streamline recruitment processes to not lose out to a competitor and maintain engagement: this is where having a recruitment partner is vital. Technology can be utilised to assist and speed processes through skype, automated emails, chatbots, social media engagement, psychometric testing, apps and voice search, but ultimately, a personal touch is essential in order to achieve real engagement.
The developments in technology allow a much wider reach, further detailed information and fantastic visibility opportunities. However, the human component is absolutely crucial. To achieve candidates expectations of a personal process, quick responses and one-to-one support and advice, technology cannot be solely relied upon. Candidates need to discuss motivators, personal factors and ambitions to be confident and comfortable making a career move – especially if they are not actively looking to change jobs. To have a successful recruitment process which will hold longevity – trust is needed to be built and personal interaction is essential.
If you want to discuss the market, the talent available, salary levels, new job opportunities or require any assistance with a vacancy, please get in touch!
Isabel Ruiz Halter: +44 (0)20 8629 0643