How To Attract Talent In A Competitive Marketplace
The tables have turned in the candidate-employer relationship.
Where traditionally it was up to the candidate to impress the employer in the hope of securing a job, today the dynamic is very much two-way.
Of course, the prospective employee must demonstrate that they have what it takes to shine in the role in question, proving that they have the skills, experience and personality required.
But now the employer is also being judged, and must also impress the candidate.
How has this happened? Unemployment figures are the lowest since the mid-1970s and this has created a situation where, in many sectors and roles, demand significantly outstrips supply. Motivating factors have also changed. Where previous generations have sought little more than job security and a steady wage, today’s employee is looking for flexible working and career development.
Of course, a good salary and holiday package remains high on the list, along with a pension scheme and paid sick leave. But in a world where one in three people move jobs because they want a new challenge, it’s clear there has been a ground shift in the needs and wants of the modern day employee.
The result is that employers need to take a good look at how appealing they are to candidates if they are to attract the best talent. It’s the reason so many companies are putting more thought into their employee value proposition; essentially how they come across to prospective employees in terms of culture and rewards.
We put a lot of focus on helping clients to promote themselves and develop their employer brand as part of the recruitment process. Here are three tips for improving the way your business presents itself to candidates:
- Take a good look at your employer brand. Do you come across as a modern workplace where people enjoy their day and are satisfied in their role?
- Benchmark your salaries. Attracting the best talent means paying the market rate, not what you think is right.
- Extend the interview beyond the meeting room. Show candidates your offices and allow them to meet your team. Smiling faces and engaging colleagues are an excellent sell.
David Kitney, Managing Director, said: “We spend a lot of time talking to our candidates about what they are looking for from a role and what motivates them.
“We are finding that the statistics about supply and demand in the labour market are very much borne out by these conversations, with enjoying work and culture fit increasing in importance, although remuneration is still an important factor.
“Our advice to employers who want to attract the best talent is to stop believing that they hold all the cards in the recruitment process and to take a good look at how they are perceived as a potential employer and the package they are offering to candidates.”
If you would like access to the latest accountancy and finance labour market information report or to discuss your recruitment needs, call us on 01482 975960