08 Jun Why Is Talent Currently So In Demand?
You would think given the amount of redundancies during Covid, that there would be an abundance of talent on the market, but is there?
Has your business tried direct advertising and received a really uninspiring response?
There are so many reasons why talent are sitting tight in roles even though they are probably ready to move on. It is without doubt daunting to look for a new role in a Global Crisis ‘but’ we are now 12 months on, and recruiting under these new circumstances and on-boarding new talent remotely is now the new norm.
When we went through the first lock down in March 2020 we saw the first wave of redundancies happen especially within the travel, tourism and hospitality markets, and also the effects of the qualifying period for the furlough scheme – if you started new employment early March a business was unable to claim furlough for employees, so a second wave of redundancies continued.
On a positive note research says quoting a recent survey published by ‘KPMG’
“The UK job market is starting to rebound off the back of the Government’s plan to ease national lockdown measures over the coming months, with the highest rise in permanent placements in six years and a sharp increase in temporary billings.
“This is good news for businesses, job seekers and the UK economy, but employers are still identifying a big skills gap across sectors including IT, construction and retail, with demand and supply not matching up.
Reasons why there is currently less talent available on the market?
Candidates are just not looking at the moment, and treading water until the economy and job market starts to pick up again
Employees are staying loyal to their employer for keeping them employed through the pandemic
Apprehension about leaving a permanent role and starting in a new team, which is more than likely to be remote working
Examinations for various qualifications were delayed therefore putting on hold future career aspirations
Talent who found themselves with no work in 2020 had to find new opportunities outside their sector to pay the bills, so attracting talent back to the worst hit sectors is proving to be difficult – 25% of workers had to switch occupations in 2020
Employees now expect flexibility, and to be able to work remotely – employers such as the food, transport, pharma sectors are all seen as key workers, and all employees have been on-site working in the offices throughout. Some candidates are point blank saying they don’t want to go back in the office full-time, now is this due to Covid or that they just don’t want to go back in to the office?
Recruitment creates a domino effect and with candidates staying in their current roles there is a lower churn of talent looking, but there are definitely new and exciting job opportunities out there as many businesses are continuing to grow
What can we do to change perceptions and give people confidence that searching for a new job now is the right time?
Statistics show that over the last 6 months the economy has had a boost and the stock markets have greatly improved, and continue to do so
Investors and PE houses are jumping on the funding train for certain sectors like fintech, on-line and ecommerce businesses which are making a big impact in this new World with technology businesses seen as fast growth sectors – this is creating new and exciting job opportunities for talent
Despite the pandemic many sectors are still doing well including transport, shipping, pharmaceutical, medical, food/FMCG amongst many others have been pandemic proof and are still extremely successful businesses who have continued to grow throughout
Most businesses are now working on a flexible working pattern a couple of days in the office and the option to work remotely if required. In my opinion remote working won’t last forever, being on site with your work colleagues is far more conducive to the growth of any business, and it’s human nature for people to be together which is good for mental health
Why using a specialist recruiter will help your business recruit the best talent during a Global crisis?
Faster hiring – recruiters already have access to a database of candidates and more reliable talent
Market knowledge – if you use a specialist recruiter your consultant will be able to advise you about the market, and if what your looking for is obtainable
Recruiters continue to track all candidates including individuals who are actively looking, passively looking, candidates who took roles during Covid to fill a gap, and candidates who don’t even know they are looking
Our Clients are also our candidates so we continue to network and keep our Clients updated on the market
So to summarise, there is much to be positive about if you are considering looking for a new job opportunity with lots of business investment happening. ‘However’ from an employer perspective the pool of talent is tight, and as discussed above there isn’t an abundance of talent on the market at the moment, so if you are thinking about recruiting the best talent into your business – what would normally have taken 3 to 4 months to recruit a role may take longer especially if you want the best talent, so decide when you want your new person in place and work back 6 months!!!