Dan Barfoot, Operations Director at local recruitment firm, CMD Recruitment shares his insight.
We are all aware it is a very candidate-driven market. According to the BBC, UK unemployment is at its lowest rate in 48 years. The lack of available candidates or labour shortage leaves employers struggling to recruit.
Currently, candidates are in the driving seat. They have a choice when it comes to employment opportunities.
So, what is attractive to candidates?
At the centre of it all is wellbeing.
FINANCIAL WELLBEING – overall compensation, pensions, financial wellness, and education
MENTAL HEALTH WELLBEING – employee assistance program, mental health apps
SOCIAL WELLBEING – company culture, work-life balance, diversity, and inclusion
PHYSICAL WELLBEING – private health care, availability of exercise sessions
CAREER WELLBEING – access to training and development, an opportunity to progress
Once you have understood what is attractive to candidates, you need to determine the aspects of your business that people value the most. Align these and you will get a clear sense of what your business embodies and how best to attract candidates.
Flexible working is the No.1 benefit employers can provide. Although, it’s not only about the employees. CIPD states that flexible working can also lead to direct and indirect business benefits. Such as savings on office space (reducing energy prices). It can also allow businesses to have resource demand outside the traditional 9-5 working pattern, serving customers on a 24/7 basis. Indirectly, flexible working leads to higher employee job satisfaction. According to research conducted by Sage, flexible workers who are generally more satisfied with their job and work-life balance are more committed to the business they work for. Additionally, flexible working reduces absence rates and pollution by minimizing travel to the office.
Nonetheless, a change in the market is coming. A recession usually puts candidates back in the market which could put employers in the driving seat. The more candidates, the more choices employers have. Allowing employers to dictate market changes.
However, those embracing a strong employee value proposition will always remain the attractive employer for candidates.
Here at CMD Recruitment, we are always up-to-date with the employment and recruitment market for changes, trends, and forecasts. We like to help our clients be prepared and consult them on how to attract top-tier talent.
If you are looking to recruit currently, at the end of 2022, or early next year, get in touch with our team. Let us provide you with additional recruitment support, market advice, salary benchmarking, and competitor analysis, so you know how best to add to your team.