Since Covid-19 hit, nothing within the final yr has been predictable – and this consists of the recruitment market!
As we hit the one-year mark since lockdown, we’re all nonetheless making an attempt to maintain up with what’s occurring in recruitment and align our methods to the newest modifications.
So that can assist you plan your technique as we transfer out of the pandemic, listed below are 4 issues occurring within the recruitment market proper now that you just may not count on.
1. Some markets are nonetheless candidate brief
I spend a number of time talking to recruiters, and one thing that’s actually stunned me just lately is that– regardless of unemployment being at a five-year high – some industries are nonetheless struggling to seek out candidates.
Industries like tech and healthcare have seen job numbers increase, however candidates in these markets are too skittish about Covid-19 to maneuver. This mix has made these industries much more candidate brief than earlier than the pandemic.
And with authorities’s ‘green recovery’ plan we’re prone to see much more candidate shortages in markets similar to engineering, building and manufacturing.
In the event you’re recruiting in certainly one of these candidate-short markets, you may nonetheless make placements. Reassure your candidates that now is an effective time to maneuver jobs because the market is starting to stabilise.
2. CFOs are optimistic proper now
In response to a decades-long survey of CFOs by Deloitte, enterprise optimism is at its highest since 2007.
Because of the vaccine roll out and predictions of financial development in 2021, CFOs within the UK are apparently extra optimistic that they’ve been in years.
This restoration has been driving hiring calls for, with our Job Stream Index displaying robust development within the variety of jobs created and adverts posted within the first months of 2021.
And it appears like this development is ready to proceed: Virtually 30% of CFOs reported plans so as to add new services or products or increase into new markets this yr.
This constructive outlook of the economic system is nice for our business as it’ll encourage companies to rent and provides us all some jobs to fill!
3. There are extra passive candidates than you assume
Candidates may be hesitant to maneuver jobs proper now, however that doesn’t imply they wouldn’t like to vary roles. In reality, analysis means that 41% of UK employees plan to vary job inside the subsequent 12 months!
Greater than half of these planning a future job transfer say their firm didn’t adequately assist them throughout the Covid disaster.
And the variety of candidates trying to transfer is ready to extend even additional: Round 25% of employees have stated they’d search for a brand new job if their employer scraps distant working after lockdown.
So meet up with your candidates now and discover out which firms are prone to lose workers within the upcoming months – you could possibly begin filling your pipeline with a stream of hard-to-find candidates.
4. Candidate backouts are an actual downside
On this job-short market, you’d assume that candidates can be much less prone to flip down job affords – however in follow, the alternative is true.
With fewer jobs available on the market, candidates are making use of to every job they see – even when they’re not that within the function. When these candidates get to supply stage and realise the job isn’t actually proper for them, they again out final minute.
In the event you’re combating backouts proper now, you’re not alone: this weblog will present you some methods to guard your pipeline from these dangerous candidates.
In the event you’re making an attempt to remain updated on this fast-changing recruitment market, our Job Stream Index report provides you the newest information from the recruitment market each month. Obtain it under.