The current recruitment market is candidate driven. This means that as an employer it can be harder than usual to find the right candidate for your vacancy.
You will spend time finding the right ways of advertising your vacancy, time advertising the vacancy (and are you even advertising in the right places?), time reading through numerous CVs and then even more time booking interviews with potential candidates. Coupled with this is a new challenge to overcome: the candidate-driven market.
What is a candidate-driven market?
A candidate driven market means that there are currently more available jobs than there are available candidates. This current market suggests that the waves of hiring surges are bringing competition back to the job market as recruiters fight for any possible candidate, let alone the best candidates.
What is the impact for candidates?
If you are a skilled candidate, then this market is great for you. It means that there is plenty of work available and you do not need to be afraid of leaving a job you are not happy in. You hold the power and you will be likely to have your pick of a range of jobs within great companies.
What is the impact for employers?
As an employer in the current market, you will need to go to extra mile to retain talent and keep current employees happy. You will need to act quickly when you interview the right candidate for your business, or they could be snapped up by your competition.
Consider the additional perks and benefits available to employees and make sure the candidate is aware of these. Something like flexible working, for example, could really help with their goal of a better work/life balance and could ensure they join your business.
Why you shouldn’t delay hiring
Companies out there are looking to employ good quality candidates as quickly as possible. This means that the time candidates spend looking for a new job is shorter than it ever used to be. It also explains why you may have heard of competitors message users on LinkedIn directly; even if they are not looking to move on and are comfortable within their existing role.
If there is any form of delay or the candidate is not made aware of when they can expect to hear from you, chances are when you do offer them the job they will be employed elsewhere.
This will then result in the time and effort of recruiting starting from the beginning again. Alternatively, it could mean you opt for a below-par candidate as you need the vacancy filled due to time constraints or workload.
If you are a business in need of recruitment, we can help. Our agency has a list of job seekers ready to start the next step along their career path. We can also help improve your business recruitment process. Want to know more? Contact us today!