3 months ago
I am sure everyone has struggled before when it comes to searching for a new role, complaining of having difficulty with finding something. Well, things have certainly changed over the recent years as it is now the employers who are the ones struggling more when seeking suitable candidates!
As a result of unprecedented challenges in the last few years, a significant one being the pandemic, most major industries have struggled to fill vacancies. The job market is currently being referred to as a ‘candidate-short’ one, and as the demand for talent increases, the supply of available candidates has rapidly declined. Talent shortage numbers have actually led to a record number of 78% of employers facing difficulties to fill them!
As restrictions began to ease post pandemic, there was a sudden rise in demand across all industries and many candidates had since become reluctant in seeking out new roles due to uncertainty.
This months Drapers subscription includes an article further explaining how fashion retailers are struggling to recruit staff due to European workers leaving the UK because of the pandemic as well as Brexit. Retailers are now learning that retention is key in solving today’s current staff shortage and are focusing on ways to keep staff on since the number of available candidates does not yet seem to be growing.
Organisations can effectively navigate and overcome the ongoing talent shortage by focusing on agility and flexibility.
How to drive applications during a candidate shortage:
With work-life balance being one of today’s key benefits which employees seek, this is definitely something which employers need to consider implementing if it is possible for the role, whether this be compressed workweeks, working from home, working remotely or flexible working hours.
Since many job seekers have been left feeling uncertain, they are looking more at company culture and benefit packages such as holiday entitlement and pension schemes.
Offer competitive pay rates:
With the market being extremely competitive, it is important to ensure the rate of pay being offered meets the average or above. Having annual salary reviews will also positively impact corporate culture as it shows employees that you value recognition and fair compensation. Also, it is an opportunity to discuss progression paths and expectations.
Leveraging these tactics are thorough ways in which organisations can differentiate themselves in the current difficult market.
From a candidate perspective, it is a great time to search for a new role, with many new opportunities becoming available every day!
Whether you are a candidate or client, we can help. We have a huge ever-growing database full of talented candidates, and many strong relationships with fantastic clients seeking new talent!
Read more regarding the staff shortage on Drapers: https://bit.ly/3FeCSsP