As a hiring manager in the market right now, you would be forgiven for thinking that there is a mountain of available talented professionals out there just waiting for your job advert to land in their inbox. However, in some cases, the market may not be exactly what you are expecting (see our market update here). We are seeing the numbers of what we would call ‘active’ candidates drop and the market becoming increasingly passive.
What do I mean by that? Well, for many of the professionals on the market over the past year, the priority has been to retain or secure opportunities for job security and a good deal of them have now anchored themselves and unsurprisingly, have limited appetite for risk.
The increase in market activity is also driving a more competitive landscape, particularly in those sought-after digital skills. Standing out is crucial to attract the most talented people, it is vital that you make an impactful first impression and put your best foot forward when it comes to reasons why they should consider your opportunity above any other.
We are seeing that right now candidates’ perceptions of value are changing, whereas priorities would have been salary and the opportunities within the role itself, increasingly focus has shifted towards job security, flexibility, strong benefits package and wellbeing.
The increase of active employers means greater competition. Add into that, risk adverse candidates and you have a really interesting and challenging market.
There are clear trends in candidate drivers. Here are our top five attractors for the market right now:
- Flexibility - it will come as no shock to you that hybrid working is top of the list. Candidates are looking for autonomy and to continue some of the lifestyle opportunities that have come with lockdown home working.
- Security – longer paid notice periods throughout probation is one way of providing confidence that if things don’t work out there will be some financial security.
- Wellbeing – employee assistance, mental health first aiders, health benefits – with the year we’ve had, looking after ourselves must become a priority. Employers with enhanced offering in this space are highly valued.
- Office life – encouraging team back into the office has been high on the agenda for most organisations. If you’ve bought that new coffee machine, providing meals, created a dog friendly area… let candidates know. Soft benefits go a long way.
- Holiday, pension – what people look for here is GENEROUS. Even just going a little above the normal makes a valuable talking point. Perhaps offering birthday day off, free pension advice or increases built into long service.
What are your thoughts? Are your benefits enough to attract a risk adverse candidate and stand out in competitive markets?
For up-to-date information on benefits best practise, get in touch with the team today!
Have your say… we believe rewards and benefits can make a significant difference when it comes to attracting talent right now. Let us know your thoughts by filling out our snapshot survey.