That’s the question I’m constantly being asked by clients at the moment! Frankly, there are a number of answers.
Talent shortage: There is no doubt that there is a shortage of talent in the property market across several different sub-sectors. But it’s not just the property industry, it’s a nationwide and grand scale challenge.
If you're recruitment and hiring strategy is the same as it was 10, 5 or even 2 years ago, then I'm sure you probably fall into these statistics quite nicely. The working world has changed and we either change with it or get left behind.
What can we as employers do to bring a talent shortage to our advantage? (below are some ideas)
1. The Employer offering: Firstly, those that stand out (for the right reasons) are those that are succeeding at reducing time to hire. Spending time to identify the key reasons people leave their current job is a great starting point to improving your employer value proposition.
Some of the most common reasons for leaving we hear are:
Introducting flexible working patterns is proving to be a massive pull (even over salary). We have to realise that our workforce’s attention is not always at work and if we can therefore show support to the things they do outside of the office by allowing them the time to do those things it can buy so much more attraction and once in the job.... loyalty! Time to ask yourself; What are you doing in order to stand out?
2. The Recruitment Strategy: Do you even have a strategy? For example: Which talent pools do you target? How do you penetrate those talent pools? When you have a potential candidate what is the journey or experience you take them on? And finally how can you continue to improve this recruitment process? If you don’t yet have a strategy then spend the time to come up with one or better yet get in contact with someone who can help you devise a strategy. Some try to do this by instructing a recruiter however that leads me onto the final reason a job may go unfilled...
3. Recruiter engagement: Just instructing a recruiter is not going to solve your problem. Especially if you’re instructing high volume, low fee recruiters. If you are working with a recruiter on a no-win = no-fee you cannot always expect to win. Why would you, you’ve not paid for anything why would you expect a result? It’s pot luck for you and it’s hit and hope for the recruiter. The obvious benefit of using a recuiter on this contingency basis is that there is no upfront investment from the potential employer but that's also the obvious negative.
There’s no upfront investment, so why should there be any expected result? There’s also no expected loyalty: if there’s no investment there is no obligation to fill your job over another client. Let alone actually spend time pro-actively going to your target market to speak to the talent pools your recruiter may have exclusive access to.
But what if you could change this? What if you could engage the interests of recruiters with proven track records of filling vacancies? You can!
Engagement fees and retained search offerings will reduce time to hire because employers are choosing to invest in their recruitment partners in order to buy their time, focus and consultancy attention, thus yielding the results.
If you’re choosing to use a recruiter then additional engagement from you is guaranteed to increase the quality of applicants you see and reduce the time to hire, after all once you make an early investment the obligation is now on the recruiter to perform.
We’re happy to talk further about the issues companies are facing when it comes to hiring so reach out and talk to us. Better yet, let’s meet to evaluate your employer offering, your recruitment strategy and recruiter engagement over a coffee.
Call Dove & Hawk today on 02077175505, alternatively drop us an email on firstname.lastname@example.org and one of our consultants will be in touch.