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How can employers approach a candidate-driven market?

Recruitment practices have adapted and evolved throughout the pandemic to meet demands such as remote working and facing the skills shortage. One trend that is emerging in the post-pandemic landscape is the shift towards a candidate-driven market. For the first time in a generation, there are more roles than candidates leaving employers to decide how to best recruit in this environment.

While some employers may feel this leaves them with less bargaining power, like most shifts in recruitment it means that new strategies and focus are needed to attract and retain when hiring. While this demand can also mean an increase in salary, it also results in better retention of staff.

How can you approach this market?

1. Post job roles on multiple platforms. Increase the spread of your advert and the candidates who will view it at different locations. Don’t overlook the passive candidate market, LinkedIn and external advertising is one way of reaching those who aren’t currently looking for roles by being present online where they’re active and resonating with their long-term goals.
2. Streamline your hiring process. Speed is key to keeping candidates engaged in the hiring process. Make sure your process is thorough but fast. IBM’s research – The Far-Reaching Impact of Candidate Experience shows that “Job applicants who do not receive a job offer are 80% more likely to apply again if they already had a positive impression of the hiring organisation”. So, how your hire can be key to not only company perception but further applications.
3. Be transparent about roles. If you’re clear from the start about what is expected from candidates they can determine the key duties and perks and where they fit in. Candidates appreciate clarity in what is being offered and what is required from them.
4. Be clear in your company culture. Now more than ever candidates are looking for roles and companies that align with their values and care about their employees. So, show them how employee wellbeing fits into your structure. Having a clear message as part of your brand attracts staff who want to stay to help grow the business.

Try looking for new talent in new places and widen your search. By including international graduates who have studied in the UK in this pool you will not only increase applications but benefit from their skillset which included helping fill skills gaps in areas of shortage such as STEM (Science, technology and Mathematics). International graduates often have additional languages and cultural knowledge from studying abroad. Building a rich cultural workplace also helps businesses to improve employee engagement and drive innovation. For access to our database of international graduates from the leading UK universities and our jobs site, register with GradLink for free today!