Adapt, evolve and differentiate. Navigating the current recruitment markets…….

 4th Oct 2021

Almost 18 months has passed since the start of lockdown 1, and day to day life for many of us is starting to resume some patterns that we used to describe as ‘normal’.

For many, children are now back to school, working patterns are starting to become more defined, we can make plans to entertain or be entertained, we can travel, see family and the various questions around flexibility and working at home versus working back in our offices are starting to become clearer again.

This 18 month period of change has impacted most, if not all, of us in some shape or form. I can certainly vouch for that. What we want from our lives, and what and where we wish to invest in our work/life balance, our careers, our families, our homes will have crossed lots of people’s minds. What has become clear to me is that for many this has prompted some form of change or at very least a desire to consider the sometimes complicated equation we call life.

So, with all this in mind what sort of knock-on effects are we seeing from a recruitment perspective, and what should we be aware of.

Employers. The dial has shifted. Candidates are in the shortest supply that I can remember and certainly within the world of qualified accountancy and finance recruitment there remains a shortage of candidates versus the current demand. Particular note going to the interim and the newly qualified space. 

Competition for candidates is high, salaries have become inflated and counter offers are becoming more common.  At a time where candidates are thinking more and more about what they want from work, a working environment, and how this will fit in with their broader aspirations and requirements the best employers are going that extra mile to demonstrate more about what they can offer a candidate (culture, progression, flexibility) and this undoubtedly helps define them in a crowded recruitment market and can be a key differential in securing their preferred candidate.

Speed and efficiency of recruitment process, clear and regular messaging, sensible financial offers, and efficient pre-employment screening all make a difference and form a first impression. For some companies at present, feedback suggests they can sometimes confuse the values of a recruitment process over the personal experience of an applicant and this can leave a long-lasting negative impression.

Jobseekers. Remember flexibility has to work both ways. The market may be relatively generous at present but flexible working only truly works when there is harmony between the employer and the employee. For those that have multiple options, take your time to make the right decisions for you, try not to be influenced solely by money or titles, and definitely not by overzealous recruiters. Moving jobs is about so much more, about the experience gained, the culture you will work in, the people you will get exposure to, and the prospects that result from the move. 

Keep this front of mind. Wherever possible, set out your ambitions before you start your search,  discuss your options and invest your time in the recruitment processes that will ultimately progress your career aspirations. Ask questions, gain insight on culture, work/life balance, outlook, challenges, and on occasion be mindful of the recruitment process itself and the way the companies portray themselves and interact. Beware of words without actions and trust your instincts.  

Now is a great time to look for opportunities but also be prepared that it can take time to find the ‘right’ role. That time is always worth investing, and while it may be a ‘buyers’ market’, securing the best roles with the most attractive companies will still be competitive. Demonstrating your desire to secure a role, your interest in the business, its culture, your development opportunities, and a positive, flexible and energised attitude will still be vital in you differentiating yourself from your competitors.

And what of the recruitment market and us recruiters. Despite my obvious bias, I believe that the role of a good recruiter is never more important than right now. In a market where fine margins make the difference, a well-run recruitment process, with clear communications, positive and consistent messaging is essential in helping differentiate roles, employers, and candidates. Additionally, the extensive networks of candidates and clients built up, in our case over 20 years of recruitment within the accountancy and finance market, can make a tangible difference in the quality and diversity of candidate shortlists presented.

Our experience and expertise can add genuine value in a candidate’s job search, in helping you define and identify goals and preferences, in matching these to suitable and applicable roles, employers and hiring managers, and supporting you through the process itself with things like CV preparation, interview guidance and such like.

In a market where candidate supply is limited, adverts and simple word searches on databases rarely add genuine value to a search and often show only a tiny fraction of the available candidate pools. Our longstanding relationships with candidates and clients alike allows us unique access to a whole host of candidates that might be ‘passive’ searchers, rather than those that are actively sending applications to each and every role that arises. As such this allows us to present stronger shortlists, sourced from a wider and more diverse candidate pool, and in most cases offering our clients additional choices and options to consider in any selection process.

2021 has thus far proved a very positive year. Appetites for candidates to move is increasing and the demand for good quality people is high. We are even looking to recruit ourselves.

We are all adapting to new circumstances and in most cases are looking for slightly different variables in what we want from a future role, career, and in striking a new balance. This is our own personal evolution. Given the finely poised balance between demand and supply in terms of candidates and roles, it is vital that we all do everything we can to ensure that we differentiate ourselves, as employers, as candidates, and as recruiters and work together to achieve our common goals and aspirations.

For more information on how W&A may add value to you or your organisation, feel free to contact Guy Gracie on 0131 225 8030 or guy@wilkinsonandassociates.co.uk