The market this year has really taken off with a bang and there is a lot of confidence in the economy at present. We are seeing good candidates being snapped up very quickly and we are even starting to see candidate shortages in some areas.
It has certainly been an education piece for those clients that maybe haven’t recruited recently, or really need an understanding of how quickly the market is moving.
Whilst this increase in demand for accountants and other disciplines is encouraging, there are a few challenges we, as recruiters, and our clients are facing in trying to secure the best candidates. Here are some tips to achieve the best outcomes:
- Make sure you know exactly what the recruitment process will entail
Will it be one interview, two, three?
In addition to reference checks, will there be Psychometric testing/ Medicals/ Police checks?
- How long will this recruitment process take…and speed it up!
In a market where there are multiple job opportunities, it is important that we know how long this process is likely to take. Candidates that are interviewing for multiple roles won’t last long in the market if the recruitment process is too lengthy.
- Interview candidates and make decisions quickly
Clients that are taking too long to interview or long breaks between first and second rounds are finding that they are losing candidates to other companies and even competitors.
- Offer salaries that are fair yet competitive
Know your industry and what the salaries are for these roles. Don’t offer a lower salary than what the candidate would expect. It really doesn’t work, and candidates will have multiple offers to choose from. It also doesn’t paint the company in a good light offering less than their asking salary.
- Know your candidates, and make sure you are well informed if they are considering other opportunities
This is vital to the recruitment process. The last thing anyone wants is to progress with a candidate and to then be told they have just accepted another role! Find out what other opportunities they are looking at and keep the company informed so they can act more swiftly.
- Ask your candidates…if they were to be offered two roles…which one would they take?
This is key information in getting to know your candidates and what their drivers are.
- Consultation is key!
It is our job as consultants to our client, to let them know what the market is doing and how quickly candidates are accepting roles. If the recruitment process is going to take too long…advise the client! They will lose the best candidates if they don’t act swiftly.
Let the client know if candidates have multiple opportunities.
If the salaries aren’t what the market is paying, advise the client! In order to attract the best staff, all of the market conditions need to be satisfied eg, salary, career path, training, mentoring.
On the flip side, candidates need to be educated about what the market is doing and the salaries that are on offer.
In many instances, because of this supply and demand, we are delivering permanent shortlists much quicker to our client, knowing that good candidates will be snapped up in the market.
It has been difficult in some areas to secure short term contractors as they are being presented with a number of permanent interviews. The clients that are able to hire people straight away for either permanent or a contract to permanent opportunities are proving to be the winners in the market at present.
These are very exciting times for us and our clients. As long as candidates and clients are informed about the recruitment process, things should run according to plan.