We are a couple of months into 2016 and the candidate is in control.
It seems, for the first time, recruitment services do not hold all the power when it comes to the recruitment process and recruiters are having to work harder and smarter to grab the attention of talented individuals.
In 2015, 77% of candidates turned down job offers they received through recruiters and almost half of candidates did not accept the first offer they received, according to CV-Library’s Mike Powell.
The question is why?
Current job market
2015 saw an increase in job creation and as we enter 2016, the growth does not seem to be slowing down.
Whilst there is still a concentration of jobs in the capital, cities like Bristol, Leeds, Manchester and Birmingham have also shown a significant increase in available jobs.
The result? Candidates are enjoying a booming market and talented individuals with the right skillset are expecting to receive more than one job offer during their search.
Changed priorities
A recent survey by CV-Library showed that 26% of people wanted greater development opportunities while 21% of people looked for a better work/ life balance when considering a new role.
Only 14% of people claimed to choose one job over another because of a competitive salary. The key indicator here is that salary is not the strongest motivation when individuals are looking to make a career move. Instead, greater professional and personal fulfilment are the new driving factors.
Technology
With two-thirds of the UK’s population now owning a smartphone and spending an average two hours a day on the internet, it is clear that as a society, we are used to having information right at our fingertips.
Due to this ease of access to data, candidates are more likely to actively seek out information on prospective employers.
According to a survey by Glassdoor, 75% of jobseekers say they ‘value reviews and ratings from employees at a company’ when considering a potential role.
This reinforces the view that candidates are looking for more than just a good salary: reviews and ratings highlight the company’s culture, perks and the standard of their development and training.
“The war for talent is over, the talent won.” – Recruitment guru Josh Bersin
What to expect from 2016
With these changes in attitude and environment, will 2016 bring any changes to the recruitment process and what will agents need to do to keep in the game?
A combination of current job market conditions, a change in attitudes and increased access to information means candidates have become noticeably pickier when it comes to evaluating career opportunities.
They know they have the power and prospective employers will need to continue to offer talent more than just a good salary to entice them.
While benefits ranging from private healthcare to company cars and incentive trips abroad for top performers will prove attractive, more intangible factors like having a degree of autonomy, being a good fit with the company culture and a belief in the firm’s ethos will increasingly come into play.
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