The double bounce is coming for recruiters.
Joel McInnes
Making Sustainability A Strategic Advantage For Your Business | Sustainability & Climate Consultant | Chief Sustainability Officer at Sustain 2050
On Monday 1st February 2021, the recruitment market will have its traditional post-Australia Day reopening.
Only this time, it's going to be VERY different. Crazy. Nuts.
The jobs market in Q1 will bounce hard, and be busier than any of us have ever seen for three reasons:
- Pent up demand. 2020 has been a year of hiring freezes, and for good reason. When the world blew up back in March, no one knew how anything was going to play out, and the hunker-down mentality was a natural reaction. More recently, businesses have been designing what their new normal is going to look like, clearing the way for the resumption of growth plans. And that means hiring needs to catch up.
- A talent-rich market. Throughout 2020, over one million Australians lost their jobs, and while some of those have found new roles since the July lows, there are currently 960,000 Australians out of work, more than at any time in history.
- Restricted team sizes in talent acquisition. Unfortunately, talent acquisition teams were some of the hardest hit in the recent rounds of redundancy, with several teams I know having lost up to 80% of their team members. Experienced hires, grads, exec level were all hit hard - with, perhaps, a short-sighted rationale of 'why do we need recruiters during a hiring freeze?' However the market for TA professionals is now very buoyant, with examples of senior roles at other companies including CBA, Macquarie Group and PepsiCo becoming available.
No matter what industry you're in, you may find yourself with a record number of jobs on, and a record number of applications to each of those roles. Compared to 2020, it's a good problem to have, but a problem nonetheless.
Here are four things that TA teams can do to prepare for the onslaught.
- Reshape your employer brand to reflect the reality of working in your organisation in a new normal. Almost all businesses in Australia have changed the way they work since the onset of COVID19. Given an employer brand is how talent perceive your organisation, and your Employee Value Proposition is "the promise of your lived experience when you join the organisation", then brands and EVPs will need to catch-up to more accurately reflect the new normal in the eyes of talent, and how your organisation has shifted. We know from our own research here at FlexCareers, that the three critical pillars a future-focused EVP needs to speak to are: health & safety, flexible working and the learning value proposition at your organisation.
- Rebuild your team - there are some great people on the market. Some of them may have worked for you in the past. You'll need them in Feb.
- Reload your good-news stories NOW. In a busy talent market, you'll need good quality story-telling to stand out from your competitors. Build your library of on-brand messages to release in a purposeful, targeted way in the new year. Your hiring managers will thank you for it.
- Re-engage with your talent pipelines. Remind them of who you are, your purpose and your values, BEFORE you are looking to hire them. Social media, content and having a trusted partner speak on your behalf are all important parts of a successful strategy.
The jobs market that's coming in 2021 will be unlike any we have faced. Get ready, we're all going to be VERY busy.
If you'd like to know how FlexCareers can help put your brand in the best position to secure all the top quality talent that you'll need, we'd love to connect.