Dreaming a Reality...

Hands up, how many of us think about our work whilst doing routine things at home ? Great ideas whilst in the shower for example.. in my case, thinking of a good candidate to chat about a certain role. Coming to work this morning a dream I had last night vividly hit me. Often those dreams could be quite weird and wonderful, but this time it wasn’t weird… it was actually a decent reflection to the current state of our market. ?

The Dream?

Walking down the road with my brother, Ben, and I open my emails on my phone. A candidates CV. Nothing unusual there, quite life like. Open the email and read the attaching notes that accompany the CV. The dream is so vivid I even remember that the candidate was a Marine Technician with 3 years’ experience. ?

In the notes to me introducing themselves, they commented that their current salary was ￡32,000 looking for ￡80,000. ?

My brother was a few steps ahead and the pavement was busy. Where I was reading this email, I had lost him to the traffic of the people walking the streets. Weaving and bobbing in and out of said people I caught up to him to say: ‘Listen to this !! This is the state of our market !! Candidate here with 3 years’ experience, and they want ￡80,000 !!’ ?

The Reality?

Whilst my dream may have slightly over exaggerated candidates demands at present, looking back, it definitely stemmed from a conversation I had earlier in the day… and it’s a conversation I’ve been having for over a year now as this market continues to be candidate lead. These demands are real. We are totally in a candidate-driven market and 8 times out of 10 clients are having to pay 10-20% more in wages than two years ago or, in a recruiter’s nightmare, a counteroffer. ?

I have been on the end of some astronomical pay increases in both obtaining a candidate a new role and on the end of obtaining a candidate a counteroffer. In one instance the firm countered with a 48.8% increase. Which is a debate of its own… ?

A Solution ?

So, what do we do? Do we carry on this way, or do we look at ways of combatting this? The market surely cannot keep up with this demand. ?

Factors:

• Candidates have many options to choose from
• Niche sectors fighting over experienced specialists
• Certain markets rapidly growing increasing need for talent
• Larger pool of candidates wary of the global economy, rates, inflation so would rather stay put
• Flexible working, new ways of operating – suiting some firms/candidates, a nightmare for others

?I speak with many clients and different forums commenting on and discussing the benefits of choosing from a more Diverse candidate pool. But is this happening enough? And can we do more ? ?

Examples to our Market:

• Taking someone with Product knowledge who is keen to break into the insurance market and teaching them the Insurance element
• Taking a Property Broker into an Onshore Energy role
• Moving a Claims Specialist into a Client Executive role ?

I relate that to not only the Market that I recruit for but the market that I work in. There is a shortage. My most recent hire (of which I cannot wait to welcome and onboard mid-April) has no Recruitment experience, but her skill sets make her to be a sure bet - moving with the times and introducing new ways to recruit with an open mind with new fresh ideas. ?

Appreciate that this post’s a brief overview, I’d love to hear any views.?