Get set to hire!

During uncertain times trying to run a business is far from easy.  The pandemic quickly forced businesses to re-assess their hiring plans, introducing hiring freezes and focusing their efforts on retention and efficiency. Continued uncertainty, organisational restructures and job losses have unfortunately become daily news in the business press.  

We may still be in the throes of this pandemic, but I would argue that now may actually be a good time to re-assess your workforce and re-consider your hiring plans.   The new normality is here and the future won’t be the same, but with green shoots of hope and recovery, it will pay to get ready early.

The current landscape

The latest KMPG and REC report highlighted an increase in overall vacancies at the beginning of December 2020, after a drop in vacancies in the months of October and November. Permanent jobs fell significantly but temporary billings increased at the quickest pace since October 2018, suggesting that the temporary market was providing short term solutions to businesses during these uncertain times. 

People still in work are naturally less likely to leave their current positions in the current environment.  I have seen candidates show a higher level of loyalty to their employers than in the past, and the desire to remain united during these unprecedented times has been pleasing to see.  

This can create a lack of candidate movement, and potentially prevents employers from securing previously achievable talent.  On the other hand, the number of candidates immediately available and open to new opportunities is higher than I have ever seen during my 20+ years within the recruitment industry and that is an opportunity for hirers they are unlikely to get again.

Re-building the workforce

Most organisations have been working hard to support their employees and many have had to refine their structures in response to the new reality.  But as things settle down and we begin to work out how to operate in the new world I believe that now is a good time to start looking ahead and secure some of the great talent available.  Here is why.

You have access to a larger pool of available, highly motivated and talented candidates

Some sceptics will say there is a lot of deadwood on the market, and that may be true to some degree.  But in reality, there is an unprecedented and plentiful pool of highly qualified and supremely talented candidates who are immediately available and itching to return to work.  They may also be financially more attractive than in usual circumstances, and are arguably more motivated to succeed than ever before.  I suspect that we will never see such a rich pool of immediately available talent again in our lifetimes.

You have access to a broader and potentially global workforce

Will we ever return back to five days a week in the office?  The pandemic has changed the operating model for many businesses.  Having a workforce within an hour’s commute of the office is no longer essential.  Businesses that proactively promote remote working / flexible working practices long term could have a significant advantage over their competitors.  Your next best employee could reside a long way from the nearest office.  It’s time to stop thinking local and start thinking global!

You have access to a thriving temporary/contract market 

A contractor could provide the perfect solution to bridge a gap in your talent pool.  Typically speaking they are highly qualified, output driven, and can quickly adapt to different working environments.  Many contractors have their own offices, are used to working remotely, and can hit the ground running.  I’m a huge ambassador for the contract market, and firmly believe that they should play a significant part in all hirers, arsenals.

You can get ahead of your competitors

No-one really knows when life will return back to normal, but the pandemic restrictions will ease at some point.  You can guarantee that when we edge closer to that, many organisations will begin to ramp up their hiring efforts, which will lead to fierce competition for the top talent.  Talent that’s available now may not be further down the line.  Why run the risk of missing out on some top talent?  We all know that hiring is far from easy - it’s time consuming, can be expensive, and is often stressful.  Spikes in the employment market will only make this more challenging.  

We all recognise the disruption and damaging impact that the pandemic has had on our organisations.  The future is still unclear, and this creates continued uncertainty.  However, there is nothing stopping companies taking a proactive approach and beginning to build their future talent pools.  Even if you’re not ready to recruit immediately, start making connections, engage with people, and build awareness of your business.  

Be open-minded to recruiting.  You may just find an individual who could make a transformational difference to your business – and possibly one that a year ago you didn’t even know you had a role for.