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A candidate-led market refers to the situation whereby, due to various factors, candidates are in control of the employment process. Candidates are often in demand from multiple employers and can make demands on salary and working hours, among other things.

While this can be daunting to an employer, there are various advantages to this situation, and the challenges can be overcome with the right approach.

Candidate-Led Markets Are Here to Stay

Covid-19 brought job losses across many sectors. This created an insecure job market. This has now switched entirely. Companies have to work harder to entice new employees, and candidates have many more choices in whom they work for.

Fewer prospective employees are willing to relocate from overseas; many workers have either retired or left the workforce. In many positions, there are more vacancies than candidates, putting the control in the candidates' hands, and it looks as though it will be this way for some time to come.

Embrace The Benefits of a Candidate-led Market

If a company chooses to embrace the benefits a candidate-led market can bring, they are more likely to have success in employing the right talents for its recruiting needs.

A candidate-led market allows candidates to request higher salaries, flexible working hours and flexible working locations. A company that listens to its employee's wants and needs will have better staff retention and morale.

A benefit of candidates being able to make demands is that there is a stronger focus on mental health and inclusion within the workplace, which positively affects staff and therefore improves company productivity.

A company can choose to offer such benefits and ethos initially and make itself instantly more attractive to prospective employees.

Strategise To Encourage the Best Candidates

Recruitment strategies should be carefully considered to have the best pool of candidates possible. There are many ways to overcome the challenges of a candidate-led market:

- Ensure you have a fast recruitment process to decrease the chance of your candidate being offered something else first.

- Know exactly what you want from a candidate.

- Tell them when they impress you and let them know why you'd like them to work for you.

- Address any concerns directly and consider that other benefits such as flexibility can often supersede salary.

- Use your brand's ethos and character to draw people in.

If a company is aware of the challenges of a candidate-led market, it can use this to its advantage when deciding on a recruitment strategy.

Allowing flexibility in as many areas as possible, including location, will entice candidates and give you the most significant pool to choose from.

A candidate-led market offers the chance to promote a business, and by embracing the challenges, a company can recruit the best employees.

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