tdm newsletter: april

Housebuilding industry weighs in on the PM’s explanation of dropped housing targets

“Striking the right balance,” was the phrase used by UK Prime Minister Rishi Sunak in his announcement to ditch local housing targets after ‘thousands’ of Conservatives raised concerns. The announcement came earlier in April, with the PM stating, “We do want to build the right homes and the right number of homes and build them in the right places and in the right way. And that means we do need to put local people at the heart of that process and that’s why strengthening local plans is so important.”

The news came after Housing Secretary, Michael Gove in December stated that there would be more flexibility for councils to depart from housing targets. With the targets becoming advisory, after MPs had voted later last year to scrap targets altogether, this month’s news is not unsurprising for the industry.

Voices from within the housebuilding industry are raising concerns that this is yet another demonstration from the government that they are not supporting the industry. Housing Today is arguing for the government to reinstate the 300,000 homes pledge the Conservatives made in their 2019 manifesto. The argument is that the UK is facing a huge housing crisis and instead of abolishing targets, having a target to work toward helps protect both housebuilder and buyer confidence. We expect how this announcement plays out will be closely watched by all parties as we get ever close to elections. ?

?

?

Apply even if you only match half the requirements – cry from Hiring Managers ?

Four in five employers, surveyed globally by Manpower Group, stressed that they are struggling to find the talent they need in 2023. The research also found that finding the right candidate was five times more difficult now than it was in 2015. While this may be nuanced for particular industries, within property and housebuilding the demand for skilled employees is similar to the pressure of last year. With the power balance between client and candidate becoming more evenly matched in 2023, negotiations are still very much part of the playbook for those who can demonstrate their worth.

One of the biggest struggles is not necessarily that the talent isn’t out there, but that job adverts are scaring away suitable candidates. Why? Because long lists of requirements and too many demands including specific academic merits and skillsets are seeing many self-reject from the hiring process before even pressing the apply button.

The perceived myth is that only candidates who match close to 100% of the job’s requirements will be picked for interviews. While, in today’s market, this couldn’t be further from the truth. Instead, we have found through our work as a property recruitment agency that Hiring Managers prefer candidates who do not fully match the requirements so that they have room to learn, develop, and not get bored with the job within a year. In a 2018 survey by TalentWorks, they found that candidates with a 50% or above requirements match make you just as likely to get an interview as the person with a 90%+ match.

The conclusion then is don’t be put off by the job description requirements. From the hiring managers we work with, the consensus is that candidates who have the skillsets and temperament to learn on the job and develop into the role are just as valuable as those who match all the requirements. In fact, they are sometimes more preferable as they are least likely to get bored and move on. So, next time you see a job advert you like the look of – why not press the apply button?

?

Are job boards dying now social media adverts are taking over?

Job boards, only a couple of years ago, used to be the place to go when looking for a new career opportunity. You could upload your CV and be inundated with recruiters interested in putting you in for this and that role. But, in recent years job boards have been lagging behind the impressive presence of social media platforms, particularly LinkedIn.

According to StandOut CV, 43% of job seekers believe job hunting on a social media site delivers better results than traditional job boards. And according to results via HR Magazine, 73% of millennials found their last position on social media, with Glassdoor stating that 91% of employers are using social media as part of their hiring process.

There are several reasons why social media is winning the race when it comes to the hiring process. Namely due to the fact that social media is already individualized, meaning instead of searching for jobs, jobs are finding potential candidates. Whereas on a job board, you need to think about specific job titles and locations, social media showcases the nuances of certain roles as well as better shows remote opportunities as well.

On LinkedIn, 52 million people are actively looking for a new role every week. With a designated job search page, as well as an inbuilt recruitment system for third parties to use, LinkedIn is all about connecting professionals with each other and with career opportunities. Companies quickly realized that they can advertise roles on the site through the job board as well as on their company pages and their current employees, providing a comprehensive strategy when it comes to hiring new talent.

However, both job seekers and recruiters need to remember that not everyone is on social media (yet) and the algorithm isn’t a fail-safe method to ensure you’re seeing what’s relevant right now. The best case of action when looking for a new role is to increase all the options available to you ?- or alternatively use a recruiter to do it all for you!

?

5 hiring trends to expect for the second half of 2023

There’s been a real shift in the housebuilding and property market over the last few weeks. Companies that have been dormant at the beginning of the year are starting to stir, and the promise of a busy second half of the year feels imminent. As we get ready for what’s about to happen next, we thought we’d take a look at tdm’s predictions for what to expect when it comes to hiring trends for the rest of 2023:

1.???Creating inclusive working environments

Whether it’s providing quiet zones for workers or modelling inclusive language, there is no excuse to not be implementing inclusive systems and places for your employees. It’s not just about celebrating individual differences (although that helps) but supporting how individuals work in order for the best results for everyone, including the business. We expect to see more companies to become more vocal on how they are inclusive.

2.???A push for pay transparency

While the year is 2023, the conversation around closing the gender pay gap is still on the table. Fortunately, more companies are recognizing that pay transparency is not just a benefit for the job seeker but helps push internal promotion and development for everyone in the business. At tdm, we advocate for salaries to be transparent and push for companies to say away from the dreaded c-word – ‘competitive’.

3.???The importance of fringe benefits

We spoke before about bigger businesses scrapping their fringe benefits and in response, it’s helped smaller companies win new employees. That’s because one of the big working lessons from the last few years has been that while money counts, other benefits such as extra holiday allowance, enhanced pensions, gym or wellbeing memberships are viewed as an integral component in job seekers’ decision-making. Taking away such benefits may be a risk not worth taking, especially in such a competitive market.

4.???Culture expectations – a generational divide

Bridging the gap between employees is going to be integral to establishing collaborative work cultures. Hiring and HR Managers will be looking at what attracts talented professionals from Gen X to Gen Z and if the media will have anything to say about it, there’s a big difference when it comes to understanding how each one prefers to work. When it comes to hiring, showcasing the company culture is key to showing individuals how they can fit in and make their mark.

5.???Utilizing current employees’ personal brands for hiring

Lastly, as we have mentioned in previous blogs, attracting talent on social media platforms is becoming a big part of the hiring process. Therefore, it will come as no surprise that we expect to see hiring teams utilizing current employees’ social pages to share new job announcements. Our tips for job seekers in 2023 are to make sure you are following company pages and getting connected with their employees to ensure you see the news first.?

***

If you are interested in finding out more about what we do, or to see our latest?property jobs , please visit us over at?tdm-recruitment.com . Alternatively, you can reach out to us at?[email protected] .