We're back to a candidate-driven market and here's what that means

You don't need me to tell you that 2020 was a bit of a car crash as far as the jobs market was concerned. With some notable exceptions (Deliveroo and Amazon spring to mind), many employers put a freeze on recruitment. With the future looking uncertain and wanting to avoid making redundancies, companies sought to make do with the workforce they had.

Commendable. Not fabulous for recruiters but great for those lucky enough to stay in a job.

Recruitment is returning to pre-pandemic levels

Over the last few weeks, I've spoken to recruiters in law, insurance, consulting, technology and many are saying the same thing. They're busy. Demand for new hires is increasing and, quite often, it's increasing across the board.

Digital transformation projects require a plethora of skills, not just technology; as companies and industries restructure there are demands for bankers and lawyers; as the global economy emerges from the pandemic, many sectors are expected to return to growth.

Competition for the best candidates will be fierce.

Candidates reassess what's important

In a period of uncertainty, people value security. Very few began looking for a new role outside their organisation during the pandemic. Why would you?

Instead, people experimented with home working, learnt to place a value on organisations that have supported them through the crisis; and have found a whole new meaning in the concept of flexibility. And besides, who'd want to apply for a new job during a pandemic?

With candidates preferring to sit tight, demand is outstripping supply.

What does this mean for employers?

Plan ahead

If you only ever hire to fill a vacancy you will always feel as though you're fire fighting. Now, more than ever, you need a longer term, strategic view of your pipeline. What do you want the make up of your teams to look like in a year, in three years, in five? What skills do you need to build? Where do you need more diversity?

Recruit for the future, build capability, take active steps to increase the diversity of your teams. Build your pipeline of future leaders, both internally and externally.

Be clear on your employer brand

What's your offer? Why would anyone want to work for you? Do you offer the best development opportunities? Access to the most interesting work? Growth opportunities? A generous, fun-filled working environment? Or do you promise to pay a very big salary in return for very long hours.

You'd be surprised how many companies approach us to say they really want to do something about their gender balance ... and then go on to explain that everyone is expected to work full time (full-time being at least 80 - 90 hours a week and quite regularly through the weekend).

(Yes, some women are up for this but I can tell you from experience that many women, especially those with young children, are not. It's fine, just be clear what your message is.)

My prediction is that the strength of an employer's brand will become an even more crucial factor in a candidate's choice when considering two or more alternative job offers.

Think Beyond the Normal

Widen your horizons, look beyond the normal places to find the best talent. At Inclusivity we work with people who're returning to the workplace after a career break. You'd be amazed at how quickly employers (and other recruiters) will write off someone with a stellar career simply because their last paid job was five years ago.

Over the last three years, the Reignite Academy has placed several women back into private practice law firms, bringing with them, collectively, hundreds of years' experience, not to mention a wealth of contacts and valuable business relationships.

When competition for talent is tough, you have to be creative.

Make sure you retain your best people

Everyone's had a different experience of the last year. The best employers are talking to their people about how they're feeling and what support they're going to need over the coming months.

It's been tough on everyone but people - particularly women - with school age children have had an especially hard time. Give them a bit of extra attention. They're probably exhausted right now. Give them a break, invest in them, tell them you care and make sure they have the opportunities to flourish now they are free from home-schooling. (Unless, that is, they loved the experience and are looking for a career change .... ).

The Good News

Companies that have truly embraced remote working and have re-thought how to adapt their businesses will find that they now have access to a much bigger talent pool. That amazing lawyer who happens to live in Winchester? Who cares? You can trust her to work remotely, you know how to build a remote team and she's happy to pop up to London once every couple of weeks.

You now have someone else to add into the mix. She has an option beyond working for the local high street firm.

With candidates climbing back into the driving seat, any employer that is ready to plan ahead, has a strong and compelling employer brand and is willing to embrace new sources of talent will find themselves in a winning position.