The hiring landscape
The last 2 years has seen tumultuous changes in the labour market caused by political and economic instability both in the UK and worldwide.
As the UK navigated the post Brexit, post Covid world, we have seen a war start in Europe and three Prime Ministerial changes in quick succession.
Against this backdrop we have seen the working population shrink post Covid in the phenomenon labelled the ‘great resignation’ whereby workers elected to opt out of the conventional workforce or elect to retire early. The ‘War on talent’ has intensified with the lowest post war unemployment rate of 3.5%. Brexit has not helped this situation either with a vast number of workers leaving the UK and returning home.
Where does that leave hiring companies looking to expand and grow their workforce in the coming years, with an ever-shrinking pool of talent?
Well, it certainly means companies need to have a succession plan, identify, and have a hiring goal, then know how to execute it. Below are the Shirui Lily tips for hiring all companies should consider:
Succession plan – All companies need to link their hiring strategy to their overall company strategy. Ordinarily this is over a 5-year period, meaning the company is looking down track when making hiring decisions.
Profile – The candidate profile needs to be realistic and obtainable in the market. Ideal ‘wish list’ profiles just create delays and disappointment.
Attraction and retention – Once defined the job profile needs to be marketed well. Through social media, experienced recruiters, good advertisement. Identified candidates need to be contacted in a timely and professional manner. The renumeration package needs to be competitive including flexible working, and other fringe benefits now seen as standard. Like work from home options, flexible start/ finish times.
Interviews – The interview process needs to be swift, encourage engagement, and promoting the hiring businesses key benefits. It is a competitive market, so the interview is a chance to sell the company. The training and development and career prospects.
Onboarding – planned and succinct, streamlined onboarding motivates new hires early on. Linked to the T&D program.
Leadership – finally, good businesses are lead well. A visible competent leader gives direction and vision to any successful business. New and existing employers recognise strong leadership.