Tuesday, 19 January 2016

How does the talent short marketplace affect you as an employer?

As the UK economy and more specifically the Building and Construction sector has improved, so has the confidence of manufacturers and distributors of building products.

This confidence has been one of the main drivers in the significant increase of high quality and more diverse job opportunities. It has also highlighted the importance for companies to invest in retaining and developing their best talent.

These changes are positive, with just one major problem - actually finding the required high-quality and available talent. 

But why is this so difficult?

Move quickly!
Our findings have shown that companies are continually losing the best talent by taking too long with the recruitment process. When they hesitate, the best options slip by. Not having a structured recruitment process in the first place can be the cause of this hesitation.

Delaying initial interviewing just to ensure a sufficient number of candidates or reluctance to employ the very best candidates – who often command high salaries - may result in expensive mistakes.

Once the decision is finally made to interview, coordination and scheduling of multiple diaries of the hiring team can result in potentially longer delays. These delays can be incredibly damaging, especially when the window of availability of the very best candidates in the improving market is now even shorter. Some of the top talent is only available for a matter of days after entering the job market – some do not even actively enter the job market.

Most employers are unaware that their own process is often unintentionally the cause of missing out on the people who will improve their businesses. It is essential that the recruitment process is approached with urgency and decisiveness, reacting to high calibre candidates immediately.

Remember when you’re interviewing, you’re being interviewed too!
A damaging misconception is that interviews are a one-sided review of the candidate. If you maintain this mentality in a talent-short marketplace, it will lead to a major obstacle in attracting and securing the best talent.

Due to the growing number of quality opportunities and the sense of security created through increased confidence of employers, the best candidates are now even more discerning in making their choice. They command higher compensation, career progression opportunities and more positive pull factors for joining a company.

It is essential for all employers to remember that an interview is a two-way process; it is equally the responsibility of employers to present the benefits of joining their business.

Treat the process as you would any major contact pitch
When the offer stage is reached, it is also very important that it is pitched at an attractive level. Once accepted, the onus is on the employer to react quickly in providing the offer and contract in writing. Once in place, maintain frequent contact to engage the new candidate and fend off interest from any competition – treat them like a new product, protecting and benefitting from its USPs.

The process of securing the candidate and the reaction time should be viewed with the same care and attention as winning a contract for a product on a major building project. In fact, the whole process from start to completion should be considered with the same importance – after all, it is an investment in someone who will secure future product specifications.

There will always be an abundance of ‘active’ candidates but high quality ‘passive’ talent will no longer fall on the lap of the employer.

So how do you access and secure the best talent in the current market...? Talk to us to discuss how we can help you in this process.

Seek professional advice and support to succeed
Companies shouldn't feel that they have to go it alone – as with any other type of large investment, expert specialist advice should be sought and the necessary time should be allocated to the decision-making process. The same should be applied to recruitment: the use of a specialist recruitment agency will help to maximise the chances of finding and developing an effective employee.

At Pinnacle Consulting we understand the dynamics of the current recruitment market as well as the building and construction industry. 

We invest heavily in proactive search, networking, and headhunting, enabling us to provide our clients with access to the very best talent, from graduate and entry-level through to key executives at board or senior management level.

In addition to our search and attraction methods, we engage with potential candidates daily through our extensive in-house, online and social media networks as well as by pre-interviewing and assessing candidates throughout the country.

So if you are looking to attract and secure the very best talent, please get in touch on 01480 405225.


Image: Shutterstock ref. shutterstock_85385020

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