WORKOUT What new year is set to bring
EMPLOYEES will reap the benefits of unrelenting candidate shortage this year, with highly skilled jobseekers receiving multiple offers, specialist recruiter Hays predicts.
Many organisations are competing for the same candidates in areas of acute shortage. ‘‘ This will place pressure on employers to differentiate their offer and stand out early in the recruitment process avoid this tug of war,’’ says Hays director Nick Deligiannis.
Other trends that will continue to make a strong impact on the recruitment market include the increased focus on retention strategies, globalisation of candidate search, use of contractors to fill talent gaps and employees’ preference for financial incentives, Deligiannis says.
Talent retention measures are still not receiving the attention they deserve, he says.
‘‘ Every manager in an organisation has a role to play in a retention strategy and with many organisations experiencing rapid growth, a focus on retention will need to become integral to maintain growth long term,’’ he says.
It is quite likely that employers will recruit whenever a good candidate becomes available, irrespective of whether or not there is a vacancy, Deligiannis says.
‘‘ Business growth and the shortage of skills will see more employers register open requirements with recruitment firms,’’ he says. ‘‘ Employers will interview a suitable candidate that matches their criteria any time they become available, regardless of current vacancies. This enables employers to secure the right staff they need for future growth, and it also allows candidates to access opportunities with the employers that are most suited to their own unique skills and experience.’’
Employees are likely to continue the rising trend for financial incentives, he says.
‘‘ The way in which employees are recognised and rewarded for hard work or successful results plays a significant part in employee engagement— which in turn has repercussions on retention.
‘‘ Salary pressure will remain for candidates in demand and it will be imperative organisations keep their rates competitive to retain staff. Yet it is equally important candidates maintain realistic salary expectations and do not price themselves out of the market,’’ he says.