Did you know that unemployment rates in the UK are now at their lowest since the 1970s? This is obviously great news for the economy but presents a big challenge when it comes to hiring the best talent for your company. With the job market now being candidate-driven, finding the right people for your organisation can be harder than ever before.
We all know how important it is to have the best people working for you. With a talented and motivated team on board, your business stands the best chance of being successful. In that sense, employees are your most valuable asset, and care must be taken to recruit and retain them just as much as generating sales or managing finances.
So, are you doing all of the following?
A new recruitment drive is all very well but before you start thinking about hiring new employees, are you sure you’re doing everything you can for your internal staff retention and development? There’s little point hiring new people if they won’t stay with the business long enough for you to reap the benefits.
Business Coach and Online Educator Rob da Costa suggests the following talent retention incentives in one of his recent blog posts:
Take a look at your team and ask yourself how happy and engaged your workforce is. Are you training them, promoting them, rewarding them appropriately? Do you have a positive company culture? In a job seekers’ market, it’s not just job seekers who are being harder to please. Your existing staff may consider changing jobs if they feel more valued elsewhere.
Company culture is a big and growing topic that you cannot afford to neglect. It’s a magic formula that goes like this: Get your business model and your internal culture right and you’ll be surprised just how quickly word gets around that your company is the place to be.
When your candidates, employees, customers and the public interact with your business, what’s their experience? The way your company is perceived hinges on its internal culture and how this is managed. Everything follows from here – from team engagement and productivity to employee happiness, staff retention, and business success.
Identifying and developing your company’s brand doesn’t have to be expensive, but it does have to be done. Here are four things you should be doing:
If there are no internal candidates you can promote to the vacancy, outside recruitment is going to be your next step. Start with a clear job description and be focused on what exactly you are looking for in the right candidate, and what you are going to offer.
The customary ‘spray and pray’ efforts of yesteryear will no longer cut it in a job market where candidates can afford to be choosy. With so many other companies competing for the highest calibre candidates, your job advert needs to stand out for all the right reasons.
In order to reach the right people, you need to know where to find them. Social media platforms, such as LinkedIn, Twitter and Facebook, are an excellent place to start engaging with potential candidates. There are plenty of specialist organisations and software tools to help you with this. You could also partner with a recruitment consultant who will have the time and resources to dig deep into the job market on your behalf.
Once you have shortlisted your best candidates for an interview, follow through with a carefully prepared and organised meeting. It’s amazing how many companies invest time and effort into recruiting candidates, yet blow their chances on the day. A good candidate will know if they’re being fobbed off with an ad hoc interview.
A negative candidate experience is unlikely to lead to the result you are seeking. Worse still, a disappointed candidate may share his experience on online platforms. Poor feedback may discourage others from joining your company and negatively impact on your brand.
According to recent figures, a positive experience will make the job candidate about 1/3 more likely to accept your job offer. You are selling your company, so you should put your best people in front of the candidates that you want to impress. Confident, ambitious job seekers will have plenty of other opportunities on the table, so do your best to woo them.
Written By Annie Button
Smart Recruit Online offers an award-winning talent attraction software that can streamline and revolutionise your recruitment. To find out what we can to for your recruitment strategy, book a demo by clicking here.
Does your business have a recruitment plan? Sensible preparation could help you over the line in the dash for talent as we find ourselves in a candidate-short market.
New research by the Korn Ferry Institute predicts a major recruitment crisis with a significant future shortage of skilled workers. The study estimates that by 2030 the global talent shortage could reach 85.2 million people, costing companies trillions in lost business opportunities.
The United States financial services sector is projected to suffer the most, while European financial centres, like the UK and Germany, could struggle to retain their global positions due to the looming skilled-talent shortage.
Strategic action to address this is essential and it should start now. Business leaders who move talent acquisition to the top of their agenda will be in the best position to compete for scarce talent in the future.
In this article, I’ll be looking at what businesses can do to attract talent in a candidate-light market.
Agency recruitment isn’t always all it is cracked up to be. For a start, how can an agency know everything about your business? Deciding who should handle your recruitment isn’t an easy decision and there are pros and cons for seeking talent yourself or using an outside recruiting team that is dedicated to looking after your recruitment needs.
One of the biggest arguments for keeping recruitment in-house is to avoid huge recruitment fees. Mike Knivett, MD at Artemis Marketing, found using external agencies costly and not always successful in finding exactly the right candidate.
“We decided to bring recruitment in-house and hired a specialist on a part-time basis to help us. Since our recruitment specialist, Caroline, has been on board we have successfully recruited some amazing people who are exactly the right fit for us. Caroline has been able to work closely with us to really understand our culture and business needs.”
If you do decide to use an agency, it is a good idea to partner with one that has a high level of specialism suited to your business needs. This should at least ensure you get access to the right pool of talent. By working with the same recruiter, they can also get to know you and your business and ensure that there is a good cultural fit, in addition to having the right skills and experience.
Social media is being used like never before in the race to find talent. Building your reputation online is by far the easiest way to reach the talent pool of the future. Millennials and Gen Z will soon become the biggest cohorts in the labour market.
Both groups embrace social media as their main form of communication. Millennials tend to use Facebook and Instagram, while Gen Z also uses Instagram, they also watch YouTube and communicate via Snapchat. Be mindful though, that social media is great for communication and establishing your brand, but not always as a stand-alone job advertising media.
See more about how Millennials and Generation Z use social media here.
70% of respondents to a Global Human Capital Trends survey by Deloitte cited recruitment as a critical issue when it comes to effective growth. High rates of employee-initiated turnover, low unemployment and the accelerating adoption of automation, which is creating intense demands for technical skills that don’t exist in today’s workforce, are making the job of finding qualified talent harder.
If talent shortage predictions are true, businesses will need a robust training and development programme to teach the skills they need in business. In fact, there are already enough talent shortages across more than 500 recognised skillsets to warrant adopting a fresh approach to attracting and retaining staff.
Internal talent mobility isn’t a new idea, but it is an area that isn’t tapped enough. According to Deloitte, reskilling an internal hire can be done for as little as one-sixth of hiring an external candidate. Emphasizing internal promotions illustrates to your employees they have a future in your business. This will go a long way in addressing the talent shortage and improve staff retention.
The national apprenticeship program and levy are all designed to encourage businesses to recruit ‘out of education’ and look outside of the obvious skillsets, in order to address similar issues. Expect to see this type of strategy become central to most larger organisations growth plans in the future.
You may not realise it, but your employees are an untapped resource when it comes to finding new talent. Your employees have an established network of friends and associates. They understand your business and are in a position to filter potential recruits to you with the appropriate skills and competencies. This could be one of your best recruiting tools.
Your business will only become a magnet for talent if potential candidates hear good things about you. Salaries are no longer enough in isolation to entice the best people. Talented individuals are looking for companies with a strong and positive culture.
Things like Corporate Social Responsibility, business ethics and a caring and supportive environment are increasingly important and often mean more than salary. Wellbeing programs and robust learning and development opportunities are also on the list of must-haves that candidates are looking for in a company.
The future shortage of talent isn’t an industry-specific problem. Whatever your business, whatever the sector, you should be identifying business strengths to ensure you can attract candidates ahead of your competitors. You will, of course, also need to work hard at retention strategies too, which means an increasing focus on culture.
Ignore the recruitment problem and your business will suffer. The digital age means businesses with poor culture are being exposed like never before.
Annie Button is a Portsmouth based writer and recent graduate. Annie has written for various online and print publications, she specialises in business, Recruitment and career development’.
More articles by Annie Button
Smart Recruit online is an award-winning Talent Attraction and Recruitment Campaign Management Platform with a 98% independent customer satisfaction rating and the highest direct hire fill rate in the UK.
If you want to take action and plan for your recruitment future, then get in touch and arrange a free, no-obligation online demonstration of our services.
Businesses in the hospitality sector have every right to be worried. At least a quarter of the 3 million people working in the hospitality industry are EU nationals, according to a report by KPMG. The sector is a labour-intensive contributor to the British economy and many hotels, restaurants, bars and cafes across the UK are already reporting that they are finding it harder to recruit staff.
At a time when the hospitality industry is actually doing quite well, could Brexit take many businesses in the sector from boom to bust? There’s little doubt that businesses in the sector will need to adapt. So, what can they do right now to fight the Brexit recruitment disruption?
The hospitality sector stands to face a shortfall of 60,000 workers per year. Post-Brexit recruitment in Britain’s fourth biggest industry is a key issue.
As well as the issue of recruitment, the hospitality sector also faces challenges with its supply chains. The Brexit-induced drop in the value of sterling has contributed to higher costs on imported produce. Businesses are already adapting their supply strategies, sourcing more foods produced in Britain. But, procurement planning is another big issue for hospitality.
As well as setting out plans for potential supply chain disruption, the industry needs to focus on building an engaged and motivated workforce without relying on immigrants from the EU. Improving employee engagement could prove part of the solution to the recruitment crisis.
According to the Chartered Institute of Personnel and Development (CIPD), “employees who have good quality jobs and are managed well, will not only be happier, healthier and more fulfilled, but they are also more likely to drive productivity, better products or services and innovation.”
Employee engagement is a workplace approach focusing on the emotional commitment employees have to the organisation and business goals. It essentially drives the extent to which employees feel passionate about their jobs and the effort they put into their roles.
Employee engagement is important in all sectors, but it is more vital in the services and hospitality industries than in any other. In customer-driven sectors, staff are brand ambassadors. They are critical for creating a happy customer experience and improving customer loyalty.
Employees in hospitality roles are part of the lifeblood of the business. Brexit poses its challenges in the supply of labour. Existing employees will be faced with longer hours and have to work harder to fill the gaps. Employee engagement will help employees to feel they are appreciated and have a future in the organisation they are working in. It will also help uncover under-utilised skills.
High staff turnover is costly. It takes time and money to train a new recruit. It makes sense to invest in existing employees. Excessive turnover is disruptive and causes morale to plummet.
Last year, the uber-chic Firmdale Hotels group launched its Employee Engagement week. Without a guest in sight the group’s employees gathered across the group’s eight London hotels to network, upskill, learn and get enthused. The programme of events included inspirational talks, demos, information about company benefits, career advice and tips on building better relationships.
Speaking to hospitality magazine, The Caterer, Julia Murrell, director of people and development at Firmdale, said “I believe retention is driven around engagement. We have a diverse workforce so we have to think of new ideas all the time.”
Group operations manager, Anna Jackson, added, “We spend time on guest engagement, work on how to exceed expectations, how to turn that visit into a repeat stay, and we need to apply those principles to our team, too. We need to look at how we engage them from day one – make them feel special, understand their needs and meet those needs around every role and nationality, as we do with our guests. It is a people business after all.”
Employee engagement can’t be imposed. It’s all about creating a cultural shift. Here’s how:
Richard Branson says “Train people well enough so they can leave, treat them well enough so they don’t want to.” In an industry with a high turnover it’s easy to become too focused on recruitment and forget about existing staff.
The hospitality sector has been heavily dependent on immigration. To weather the recruitment storm, hospitality businesses need to prioritise employee engagement and retention now more than ever. Hotels, restaurants, cafes and bars need to attract UK workers and keep them. Employee engagement is just a part of the answer for future-proofing the British hospitality landscape.
About the author
‘Annie Button is a Portsmouth based writer and recent graduate. Annie has written for various online and print publications, she specialises in business, Recruitment and career development’.
Recent articles on a similar topic that are trending right now
Offering support for both recruiters and on-site HR workforces, Smart Recruit Online helps businesses find and hire the best talent more efficiently. To see how SRO can improve your talent acquisition, campaign management, and candidate screening workflows, book a demo today.