2018 kicked off with a bang seeing the market being incredibly active with both candidates and clients searching for that new challenge, new talent and strong skill sets to fit with the increased hiring needs. The hot topics this year across all industries, not that they need a mention, are GDPR and Brexit, both bringing their own stir onto the market along with both the elements of uncertainty and opportunity on hiring needs. In this article we’ll look at some of the recruitment challenges faced this year and the recruitment trends of 2018.
A Candidate-Driven Market
Although the market certainly picked up this year, it is still very evident that it is a candidate-driven market and a competitive one at that. Effectively you don’t pick talent anymore, talent picks you. Candidates who are active on the job market are likely to have 2 or 3 opportunities happening simultaneously. It is vital in this market that companies ensure the candidate experience is a top priority, as this can ultimately lead to a candidate accepting or declining an offer.
Candidates are more aware of any negative future employer branding which could be detrimental to the hiring process and ultimately difficult to hire talented candidates.
Shortage of Top Talent
One of biggest challenges in 2018 is attracting top quality candidates for clients. Given the low unemployment rate coupled with the ever-changing needs of the job market, we saw a shortage in that talent pool and with an increase on the Fixed Term Contract roles being released resulted in these being the “harder to fill “roles.
The pace of the Recruitment Process
The demand for talent significantly outweighs the supply, which leads me to the pace of the recruitment process. As previously mentioned, we live in a candidate-driven market, therefore a delay in the interview process will cause clients to lose out on top talent. Unfortunately, reducing time-to-hire can be difficult for most companies. We have found that conducting multiple interviews on the same day, with a follow up interview in less than a week, will result in a smoother process and more positive outcome for all parties.
Managing salary expectations in this current market
It is crucial as a recruitment consultant to manage expectations of both your client and candidates in relation to salary. With the current job market, we are seeing an increase in salaries for some specific “hard to fill” roles which can lead to unrealistic salary expectations from candidates. It is important to know the details of full package and benefits and know what the minimum salary your candidate will accept for the right job.
The 2018 LinkedIn Global Recruiting Talent Report listed diversity as the top trend shaping the future of recruiting and “the biggest game changer” for hiring processes. We have certainly seen this from a vast amount of our clients over the past months, requesting that a conscious effort be made when sourcing for a role to ensure there is a balance in terms of applicants being considered. As the Irish Times recently reported this is now a C-suite agenda item with 69% of executives surveyed by Deloitte globally reporting it as an important issue.
Diversity in gender and ethnicity will be crucial for organizations as we come into 2019. The top three reasons why companies are focusing on diversity are:
- To better represent customers
- To improve company performance
- To improve culture
Interviewing Tools, Data and Artificial Intelligence are expected to also play a major part on the hiring process and trends for 2019.
As we draw close to the end of 2018 and with the market still confidently growing, I expect that we can see another surge in hiring needs for 2019 with new recruiting trends emerging on how best to attract the top talent.
If you are thinking about career progression, new opportunities or simply want some advice on the market for 2019 either as a candidate or client please contact me for a confidential conversation on 01 703 8820 or firstname.lastname@example.org