The economy is doing well and, despite Brexit hanging over us, Collingwood has enjoyed a fantastic 2018 so far with the large majority of our clients investing in their businesses through the recruitment of talent all the way up the hierarchical ladder to their board rooms. There has been a definite shift to arm themselves for ambitious growth and it has been a pleasure to hear all the positive stories of our clients doing well and enjoying positive sales growth throughout 2018.
This has certainly been the case across our 4 core industries of aerospace, building products, healthcare and industrial technology.
Whilst a growing economy is a very positive thing, it also brings some negatives particularly around the challenges of attracting and securing key talent to fulfil increased demand. The methods of recruitment are changing rapidly and employers really can't afford to be complacent and assume they will secure the talent they need.
So, apart from investing in an exceptional executive search partner, what should you do?
1. Broaden your search
Please don't create a tick sheet with the education, experience and behaviours that your sought candidates HAVE TO HAVE otherwise they are not for you! If you do this then your vacancies are likely to remain open for quite a while and your business may miss out on some great opportunities.
Think flexibly and logically about individuals who could make a real difference.
2. Study your competition
You need to know what you are up against in the "war for talent". How are your competitors approaching the market and what can you do to clearly differentiate your business so the candidates come to you and not them? How are they selling themselves and what is on offer for candidates if they join them.
3. Sell your organisation
Traditional adverts and general talent attraction strategies are long gone and, instead, candidates want to get a flavour of your business. What is your purpose and culture? What are your values and what evidence can you provide to confirm what other outstanding candidates have achieved after joining you? Remember, there are at least another 5 companies queuing up to recruit these candidates, what is your point of difference?
4. Act quickly
We have all become an inpatient bunch and candidates expect recruitment processes to be slick and quick. If you are not ready to deliver this then please wait until you are. There is no point attracting a candidates and then losing them because your process is too slow.
All in all please don't be complacent and invest both your thoughts and time into your people strategy. Without employing great people is it likely that your business will succeed?
You've probably noticed that hiring for open positions these days feels harder than it ever has before. With the unemployment rate at a historic low--it fell to 3.9 percent in July--there are more open positions than there are job seekers for only the second time in the past two decades, according to the Labor Department. The percentage of American workers who quit their jobs is also up, reaching 2.4 percent in May, the highest level in 17 years. That means workers are increasingly switching jobs and feeling confident they can find a new job and perhaps get higher pay. "Candidates have all the power," said Josh Howarth, district president of the staffing firm Robert Half International. "Most good candidates have multiple opportunities they are considering."