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Employers are facing the worst labour shortage in over two decades. Here’s how you can update your approach to recruitment to help fill your vacancies as quickly as possible.
Last year, the number of job vacancies soared to more than 1m for the first time since official records began in 2001, rising by 35% in the space of three months across all sectors of the British economy (source: The Guardian).
90% of recruiters say that labour shortages are one of their biggest concerns for the remainder of the year, while skills shortages are a worry for 65 per cent.
As specialists in manufacturing, distribution and engineering recruitment, we’ve seen some employers left disappointed as highly sought-after candidates can choose between multiple offers. They get snapped up quickly or are being counter-offered by their employer who knows how difficult finding good candidates is right now.
But why are we facing such a challenging recruitment market?
A staggering 1.3 million non-UK workers have left the UK during the pandemic, due to both COVID and Brexit.
The furlough scheme has also taken people off the market, and although the scheme is set to end in September 2021, the expectations are that there won’t be a flood of new candidates onto the market when it ends.
Finally, the post-lockdown rush to reopen is also partly to blame. As businesses which were closed entirely or running at a hugely reduced capacity have started to reopen, demand for staff is at an all-time high.
Despite the shortage of good candidates, there are ways to make your vacancies as attractive as possible. Here’s a roundup of some of the steps you can take:
Of course, offering higher pay than your competitors will help encourage potential employees to choose your company, but it’s important to note that money is not the only consideration. Good candidates are looking for far more than more cash in their pay packets.
We know of businesses who are offering benefits such as free lunches or contributions to travel costs, where contracts allow.
If your competitors are offering a benefits package which includes more paid holiday, a company car and health insurance for example, and you don’t, you’re going to struggle to win candidates who have two offers on the table.
It’s worth considering what you can include as a benefit that you’ve perhaps not offered in the past. Your payroll expert or accountant will advise you on the types of expenses that are allowable for permanent staff, and we can offer advice about the best benefits to offer temporary workers.
In a post-pandemic world, offering flexible working arrangements could be a key way to help your firm attract talent. A recent survey found one in four businesses will continue to allow staff to work from home or will offer hybrid workplace and home working which many prospective employees find extremely attractive.
Of course, some staff simply can’t do their jobs from home and structured shift patterns are necessary in some industries, but even these can be adapted to offer greater flexibility that will appeal to the best candidates.
It’s never been more important to partner with an experienced, independent recruiter who knows your industry and the local area. In the current market, time is of the essence when recruiting, so you need to have a team on your side who have the know-how to source the very best talent.
We’ve got some of the best local candidates registered with us. Plus, our team are dab hands at attracting the best candidates with the skills you need.
Why not get in touch with our friendly, helpful team on 01256 334575 to see how we can help?
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