Experts claim that ‘The Great Resignation’ – the phenomenon of huge swathes of employees leaving their jobs at the end of the pandemic to pursue roles that gave them great work-life balance, a new career path, or enhanced opportunities – is now behind us, and the overall growth of vacancies is falling. But what does that mean for your business, asks Natalie Metcalf, marketing manager at The Candidate?
Here at The Candidate, we have over 50 years combined experience working with companies across a huge range of industries and at every stage of growth, whether they’re start-ups or global powerhouses. Here is our advice on how to navigate this new era of recruitment, so you can ensure you grow your team effectively.
The Candidate’s executive search board director, Laura Walters, comments on these important techniques below…
Target passive candidates
First and foremost, businesses must cast a wider net by targeting passive candidates – those who aren’t actively job hunting. Building relationships and engaging with these potential talents can yield remarkable results. Understanding their career aspirations and motivations can be a game-changer, as it positions your organisation as an enticing option for professionals who weren’t initially looking for a change but might be swayed by the right opportunity.
“It would be remiss of me to rely solely upon candidates who are actively looking and applying to jobs. Often my role involves uncovering top talent who are well remunerated and
looked after in their role, that employers clearly want to retain. These dormant candidates are often the most difficult to a) find and b) gain interest from for a new role – but the effort is definitely worth it!”
Furthermore, it’s vital to dig deeper into candidates’ motivations. In a post Great Resignation landscape, people have sought roles that align with their values, offer growth opportunities, and foster a supportive culture. During the hiring process, highlighting these aspects can attract not only qualified individuals but also those genuinely eager to contribute to your mission.
“Often candidates apply to new roles when they are feeling upset about an aspect of their current role – that could be management issues, progression being stifled, remuneration or package not progressing as quickly as anticipated, promises made not being met, becoming stagnant within a company or role, etc. However, the role of a recruiter is to address these motivations and truly understand if the candidate is looking for the right reasons or if, with a counteroffer or enhancement of role from their current employer, they will back out of a job offer at the last minute.
“Cultural fit is also a huge part of a successful hire, and we will do all that we can to understand the company that we are working for and also the shortlisted candidates to determine whether the match will offer longevity and whether the candidates are at the right stage of the journey for that of our client.”
Focus on retention
Recruitment strategies should also shift towards retention-oriented approaches. It’s not just about bringing talent on board, but creating an environment where they feel valued, challenged, and supported from day one. Offering mentorship programs, professional development, and clear career progression paths emphasises your commitment to employees’ long-term success and reduces turnover.
“Retention offers the most stable teams, retention offers the best quality output, and retention is the most cost-effective recruitment strategy. We work alongside our clients to ensure that we do all that we can on both sides to hire right the first time and we support clients to ensure that they are offering a market-leading environment that boosts retention.
“Sometimes a client goes on a new journey and candidates outgrow their role, but that type of organic recruitment offers far more stability and growth to teams as a whole.”
Don’t underestimate the importance of competitive compensation and benefits. While job satisfaction matters, attractive packages remain significant. These could be hybrid or remote working, flexible hours, private medical insurance, enhanced holiday packages – just to list a few! Regularly reviewing and adjusting these offerings demonstrates a commitment to recognising and rewarding employee contributions, making your company an attractive destination for top talent.
“We are working with a number of our partners to really understand what candidates are looking for in the post-pandemic era. As many companies change their hybrid working model and shift their focus, we are in the market speaking to companies of all sizes and across many different sectors to gain an insight into what really seals the deal when candidates are looking for a new role.
“This is important to ensure that our clients are getting the best talent. We are also, perhaps more importantly, looking at what candidates are looking for to ensure that they remain in their current role and continue to grow. We offer support on retention strategies weekly to our clients to ensure market-leading compensation and benefits for their specific business and team.”
The end of the Great Resignation signals a new era in recruitment strategies. By being adaptable in your approach, it ensures that your organisation can remain agile in attracting, retaining, and nurturing top talent in the evolving employment landscape. Despite challenges, the job market still holds ample opportunities, and the talent pool continues to grow faster than ever, emphasising the need for companies to evolve with the times and remain competitive.