What’s happening right now - Market Insights
I love thinking ahead as much as the next person, but right now we have some real issues in the current market with finding great candidates and companies being able to fill vacancies.
If you have recently advertised for new employees, you will know how tough it is. Application numbers are down, response rates are down and the quality of applicants is down. Many businesses are struggling to fill roles and this is impacting productivity, expansion plans, and ability to deliver services.
What employees and potential candidates want has changed significantly throughout 2020, 2021 and now in 2022, it has evolved again.
In 2021, candidates were slower to make decisions and required more convincing before they submitted an application. Greater importance was put on an organisation’s values, employee benefits, and culture - so it’s critical that these things took front and center of your advertising strategy.
So far in 2022, that has ramped up another level again.
Key factors for people moving jobs right now are:
- alignment to company values
- flexibility and work from home options
- focus on work/life balance and wellness packages/philosophies
- stability and security
In fact, work/life balance and wellness policies have now overtaken salary and financial benefits as the key motivator for someone to move.
More research than ever is being done on the company and people are picking the company not necessarily the job. What I also find interesting is the investigation into the company leaders. So, it’s not about what the company itself says, but what the leadership team is posting and commenting on via channels such as LinkedIn.
So what should businesses consider?
Understanding what candidates want should define your advertising message and strategy.
With candidates focussing less on just compensation and moving into what is the mission and vision and values of your company it’s necessary to go back to basics with recruitment marketing and focusing on employee stories and using those to entice new employees.
Some other ideas:
1. Integrate video into your recruitment advertising strategy to share stories of your people, culture, and values (people stories as these are up to 200% more engaging as they are seen as more authentic).
2. Get leaders talking about your culture.
3. Build a story of your organisation over multiple channels.
4. Share what you offer employees (wellness packages, stability, training, development, etc).
5. Consistency, consistency, consistency. All touchpoints must breathe the same message…Your company website, your adverts, company pages on LinkedIn, Facebook, Instagram, ads on Google, and job boards all must have consistency in your messaging.
I hope you find these insights helpful.