Forecasts are being made, with economists painting a bleak outlook for the UK economy in the coming months.it has been predicted The UK risks being the first of the G7 countries to enter recession and the last to emerge, arguably causing concern among business leaders.
To prepare for the difficult times ahead, many organizations are already making difficult decisions about where to prioritize investments as budgets tighten. According to a new LinkedIn survey, three-quarters of UK business leaders believe the current situation is preventing companies from making progress achieved during the pandemic in key areas of work life such as flexible working and skills development. Concerned about being forced to return (76%), employee benefits (83%).
However, this is at odds with what professionals want and can significantly impact a company’s ability to attract and retain talent. LinkedIn’s Global Talent Trends report says flexible working is the top factor employers value today’s UK workforce, even before compensation, with skills development and work-life balance also topping is mentioned.
Recruiter Opportunity
Despite the economic outlook, we are still seeing a very active labor market with low unemployment and healthy job openings.“Employment recession” A term coined to describe the current climate.
But with uncertainty in mind for many, it has ripple effects in how people respond to new opportunities. Job-seeking activity in the UK has declined compared to the first half of this year, according to LinkedIn’s labor market data, suggesting people are becoming increasingly reluctant to change jobs during this uncertain time. increase. Additionally, according to a recent LinkedIn survey, four of his five UK business leaders said it was difficult to attract talent in the current environment.
Recruiters play a pivotal role in helping companies navigate the changing labor market, but during times of uncertainty like the one we’re collectively experiencing right now, it’s hard not to ask clients They will have more opportunities to act as strategic advisors to companies. They help companies understand what candidates need to actively consider and pursue new opportunities. By doing so, we are uniquely positioned to help reduce the disconnect between what candidates want and what many employers currently offer. This is especially relevant at a time when many companies struggle to find and hire people with the specific skill sets they need to grow their organizations.
In a tough employment environment where people can hide their roles and be reluctant to change, recruiters can help companies understand the job market. Here are her four key things to keep in mind for recruiters during this time.
Help companies understand what candidates are looking for
The pandemic has changed the world of work as we know it, changing the needs and desires of our employees. This means it’s more important than ever for recruiters to understand what job seekers want. The biggest change is the growing desire for greater flexibility in the workplace. Flexible work arrangements are now a major issue for many job seekers when considering, or even accepting, new roles. Recent LinkedIn data highlights a growing preference for flexible working among candidates, suggesting that demand for remote roles is outstripping supply. Remote roles make up less than 12% of job advertisements in the UK, but receive over 20% of applications.
Flexible working will remain a key factor in attracting talent for the foreseeable future, and may be a core differentiator for recruiters when reaching out to candidates, so an organization’s flexible working policy It is important that the is front and center.
In addition to flexible working, LinkedIn’s recent Global Talent Trends The report shows skill development is a top priority for employees and job seekers. By highlighting the company’s commitment to skills development and the various L&D initiatives available, recruiters can help candidates understand how changing jobs can help them develop new skills and advance their careers. can.
Encourage companies to put skills first
For decades, companies have missed out on high-potential talent because candidates have been evaluated based on formal education, experience, and previous positions. Recruiters have an opportunity to help organizations transition to a skills-based recruiting approach. In this approach, candidates are considered for their skills and future potential. This can alleviate the challenges of hiring in a tight labor market.
Our data shows that LinkedIn members around the world added 365 million skills to their profiles last year, a 43% year-over-year increase. Recruiters use skills to screen and search candidates, rather than relying on direct past experience, helping companies tap into new talent pools and source talent from non-traditional backgrounds can help This can also help improve organizational diversity. Additionally, recruiters who adopt a skills-based approach to recruiting believe that companies “Select withIn our approach to hiring, we not only screened out unsuitable applicants, but actively recruited candidates who may not have realized their skills were right for the role. Given the still tight labor market, companies will appreciate this method of attracting new talent.
Realize company purpose, culture and values
More than ever, job seekers are drawn to companies that align with their personal values. Today, when looking for a new role, it is rare to see a candidate challenge and assess the company’s position on the specific issues they care most about, such as DEI or environmental sustainability.
Therefore, recruiters need to understand the company’s purpose and values and ensure that they are communicated during the hiring process. Recruiters should also partner with companies to ensure that these attributes are best appealing to job seekers. employer branding.
Data-driven adoption is the future
With significant changes in the labor market, businesses are increasingly looking for partners who can stand out from the crowd and provide truly consultative, data-driven and actionable insights.
This means that there is a huge opportunity for recruitment agencies to equip their teams with the right tools to get this data and the skills needed to be able to decipher it. Equipping your team with these competencies will help recruiters get a higher place at the table and provide clients with strategic advice on workforce planning.
There is no denying that these are difficult times, but recruiters have the right to be cautious and optimistic, and a more advisory role can provide significant value to their clients. By providing advice and guidance, recruiters can help organizations navigate tough economic times, develop new talent pools, and successfully attract top talent.
To Adam HawkinsLinkedIn, Head of Search and Staffing for EMEA and LATAM.
