Countless businesses are working with reduced numbers of staff because of furlough, short-time working and redundancies, so it’s understandable that many employers have put the brakes on recruitment.
But those who are looking to expand their teams could find that now is a surprisingly good time to go on the hunt for new talent and recruit.
Larger candidate pool
Sadly, many talented people have lost jobs during this unstable period through no fault of their own. This is devastating for those businesses and individuals affected, but does mean that the number of good candidates who will be looking for work in the coming months is greatly increased. This means unusually rich pickings for an employer who is on the lookout – they may be able to find people who simply wouldn’t be on the market in normal times.
The rise in remote working also opens up a new pool of candidates for employees who don’t need their people to live within commuting distance of a workplace. This could enable access to the very best talent – especially when the flexibility remote working brings is becoming more and more attractive to employees.
It’s no longer a passive market
People are said to be part of the passive market if they are not actively looking for work – and it can be hard work to reach them. Before the pandemic, luring these people on board required the perfect mix of money, benefits, and flexibility. Now, people are actively searching for potential opportunities because they been made redundant or are concerned about their job security, so it’s much easier to find them.
Even for those who are not actively looking, the rise in remote work gives them the option to explore and learn about other potential roles without having to take a day off from work to go to a recruiting event can be very beneficial.
Shorter recruitment process
You might find that some candidates will not need to work their notice, due to redundancy, so it’s a much quicker process getting them through door.
Virtual hiring eliminates the need for organising travel to an interview site and allows easier scheduling of interviews – job seekers are now more likely to be available for interview and to have the time to talk.
Remote recruitment events, virtual interviews, and even onboarding processes all can be done safely from the comfort of the candidate’s home. It streamlines the entire process, saving time, money, and ultimately speeding up the time to hire, which is hugely important to recruiters and to candidates out of work.
Reduced recruitment costs
Recruiting doesn’t just involve the actual costs of hiring a candidate — it includes the costs of training and retention. Moving the process solely online can save on third-party fees, referral payments and travel expenses.
It’s no longer about face-to-face meetings and onsite training after a job offer has been accepted. Thanks to the range of software available, recruitment and onboarding has become cheaper, more flexible, personalised and interactive.
Priorities are changing
Covid-19 has given people a lot of time to consider if they are really happy in their job. There is no longer a necessity to spend two hours commuting or doing something that doesn’t fit with long-term goals, so why do it? These people will be searching for something new that offers them the benefits they are missing – it’s a good idea to make clear the benefits you are offering in your job specification such as flexible working.
Flexibility in the workplace is one of the most important factors for people right now and in order to attract highly skilled talent, flexible and remote working are a major bonus. Free from office commutes, the distractions of the workplace, and restrictions of fixed hours, many working from home are more productive. Offering this kind of job freedom could work in your favour for a long time to come.
If you need help with finding the right people for your business, the team at Reality HR can design and run your recruitment process as well as offer support with onboarding and employee development. Contact us at email@example.com for more information.