We’ve never seen a more buoyant market, which is reflected in the number of candidates receiving counter-offers. The speed at which recruiting processes are developing is not for the feint-hearted, and we are seeing record numbers of candidates dropping out of the hiring process, due to being in high demand elsewhere, with organisations who have slicker, faster onboarding methods. To put it bluntly, if you snooze, you lose.
There have also been a number of other drivers over the quarter which have been influencing the recruitment landscape. The demand for niche, specific skill sets across the sector is forcing the hand of many organisations, who are having to make radical compromises in order to attract the most qualified people.
As a national recruiter, we’ve been observing this across different areas, but specifically across Assets and Data Analysis roles. Individual salary scales are widening dramatically, and there has been a growing disparity over the last twelve months, with many organisations now coming to terms with having to pay more to attract those with a higher level of skills to take the business through to the next level in areas including digitalisation and data, sustainable building, net zero, retrofit, repairs and quality of living standards. This, in turn, is impacting salary scales, which is having a knock-on effect elsewhere in the business, where efficiencies are having to be made to compensate.
What are the solutions?
We’ve been exploring these and other issues in our Autumn Senior Leaders Networking Session, which brought a broad range of top-level industry professionals from across the country together with the aim of finding collaborative, workable solutions to some of the most challenging issues currently being faced across the sector. To attract, develop and retain the best talent to take us through the next set of challenges, there was a collective sense that there needs to be a more cohesive long-term strategy in creating regional and national home-grown housing talent pools, where shared skills and expertise can be utilised cross-sector. This has the benefit of spreading costs, sharing much needed resources with smaller, more vulnerable housing providers, and competing more effectively with larger, private entities with individually larger pockets.
However, talent attraction and retainment is not solely about remuneration. People are more values-led than ever before, and although the current economic climate is creating a resurgence in financial priority when choosing a career option, a healthy work-life balance, flexibility, mental health support and the option of individual, adaptive benefit choices are all strong factors influencing candidates right now. In summary, if you’ve got the right company culture, you’ll attract the right people.
To talk to us about how we can help find your ideal fit, contact one of our team for an informal candidate or client conflab. We’re experts in our field at finding the right work partnerships – first time, every time.