As anyone that’s been working in recruitment will know, 2023 has been a tough year! Increasing numbers of people coming back into the job market due to the cost of living, decreasing vacancies and increasing redundancy rates are all leading to a perfect storm in the job market. Throw into the mix companies requesting more on site presence and candidates wanting to retain more hybrid working options and finding the perfect candidate for your role suddenly becomes a lot more challenging.

What are the factors that are impacting hiring now: 

Pay – the ONS has recently reported that the average wage is catching up with inflation. But, is that enough? When we see staggeringly high volumes of people still needing to use food banks, the evidence would suggest that more needs to be done. For hiring managers, salary and benefits need to be at the forefront. Are you being competitive? Are your benefits in line with what your employees need and use? If you are asking your employees to come into the office more often are you mindful of the additional commuting costs you are putting on them? All these have a part to play in whether or not you will attract the right candidates or even retain them against your competitors.

Sustainability – over 2023 we have seen an increase in the number of companies that promote their sustainability policy or ESG (Environmental, Social and Governance) as a tool to engage with environmentally and socially conscious employees. This is more evident with larger companies but, if you want your business to be seen as forward thinking and progressive, then spending time on implementing an ESG policy that you can work with will give you a more positive brand recognition in the recruitment market. According to a recent report by Totaljobs, 82% of employees want their employer to address climate change. If sustainability isn’t on your agenda this year, it needs to be a top priority for 2024.

The ONS has recently reported that the average wage is catching up with inflation. But, is that enough?

Inclusive hiring practices –  the right talent for a certain role might not be type of person who does well under a panel interview, or is asked to stand up and present, or is given no prior information about the interview environment or questions they might be asked. The traditional interview process funnels people down very similar routes – which means potentially losing out on brilliant employees who would be able to demonstrate their abilities with some more inclusive thinking about the interview process. We have seen charities embrace this in particular – where they can’t compete on wages, they can compete on candidate experience. Provision of questions in advance, off-site neutral interview locations and flexibility on work location and working style help widen the talent pool to include people previously being selected out.

Now for the good news! It’s not all doom and gloom, recent reports suggest that more companies are feeling confident they will be able to hire the talent they need in Q4 and going into 2024. The key to success is flexibility and hiring for the right behaviours. Here at Waddington Brown, we are experts at getting behind the detail of the CV, understanding the candidate and working with our clients to see where we can look beyond the job description to find the right candidate fit. If you would like to discuss your recruitment needs (or any other People solutions), then get in touch on enquiries@waddingtonbrown.co.uk or 01473 359159.