How Working From Home Has Affected The Candidate Market
With everyone put on a strict work from home order with last years’ Covid-19 pandemic, the market swiftly altered forever. Everyone has become accustomed to working from home, and most have favoured it to going into the office. Alongside this, there have been many redundancies in certain industries as they struggled to stay afloat in these testing times.
Both of these factors have meant we find ourselves in a very candidate heavy market where the perk of working from home has lost its competitive edge as it is being thrown at candidates far and wide by most companies. This poses increased difficulty in the hiring process when sourcing candidates for the roles on offer.
A couple of years ago working from home was the ultimate perk and would have enticed a large candidate pool. Fast-forward to 2021, and this almost pre-requisition of working from home has meant we find ourselves working with a slimmer market of candidates, as candidates now bypass this as a "perk" and expect it as a mandatory entitlement at work.
What should I do to attract candidates?
What recruiters at Concept Resourcing are finding is that companies are offering the work from home option with 2-3 days in the office within their job advertisements, as they think this will entice potential candidates to their company. However, what companies need to start doing is improving their overall employee value proposition (EVP) to entice candidates and offer additional benefits to the work from home "perk".
Increased Salary: Ways that companies can do this is an increase in pay, as this will make them stand out from the competition. What recruiters are finding is that in London companies are offering higher pay than others, but while still offering WFH for a couple of days a week. They are therefore more successful in hiring candidates, because of the increase of wage for the same job.
High-Quality Training: Including high-quality training in the package not only allows you to stand out from other competitors, but also allows you to ensure your employees skills are on top form to do their jobs to the best of their ability and in turn, enhance the overall performance of your company.
Flexible Working Hours: Offering staff flexible working hours, this allows them to take control of their working week and maintain a healthy work/life balance. This perk also shows that you trust your employees to manage their own workload and can create enhanced working relationships.
The market is ever-changing, and candidates’ requirements are becoming clearer. In order to stay ahead of the curve and ride out this challenging period, recruiters need to be able to constantly adapt their approach and acquisition style to compete with other companies.