1) Location affects your ability to attract talent : The UK was recently ranked third in the Global Talent Competitive Index by French Business School INSEAD, behind Switzerland and Singapore. Cardiff was the highest ranked UK city in 11th place while London and Birmingham featured in the top 20 in 16th and 17th places respectively. Companies based in those cities can expect to attract more qualified candidates, over other areas which may find it harder to the find the skills their business needs. The UK’s flexible labour market and external openness contributed to its high rank (up four places from last year). The index examines a country’s ability to develop, attract and retain skilled professionals.
2) Salaries : Salaries are on the rise this year and again this varies by region. CV Library recently published a list of the cities experiencing the highest salary increase. Cardiff also topped this list with the biggest recorded rise in average pay (a 14.9% increase to £33,819), followed by Edinburgh and Manchester. Be prepared to pay for talent as the skill shortage continues to affect many sectors. Your recruitment metrics will give some indication of the quality of your hires and average salaries.
3) Include digital training : Training for digital skills is vital to ensure your business remains competitive yet one third of employees are not given sufficient training to take advantage of digital tools. Quality of training also matters - nearly a quarter feel the training provided is either poor or irrelevant. The government’s State Of The Nation report predicts a shortage of three million highly skilled workers by 2022. Offering relevant training as part of your job offer will improve your ability to attract talent.
4) Competitive industry : The top 5 recruitment sectors for growth this year are predicted to be IT, engineering, construction, gas and energy and accounting and finance. These predictions are broadly echoed by Glassdoor’s top 25 best jobs in the UK for 2017. Compiled based on earnings potential, job satisfaction and number of vacancies, the list features the job of HR Manager in 5th position! Knowing which jobs are in highest demand will help you to plan your recruitment strategy and position your employer brand and offer accordingly.
5) Offer security : Job security is consistently ranked as the number one priority for applicants in today’s jobs market, including graduate talent . Your employer brand will play a significant role in convincing qualified candidates to apply to your job post. A reputation for low pay, poor treatment of workers and zero hours contracts will have a negative impact. Again, your recruitment software will reveal your most successful job posts and enable you to analyse responses and adjust your strategy.
6) Plan for shortages with HR technology : Depending on the outcome of Brexit, UK employers will need a contingency plan in place to compensate for a limited labour pool if access to EU migrant workers is restricted. The extent of the UK’s reliance on EU workers was revealed in the ONS’s latest statistics on unemployment.
In July to September 2016, 'the number of UK-born people working in the UK rose by 37,000. The number of non-UK born people working in Britain rose by 430,000'. The CIPD reported that the healthcare sector may already be feeling the effects of Brexit as online job searches from Eastern Europe for health and social care jobs fell by a reported 17% after June last year.
Support your hiring process with HR technology that enables HR to focus on planning for potential skills shortages. Act now to address problems with the candidate experience, employee engagement and wellbeing to minimise recruitment challenges in the event of a hard Brexit.
Improve your candidate response with world class recruitment software to help you hire better faster. Start your 30 day trial with Advorto today.