There’s been a seismic shift in the world of work over the past two years. We’ve been through The Great Resignation. Now, we’re going through what’s been dubbed The Great Rehire. Where the disruption in the employment market comes full circle, and the employees who left unfulfilling roles are searching for the next step.
Competition out there for skilled employees is fierce. One thing is for certain – if businesses aren’t responding to change and learning to adapt to candidate expectations, they aren’t going to get a look in.
It used to be that candidates simply wanted a remuneration package… And they still do, naturally. But now it’s so much more complex.
What exactly is it that candidates expect from the job market?
People are rethinking how and where they want to work
This means more than simply wanting home working to continue. Working from home isn’t without its challenges, but readjusting to the office environment isn’t for everyone either. Some people prefer one over the other. Most people would like a mix of both. The camaraderie and relationships that come with office-based working, and the privacy and flexibility that comes with working from home.
Does home working even cut it anymore? The rise of the digital nomad demonstrates that as technology erases geographical boundaries, people don’t see why they shouldn’t have the freedom to live and work anywhere. If you can work anywhere with a secure internet connection, do we even need to take our annual leave entitlement to leave the country?
The takeaway here is that people just want more say in how, where and when they work. And at the very least, they expect a solid rationale as to WHY business leaders make decisions based on working location.
People value a learning culture more than ever
Today’s workforce expects to work for an employer who encourages them to learn and grow. In fact, the number one reason that people leave their jobs is due to a lack of learning and development opportunities. A survey by LinkedIn found that 94% of employees would stay with a company longer if they showed commitment to helping them learn.
Creating a learning culture in your workplace doesn’t mean establishing huge training budgets. Though when businesses have downsized premises and reduced overheads due to remote working practices, it often makes sense to pour those resources into the L&D pot. These funds can then be used to create individual training budgets for staff or to provide learning “shops” that allow employees to select the training opportunities they feel would be most beneficial to them. The future of L&D is all about giving people ownership of their own learning.
There’s reduced patience for waiting
The job market is so fluid and fast-moving at the moment, and part of the reason for this is the injection of younger millennials and older generation Z into the workforce. That, and as times change, none of us is accustomed to waiting for things anymore. Good candidates know that the market moves fast, and won’t hang about waiting for lengthy recruitment processes. Streamline and automate your whole recruitment timeline wherever possible.
The promise of the four-day week
There are obviously sceptics. But, the country took a huge step towards the adoption of a four-day working week this month as formal trials that will continue until the end of the year have started.
Many businesses who aren’t taking part in the formal trial are also experimenting with the four-day week. The aim is to reduce employee burnout and improve retention rates. The theory behind the trial is that happier, more committed employees who are well-rested and content are more productive during their on-time. Theoretically, this means they should get more done in four days than tired, discontent employees can in five. We’re interested in the results!
There’s a focus on support, well-being and happiness
Getting paid isn’t enough anymore. People want to be cared about. The workforce now has expectations for employers to care about their wellbeing and help them avoid stress and burnout. Candidates are increasingly likely to be drawn toward businesses that invest in their people. For example, 58% of employees place importance on wellbeing-related perks like wellness days, meeting-free Fridays or mental health support schemes. Wellness perks say a lot about a company’s overall atmosphere and culture. This leads us to…
It’s all about culture
And in a different way. Whereas culture, before, was about “fitting in”, now it’s about inclusivity and caring about people as individuals. Employees want to feel invested in and like they are part of a community.
Creating a culture in businesses where many of us are working from home can be a great challenge. But putting more effort into culture-building schemes and exercises at work can pay recruitment and retention dividends. Jobseekers are passionate about cultural issues like leadership style, trust, inclusion and social responsibility.
As trusted recruitment professionals, we are in the privileged position of garnering recruitment market insight from both sides of the playing field. Call us to discuss how your offering compares with candidate expectations.