ANTHONY WHYTE- TALENT
Where to from here? Whether you're a business leader, hiring manager, CPO and/or talent acquisition or just a humble employee looking for your next career move, everyone is asking the same question ‘where to from here?’ Since COVID hit our shores in early January 2020, many businesses have flourished and gone from strength to strength, primarily the tech sector. Others were, and continue to be hit hard and, in many cases have been decimated such as the local café, pubs, restaurants and the big one, the airline industry.
Anthony Whyte General Manager, Talent APSCo Australia Vice-Chair
Then there is the health/medical sector that sits somewhere in the middle with employees experiencing a myriad of emotions ranging from fulfilment to discontent and sadness. Many staff have resigned due to burnout or fear of contracting COVID; others forced out because they aren’t vaccinated while those that remain continue to work horrendously long hours day-to-day.
As we slowly return to some level of normality in both our personal and professional lives, my concern is that there isn’t a quick fix that many people are seeking. Once again, a lot of factors are in play as highlighted by a few examples below: We are experiencing a global shortage of talent across numerous industry sectors. The slow opening of borders will assist in the migration of people and much needed skills but will by no means be the solution. Candidates remain savvy, many chasing the dollars in a lucrative market not seen before, while others are demanding flexibility and now many candidates are pushing the envelope by seeking both. Employers on the other hand continue to struggle on two fronts: 1. They don’t have deep pockets, nor are prepared to increase salaries by 20-30k or higher. 2. They don’t have a clear EVP, hence aren’t selling themselves well compared to other switched on, progressive organisations. The emerging talent pool is thin as the number of qualified graduates is small and no match to the high number of vacancies. Visa processing backlogs are at record highs. There is a distinct shortage of rental properties for new migrants, making moving states and countries that little bit harder. On top of all this, even when you offer a candidate a role, the likelihood of that person accepting is now below 50%. The majority of good candidates have several opportunities on the go at the same time with many receiving multiple offers, giving them choice of who they commit to which again highlights who is in the driving seat in the recruitment process. In summary, the talent pool is finite, so ensure that you: Have a clear EVP that you can articulate to your current and potential employees. Offer flexibility (WFH/WHO/Remote) as your competitors are. Make sure that the role is challenging and rewarding to keep your workforce engaged. Truly value each and every one of your employees. Engage with an industry specialist if you need to outsource your recruitment needs. Let’s see what the remainder of 2022 throws at us.
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