Employers: where have all the candidates gone?

As UK employers face increasing frustration when searching for candidates to hire, we ask…where are all of the job seekers hiding?!
As the UK economy reopens, restrictions ease and there is a flood of jobs available, many employers, understandably, expected to be inundated with applications for employment.
But a recent survey has revealed that there is a reason that the talent has gone quiet. And the answer is simple. They don’t want a new job right now.
The facts
A mere 11% of workers currently on furlough, or not working, are urgently seeking a job.
So, where are the others?!
• Almost two-thirds of those on furlough aren’t urgently searching because they expect to return to their job when the job retention scheme finishes at the end of September.
• Currently unemployed talent are not urgently seeking work because they either have financial buffers, are receiving benefits or have a partner’s income to support them.
• Others have COVID-19 concerns and caring responsibilities.
• A third of all survey respondents want to wait until more jobs are available before starting a new position or want to take time off.

Advice for employers
With employers desperate for new talent, but the majority of the UK workforce feeling relaxed with no urgent needs, where does that leave you?
Our advice? Be patient.
The wind down of furlough is expected to have an positive impact on the job market. From the end of September 2021, employers who had support from the Government to pay their workforce for unworked hours, will now be responsible for paying for furlough themselves. And sadly, this means that many will face redundancy.

How employers should prepare
Here’s what you can do to prepare for the surge in job applications.
You’ll want to entice the best talent for your organisation from day one of their job search. If you don’t put in the work now, your competitor will snap them up first. So invest some time today and your efforts will pay off.
How?
Speed – Be quick to respond to applications, candidates won’t wait around for long.
Pay – It’s a competitive market out there so your rate of pay should reflect that.
Culture – While salary is important, so too is company culture, flexible working, benefits and perks.
Skills – Be open to transferable skills and don’t make your job ad too specific– it will put people off and you’ll be missing out on talent with valuable ‘soft skills’.
Training – If you have positions which don’t match what people are looking for, or their skill set, training and developing your current staff might be the solution.
Support – Recruiters help over 300,000 people leave unemployment for a permanent job every year, so business leaders should consider working with a recruitment consultant for the search and supply of the best talent on the market.
Mark Porch, Divisional Director at Omega says:
“Brexit, the pandemic and furlough – it’s been a tough time for employers. But it’s great to see the job market thriving once again.
We are seeing placements being secured on a daily basis. But we understand that some businesses are frustrated with the candidate-short market. They are desperate to hire and get back on track.
We believe that the end of furlough will provide a pool of talented people urgently seeking employment.
So, now is the time to put measures in place to expand the talent pool and snap up the new hires as soon as they are available.”

If you’d like to partner with a highly responsive recruiter who understands your business please call Omega today on 01453 827 333