Recruitment Agency Now

Navigation

Loading...
You are here:  Home  >  Industry Insider  >  Current Article

Attracting and retaining talent: keeping a competitive edge

August 21, 2014  /   No Comments

Anna Gibbons

Anna Gibbons looks at how employers can ensure that the best people want to work for them.

2014 has signalled the start of a significant change for the UK jobs market. As businesses begin to feel the effects of improving economic conditions, employees looking for a career move are no longer as cautious about flying the nest.

However, with this increased movement in the jobs market there is significant pressure on business leaders to review their employer brand in order to stay ahead of competition for retaining and attracting talent.

Our recent salary and market guide for the finance and accountancy sector revealed a growing number of companies are continuing to operate with cautious optimism. Coinciding with the recent economic improvements, many firms are now looking further into the future and realising the importance of a long-term recruitment strategy.

Current conditions

Emerging with the change in market conditions is a shift in the role of the finance professional. With the majority of CEOs in the UK coming from a financial background, employers want more than a technical skill set, they require commercially-minded finance professionals to work closely with the operational side of the business, and to understand the financial demands of the board.

Our salary survey highlighted the increasing scope for recruitment opportunities in the finance sector across the UK. In the North West in particular, finance professionals are being placed at the forefront of many business decisions, with companies expanding and investing across the region.

Although the upturn has significantly improved conditions for companies looking to hire and retain the best talent, the changes have brought about a series of challenges that need to be addressed by firms in order to remain competitive in an expanding market.

Keeping a competitive edge

In years gone by, many leading employers found they had to do very little to attract the best talent, as professionals aspired to work for a key brand and actively approached them. However, times have changed, and several factors have now come into play, meaning multi-million pound corporations have less power when it comes to generating recruitment leads. Today’s employers must be savvy to attract the best candidates to their business, as people remain a company’s greatest asset.

High calibre candidates are more in demand than ever before, with talented professionals now more likely to go with a competitor if an organisation takes too much deliberation time following an interview, or if they were not given enough feedback.

The most competitive companies are reviewing the candidate experience to ensure they make the best possible impression on the target audience. They recognise the potential for boosting their employer brand early in the process to ensure that they are acknowledged by the best talent in the marketplace, and that they don’t lose out to a competitor.

Brand building

It is essential for businesses to create the type of brand that candidates would want to work for, especially at a time when competition for the best talent is fierce. For this reason, forward-thinking organisations are making the recruitment process an integral part of their brand, usually through high-quality advertising, an efficient interview stage and a top notch induction.

Another important factor that could encourage candidates to apply for a position is through making technology a part of the company brand. Businesses are increasingly advertising for staff using social media, and catering to the needs of the on-the-go professional by ensuring their website is optimised for mobile use. While these may seem like minor details, this activity is becoming increasingly vital for organisations across all sectors looking to set themselves apart.

Staff retention

As much as hiring the right talent is important for companies, retaining key members of staff is equally valuable, if not more so. While this may have taken a backseat during the recession, employees are now feeling more confident, with 54 per cent of participants saying that they are looking to move jobs in the next 12 months. Our salary survey revealed private sector vacancies have increased in volume faster than they have in nearly two years, which is encouraging for those professionals who have previously been hesitant to look for new roles.

As a result, companies are perfecting the benefits package they offer to their workforce in an effort to retain staff. These can range from more holidays and bonuses to flexible working opportunities, while simple perks such as the use of a canteen or a free parking space are also making an impact.

Looking ahead

Although the prospect of competing for the best talent may seem a daunting task to hiring organisations, this process could actually present a valuable opportunity to take a closer look at strengthening the business as a whole.

Employer brand plays a crucial role in this strategy, not only in attracting new staff to the business, but also in ensuring the existing workforce is fulfilled, productive and committed to achieving success for the organisation.

Anna Gibbons is corporate communications director at Sellick Partnership

    Print       Email
  • Published: 10 years ago on August 21, 2014
  • Last Modified: August 22, 2014 @ 10:08 am
  • Filed Under: Industry Insider

RA Now TV

RA Now 2016 Preview

RA Now 2016 Preview

View all →

Your Voice

  • Oct 11
    Via @IOR_JoinUs on Twitter  Facebook accused of discriminating against women with male-targeted job adverts http://flamepost.com/u/lHi Read More
  • Sep 27
    Via @agencycentral on Twitter  Need an introduction to recruitment agency regulations? The laws and regulations recruiters absolutely need to know about. http://bit.ly/2N1ndyh Read More
  • Sep 13
    Via @greg_savage on Twitter People don't leave companies. They leave leaders! http://ow.ly/B8Fh30lNqjQ   Read More
  • Jul 19
    Via @recmembers on Twitter Google for Jobs launched today in the UK – in case you missed it, here’s REC marketing manager Michael Oliver's blog on how agencies can take advantage > https://t.co/1dHnR9P4Dl Read More

RSS News

Archive