With global unemployment currently at an all-time peak, the market is filled with candidates ready and waiting for a new opportunity. So the time could not be better for companies to invest and reach out to these candidates that are looking for a new job. Not only will these companies be able to help out those who are unemployed but they may also discover a vast pool of hidden talent ready and waiting for them.
In order to benefit from the rich talent pool available and make sure you are seen as an employer of choice, you will need to adapt your recruitment processes to the new normal, to showcase the positives and fit expectations.
Who to reach out for?
The good news for those who are looking to hire currently is the choice of quality candidates out there. With most industries being impacted by Covid19, you are most likely to find the right fit for your company, in terms of skills and personality, if you have the right recruitment strategy in place.
- Active candidates : All candidates who are actively-seeking a new job are more than likely working from home and have more time than ever to focus on finding a new role. These candidates who have been looking for a change are now less cluttered with work or business travel, so you can expect them to participate in your recruitment process almost instantly and be more available to working around your requirements.
- Passive candidates : With the uncertainty in some businesses or the ways some companies have been dealing with Covid19 internally, passive candidates are more likely to potentially become active. Also, with the increase in redundancies and the risk of potential downsizing across industries, candidates would not mind having an extra job option in hand. By making the right offer, which is a combination of fair compensation with a great work culture it could work out well for both you and the candidate, you could get those tough-to-convert passive candidates in no time.
Candidate’s goals change
We have seen in a previous blog how Covid19 has impacted the Job market and both employers and employees aspirations in the work environment. They can both benefit from those changes and more specifically businesses who are currently looking to hire.
It is important to understand that candidates ambitions and requirements have changed since the pandemic. The work/life balance has taken the lead over the sacrifices some employees were willing to make before Covid19. With schools being closed and employees being forced to stay at home, it’s probably a fair assumption that most of them have found a new way of living and working and have enjoyed spending more time with their close ones instead of spending hours commuting.
The “post Covid19 employee” will look for flexibility within its work environment: less commuting, flexibility of hours, days of home office, etc… But that also means, for most of them, spending more time working and being more focused as they don’t need to commute anymore.
Companies culture and benefits will also be looked at. With less time spent in the office and commuting, your future employees may agree to lower their salaries expectation in exchange to obtain other benefits.
For companies, this is a great opportunity to look into the business and review if what you currently offer is relevant to this evolution so you can attract the talents that will be the best fit for your business potentially at a lower cost. Also, active candidates who have been furloughed then made redundant, will be really motivated to start working again and we can imagine they will be less tempted to change company as often, with a more faithful approach to the company they will join in those difficult times.
To conclude, with the current situation and its impact, there are many more candidates open to opportunities in the job market, quality candidates who are motivated, hungry to go back to work and who will remember the company that gave them the chance to get back to it after a difficult time. If you make sure you have the right culture and benefits in place in your business and the right recruitment strategy, now is definitely the best time to hire!
Next week we will be publishing Part 3 – How to Attract your top talent in 2020
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