Attracting candidates when job vacancies outpace unemployment - By Lizzy Turek

In the first few months of 2022, UK unemployment fell to its lowest level in almost half a century and there are fewer unemployed people than job vacancies. The Office for National Statistics (ONS) said the jobless rate stood at 3.7% in the three months to March, the lowest level since 1974, with fewer people out of work than there were job openings for the first time on record. The number of people unemployed for between 6 and 12 months also fell, to its lowest level on record (Live news updates Financial Times). ONS advise the increase in the employment rate was driven by the movement of people aged 16 to 64 years from unemployment to employment. However, there was also a record-high movement of people from economic inactivity into employment (Labour market overview, UK - Office for National Statistics - ons.gov.uk).

For businesses seeking workers, the number of vacancies reached a new record of close to 1.3 million. This is a reflection of a reduction in the size of the workforce, from post-Brexit worker rules, older workers retiring during the pandemic and a rise in long term sickness (Job vacancies outpace unemployment for first time - BBC News).

How can employers adapt and respond? 

Build your brand
90% of jobseekers would consider an employer’s brand before applying for a role. Building an image of an inclusive, flexible, good employer will significantly help you to recruit top talent and improve your recruitment strategy (How to attract and retain the best talent | People Management Jobs cipd.co.uk).

Improve your online presence
How candidates find new jobs has changed, with increasing online applications and job boards and many turning to social media to find their next role. The key to success is keeping people connected to your employer brand through shared ideas, news and relevant content on social media and website. Posting regular updates on what the company is doing, will make the company brand look more attractive and compelling to potential candidates (How to attract and retain the best talent | People Management Jobs cipd.co.uk).

Check your hiring process
Having a quick and an effective recruitment timeline is key so swiftly moving candidates through each stage and maintaining communication at all times can help to ensure a candidate does not lose interest.

Provide salary transparency
Providing salary information in job adverts is relevant to recruiters and direct employers who can leverage salary information to fill positions faster and more efficiently. Several countries are making moves to increase salary transparency by ensuring salary visibility to candidates before they apply (Salary information in job adverts: How recruiters can exploit it : The REC).

Offer an attractive salary
Offering a competitive and fair rate of pay will help to attract the right candidates in an extremely competitive market.

Promote company incentives
Offering a wider benefit packages including holiday entitlement and pension schemes as well as the culture of the organisation can help attract more candidates.

Promote flexibility
Offering flexible working arrangements including hybrid working (mix of working from home and being office based) will make you more attractive to potential candidates.

How can Thewlis Graham Associates help?

At Thewlis Graham Associates, we aim to give our clients and candidates a high-quality and supportive recruitment experience and we do this by:

• Dedicating time and energy to gain a proper understanding of the needs of organisations we work with and tailoring our service to meet these requirements.
• Using our expertise and experience as recruitment specialists along with our up to date knowledge and access to the market via our Recruitment and Employment Confederation membership to offer dedicated advice and support (About the REC).
• Building on our strong brand and developing a special relationship with each client, to deliver a high quality and personalised professional service.
• Engaging with candidates throughout the recruitment process, from start to finish, so they enjoy a positive experience with useful feedback and personal support.
• Taking time to explore the full potential of candidates, identifying transferrable skills and wider areas of experience, so that the very best appointments are made.

Lizzy Turek
Client Research Associate