The evolving market

It’s that time of year again, new budgets have been created or there are now some additional funds for a lot of businesses to hire that head they lost not so long ago due to the downturn in business, or because they are in a position of growth. Many of my clients are hoping to recruit, or have already initiated their searches and this has created a merry go round of great candidates and roles, but it also means the market has changed dramatically.

I recently read an article written by an ex colleague of mine stating he misses the recession but the massive point is that if you found a good candidate more often than not you could gain some sort of exclusivity with them, but now, the market moves so quickly you really have to make sure you are moving on them as quickly as possible as a good candidate will not be around for long and will have numerous options. In current times this means changing the way we have worked. At NLB we have realised this change and tried to reduce the time between seeing a candidate CV and getting them through our registration checks which include a face to face interview. Interviewing a candidate face to face is standard practice in our industry and increase confidence in a candidate’s ability, so it is well worth completing. Due to the wonders of the internet and 4G we use video conferencing to complete, probably, around 50% of our interviews now and this reduces the time between advertising, application and registration hugely. Don’t get me wrong, I enjoy meeting people at our offices, but the chance to see somebody quickly cannot be underestimated and I have made numerous placements in 2015 alone using this method.

Another change, again related to speed, is the amount of companies happy to do a one top interview, reducing their chance in losing that great candidate. This means all decision makers meeting the candidate at once which can increase pressure on the individual but a good candidate will be able to take this. My biggest and single worry with this one stage interview is that it’s good to gain an average of that person, as one interview may be amazing but the next just OK. If the next time you see them after the first interview is their start date, and they aren’t the same person, you could be in a sticky situation. Fortunately, due to us interviewing our candidates, it means there is a two-step process and we can mix our views with the clients at that point and we have a bit of security however I still prefer a client to see a candidate twice unless it is a temporary opportunity.

On interviews and one stop shows, I recently had this experience where in the first interview my candidate did well but knew they could have done a lot better, fortunately the client really liked them and was happy to see them again, at second interview they shone and improved on all the areas they knew they let themselves down on. This impressed my client as they saw the individual could take critique and do something about it. Even just a year ago this candidate would have failed at first stage because of the volume of individual out there but now good people do get a second chance and we as recruiters are the ones to push this (in the right way of course).

These are only three points which have changed but it is worth keeping in mind as both candidates and clients that speed is of the essence. A good candidate will not be around long and if they are available to start immediately then as a client you will have to move fast as other businesses will, and will get their ahead of you if you don’t. Money and benefits are a separate issue but I will try and cover that next week!

If you have any feedback please feel free to e-mail me us and we will try to include some of your views next time.