Every day, I collect the number of jobs listed on SEEK.com.au for Perth, Western Australia. The graph below illustrates how job vacancies have been dropping significantly and steadily over the past few years. The mining boom began to end in January 2012 and by August 2012, it was truly over. The Perth job market has not recovered despite some improvement.
What does this mean for you and your recruitment drive? Well, there are more available candidates if you need to fill a vacancy. “Hurrah”, you may say. However, this is not necessarily the case.
By and large, the best candidates are the employed ones. This is what LinkedIn is telling recruiters, and why we need to spend $8,000 per year on their recruiter license. There are always exceptions, and it is not always the case, indeed, far from it when a company or a whole division shuts down in one massive layoff of employees. Leaving these situations aside, companies do try to retain the very best employees they can in a period of redundancies.
The reason is simple. Let us say a company has 25 employees and need to let five go, which ones do they choose? They are likely to choose to keep the best talent, those who are more likely to make the organisation successful again. These employees are key assets.
Therefore, the best candidates largely remain employed, well looked after and very busy. They must take on the duties of departing colleagues’ and they may see as an opportunity in itself (i.e. more responsibilities). Therefore, they typically are not in the job market.
We are now in a sales process, and we must act like salespeople, which is different to normal recruitment behaviour. The vacancy should be presented as a unique opportunity and not one to be missed. Sell it!
Convert job descriptions into career opportunities. Get the imagination of candidates flowing and make it “wow”! Focus on challenges and opportunities: the positive long-term impact on their lives; their long-term happiness. Tune into the benefits of a career move to sell on benefits, not monetary compensation to sell on price.
Let us present each vacancy as a rare opportunity with unique benefits. If the conversation starts to revolve too much around monetary compensation then the wrong candidates will be attracted, or the right people will move but for the wrong reasons.
The outcome remains the same, and that is that the employee will not last long. The amount of money wasted will be immense with opportunity/indirect costs at least three times higher than the monetary remuneration.
It is amazing what extraordinary talented employees can accomplish. Attracting the right employees could be the difference between success and failure.
Christian MadsenManaging Director11 Recruitment
To receive my next blog just click Subscribe
Please log in again. The login page will open in a new window. After logging in you can close it and return to this page.