Wednesday, October 4, 2023
We in the wonderful world of accounting, numbers and high finance have seen a decrease in roles when we look back year on year on year. Yes I hear you say, time to have my pick of the candidate litter! Or is it?
In our previous State of the Markets, we have explored the draw that Australia has (see here) and the departure of candidates to do their OE in record numbers. (For more reasons than just they were restricted on movements during COVID). Factors such as work-life balance, opportunities for growth and salary (especially with cost of living) have all come into play.
Yes, we have some wonderful candidates and people coming in to Aotearoa, but has it been a straight swap of like for like? An elongated visa process hasn’t helped either so in some ways the pool of talent still sits at the same tide level. You might find yourself asking, how do you retain people, and attract the right talent for your role?
Well firstly, when it comes to selling the role you need to think, what is compelling? What will entice and lure ‘em over to your brand?
A good Recruiter will know you, your management style, the team culture, the journey you’ve taken the team on, what you’ve implemented, and any efficiency improvements you have made. As part of the briefing process, team benefits will be covered and providing a cheat sheet to your Recruiter is an invaluable resource. (This is a huge help when outlining what you have to offer while eliminating any confusion, i.e. “yes, we offer Health Insurance, but no we don’t offer Pet Insurance”)
From there you'll start to receive applications and interested candidates. Once you’ve gone through the formal part of the interview with them, it is a prime opportunity to reiterate your journey, where you could see them fitting in and the career pathway the candidate could have. Build the excitement and speak to the benefits, the social aspects, the training, development and growth. Consider what makes your business exciting, why you stand apart from your competitors and how you'll help them on their journey. This will help make you memorable to candidates, and help you stand out from competitors who aren't keeping up with the game!
But what about the elephant in the room? Counter offers!
Yes, these are still very much a real thing in 2023 and just like in 2022 when we hit an unprecedented number of counters, it has rolled on. Great teams want to keep great people right? Flattery goes a long way, just like an unexpected, out of sync pay rise. All things we’ve observed this year to date.
Should I stay or should I go now?
One of the more common questions we're starting to see, from both active and passive candidates. Should they move on, or should they hold and see what the market does? Low business confidence, the looming election (with some form of change in government, or government spend) and rising interest rates has resulted in a talent pool that is much less passive.
So, if you have a role - sell, sell, sell! - and speak to experts* to get much needed support in filling your role!
*Experts like us here at Find!
Thanks for your interest in what we do here at FIND. We love meeting and helping amazing kiwis every day and will always do our best for our clients and candidates. We've been simplifying the recruitment game since 2008, so don't hesitate to get in touch if you need our help!