Digitalisation & its impact on recruitment
The demand to go digital is stronger than ever before – but what does this mean for recruitment in the space?
During the pandemic, companies were forced to switch to remote working; those at the forefront of digitalisation made a smooth transition, whilst those that were behind the curve struggled. What is now clear coming out of the pandemic with the corresponding economic uncertainty, is the urgent necessity to go digital and enhance data-driven decision making.
With around 92% of industrial companies are already on their digital transformation journey, but at varying degrees of maturity, the demand to go digital has subsequently affected the need to hire to talent with the required digital transformation expertise. So, what does this mean for recruitment in the space?
A candidate led market
With the boom in demand for industrial activity and subsequently the number of sales, comes an increase in jobs needing to be filled. This has opened the market up for candidates, giving them more roles to choose from and putting the power in their hands of what they can ask for – including competitive salaries and packages, which continue to be a key motivator for changing jobs, particularly amidst the current cost of living crisis.
The pandemic has changed people’s approach to work and, in turn, raised expectations of what they want from work, and life in general. Candidates now have the potential to choose from roles across the globe – no longer being restricted to workplaces in a commutable distance. Taking this into consideration, candidates who are open to exploring a career change are now less likely to only engage in one process at a time, making the recruitment landscape even more competitive for companies looking to secure the best talent.
Whilst the opening up of the job market comes as great news for those looking for new roles, it brings a whole host of challenges for companies looking at growing their teams to meet new demands…
How exactly is this affecting the recruitment market?
Whilst the current market means there are many strong candidates available, it does also mean that securing a first-place candidate can be tougher. As there are more roles needing to be filled, the market currently allows candidates to be more selective, allowing them to discard companies not meeting their working requirements or salary expectations. Having the safety blanket of other processes to fall back onto, it’s not the end of the world if a candidate asks for a better deal and gets turned down, as it’s likely they can get what they’re looking for elsewhere.
Candidates are likely to be compelled by a company that has taken the time to understand their motivators, has a streamlined interview process and can provide an attractive offer. Those looking to move jobs will be seeking employment in top companies; one with a strong brand image and clear progression opportunities.
So, what can companies do to get candidates over the line?
Ultimately, companies need to sell themselves now more than ever – by keeping processes moving quickly and coming in at salary expectations, if not above, to secure a candidates’ acceptance.
- To match the pace of job offers, companies are moving fast to provide speedy feedback, availability for interviews and a short turnaround. The first 48 hour window is crucial – as many as 40% of job applicants are likely to lose interest if they don’t hear back from employers within that time frame, so those dragging out multiple interview stages may risk losing the best candidates.
- With most candidates being in multiple interview processes, companies need to be competitive in comparison to the market with salary packages, offering candidates their best and final offer from the get-go.
- Sticking to the salary theme, companies should be doing their best to match the salary expectations presented to them at the beginning or throughout the process. Low balling candidates once they’ve progressed through multiple stages is likely to have them accept an offer elsewhere.
Forming a comprehensive recruitment process with clear goals, stages, and strategy, is key to navigating the competitive nature of the digital transformation market – something that a specialist recruitment organisation, like FMC Smart Industry, can help with.
If you’re in the market and are looking to grow your team in response to the post-COVID boom, or simply wish to discuss how we can help your company in the future, please get in touch to see how FMC Smart Industry could help by emailing email@example.com.