It’s been an interesting year in the world of recruitment. With Covid restrictions coming to an end across the country and many of the mandates lifted, there has been a shift in the mindsets of both employers and employees. A lot of the job insecurities that were experienced by both parties have since gone. Employers are feeling more confident that their people will be in the office and the employees are feeling more assured that their jobs won’t be put in jeopardy because of mandates or other regulations around Covid.
As we all know, the borders have reopened and more candidates from overseas are coming into the market. This transition is still slow, and we hope to see more response from Immigration NZ in the coming months to fill the gaps faster in many sectors. However, we are seeing an increasing trend where job applicants from overseas are coming into the country with pre-approved work visas allowing them to work for any employer across the country. With time, this will hopefully start filling those gaps as these candidates enter the market.
Candidates working in the Information Technology space, however, have become accustomed to working remotely and a lot of them are looking for opportunities where they can work in a flexible environment. With businesses starting to adopt more requirements for being in the office, many candidates start looking elsewhere. Having said this, there are also those who enjoy the human interaction element of being in the office and prefer a hybrid approach with 2-3 days in the office.
Possibly the greatest anomaly of this perfect storm where Covid and border restrictions have completely changed the landscape for finding suitable talent is the fact that candidates believe they are in control. And they’re not wrong, in many cases, they are in control. In a candidate-short market, we’re noticing applicants securing multiple interviews within hours of starting their job hunt and getting job offers within a couple of days after applying for a new position.
The question that is arising out of this anomaly is whether there is enough screening going into the hiring process by some employers and whether the longevity of these candidates staying in the role is going to last. The worst part is that some employers are losing out on talent because the candidate has an opportunity to pick and choose from multiple offers, therefore handing the power to the job seeker.
Our advice in this market is to still go through the usual screening process but try to get in front of a candidate as soon as possible to engage with them and pique their interest in the position and your company. A fast hire isn’t necessarily wrong, but rather delving into the motivations of moving jobs for the candidate is key.
At the end of the day, offering exuberant amounts of money isn’t the only thing that will attract new talent or retain current employees. Strong relationships, flexible working, continuous opportunities to learn, and modern technology are most of the motivations for moving jobs.
We are all in a unique situation, where we have an opportunity to adapt to current trends and find a suitable solution to finding talent that benefits both employer and candidate.
Key Market Trends:
- Benefits are at front of mind for many candidates. This may include additional leave, flexible working, bonuses, and health/income protection.
- Most candidates are looking for flexibility to work from home.
- With fewer candidates onshore, companies are offering more money to local talent which has driven salaries up across the board.
- Long winded recruitment processes are costing some companies to lose out on the right talent. Speed is key.
If you would like to get in touch to discuss the needs of your business or have a chat about opportunities, please feel free to reach out to the Franklin Smith Technology Team.