How well do you really understand the needs and motivations of the job seekers in your sector? Perhaps not as well as you might think.
At a recent recruitment expo we attended one of the speakers shared data from a very compelling study which revealed that what recruiters think candidates want out of a job is often quite at odds with what most are looking for.
The research found that 70% of recruiters interviewed said that advancement was what candidates most sought in a role, followed closely by money and work-life balance. Interestingly, when the researchers asked candidates what they most looked for from employers, they cited the same three things, but in a completely different order: compensation, work-life balance, and advancement.
Just as telling were the things that candidates cited as important that recruiters hadn’t even mentioned: over 20% of all candidates interviewed said that company ethics, working from home, and commute were important factors, but none of these even appeared on the recruiters’ radar.
If we’re not truly understanding what is important to candidates, then we’re missing an opportunity in how we can message to them, thus enabling our marketing to work more effectively.
To help you develop your talent pipeline for 2019, here are 7 things candidates are currently looking for in today’s market.
1. Competitive Compensation and Perks
Regardless of generation, gender, and geography, employees want to be compensated fairly for the work they do. However, compensation needn’t be thought of only in terms of monetary value.
Candidates are becoming increasingly concerned not only with the basic salary they are offered but with all the other perks that they may or may not be offered as part of their contract. A robust pension package, private healthcare benefits, gym membership and other rewards are all valuable incentives which can help to recruit and retain talent in a candidate driven market.
Together with a competitive salary, perks go a long way in showing employees that they are valued.
2. Flexibility & Work-Life Balance
It’s clear that the strict nine-to-five workday is outdated – and it won’t help employers attract or maintain today’s top talent. The 2018 Global Talent Trends study found that 51% of employees wished their company offered more flexible work options.
No matter the industry, flexible working hours, remote working opportunities, and generous holiday packages are increasingly on the wish list of many job seekers.
A study on the benefits most valued by job seekers published in the Harvard Business Review revealed that eighty-eight percent of respondents were more likely to seriously consider a job offering flexible hours, while 80% stated that having more vacation time was an appealing perk.
3. Training and Advancement
Training often goes in tandem with advancement and career growth; you can’t really have one without the other. Opportunities for professional development offer many benefits to both employees and employers, from increased retention and healthier company culture to improved efficiency.
Employers who offer clear career paths and are prepared to invest in continued professional development for their staff are likely to attract and keep the best applicants because it shows that a company is invested in their future. Staff are more likely to leave because of lack of opportunities than for any other reason.
4. Great Culture & Collaboration
Fostering and encouraging a collaborative culture can have many positives, from building a cohesive and empowered team to nurturing creativity. Great employees want to work in a supportive and collaborative environment where they can thrive creatively.
Just as with providing perks and opportunities for professional growth, creating and maintaining a safe, accepting and collaborative culture for your employees will go a long way in showing how much you value them. You can do this by encouraging collaboration and recognising your employees for their contributions and achievements.
5. Company Ethics
In addition to company culture, a company’s values convey a strong message, and it’s important for employees to feel like their values are aligned to those of the company. Regardless of your industry, adhering to high ethical standards is more important than ever in retaining employees.
Creating a culture that nurtures employee well–being, encourages hands-on learning and forgives mistakes can make candidates believe that your company is where they want to be, which will increase both retention and productivity.
6. Sense of Purpose
Perhaps the most underrated aspiration of today’s job seekers is the desire to work with a purpose. Many of today’s job seekers would be willing to give up certain perks in exchange for more fulfilling work.
Unfortunately, it seems that offering employees a sense of purpose is overlooked by many companies in today’s profit-focused world. Without a sense of purpose, it’s difficult for employees to connect with their work and their company.
In addition to increased retention, ensuring your employees feel a sense of purpose in their work will boost productivity, morale, and overall job satisfaction.
7. Accessible leadership
Today’s professionals want to connect and work closely with company leadership. Job seekers are looking for a company culture that values employees at every level, where managers and team members work together to achieve their goals.
You should, therefore, encourage your employees to communicate openly and often. Invite team members to discuss any topic, and check in regularly with each employee to discuss and diffuse problems, concerns, and conflicts.
By building relationships with employees based on mutual respect and transparency, you will set the tone for a positive company culture, where leadership integrates into the team and builds meaningful relationships with each team member.
JobFitts Consultants are a specialist provider of professional Recruitment Services for the Financial Services sector and related suppliers in Australia. Since 2003 we have recruited and placed a breadth of operational roles at all levels from HR, Accounting, Marketing and Customer Service/Frontline.
To find out more visit our website at JobFitts here or call us on (02) 9220 3595 or email here.