An economic boom is on the horizon. Don’t delay your recruiting plans – act now or risk being left behind.
A little direct? Perhaps, but it is all too common at this time of year for businesses to start planning for the New Year, instead, take action now and start your recruitment campaigns now putting you ahead in January when many more businesses will then begin their recruitment campaigns.
2021 is set to be one of, if not, the most competitive years, when many projects that had been delayed will be caught up with. Morgan Stanley projects strong global GDP growth of 6.4% for 2021 while the excitable mainstream media predicts the start of a “roaring twenties” era for us all. With so many sectors expected to rebound at the same time, never, in modern times at least, has the commercial playing field been so level for so many. Titans will fall and minnows will rise as our riled and turbulent economy starts to settle into a fresh new order.
The question is, are you ready for the most aggressive commercial race of our age?
A Level Playing Field Means Fierce Competition for Talent and Resources
If most markets are set for simultaneous phases of rapid growth – being first having never mattered more. In critical areas of the IT recruitment market, COVID-19 has had little effect on talent shortages and so, come 2021, after the initial feeding frenzy is over, do not expect IT recruitment to be easy or less time-consuming. The best advice is to act now and get in touch with us before the frenzy begins.
Rising National Unemployment Rates Won’t Mean More IT Candidates
Don’t be lulled into a false sense of security believing that rising unemployment means it’s a talent buyers’ market. Sure, if you are recruiting a team of production operatives or account managers, then yes, you’ll be able to simply post an advert and watch the CVs flood in. However, if you are chasing a first-class .Net Developer, BI Analyst, or Cloud Infrastructure Engineer you’re in for a shock. In 2021, demand for niche talent will rise sharply making it even harder to attract and secure the best people. Even if you are not quite ready to recruit, act now, and start the process. Contact Langley James in advance to start building talent pools and setup some early conversations to get ahead of the game.
Review Your Recruitment Process ASAP
2020 has caused hiring freezes, multi-signature procurement decisions, and cautious, fear-driven process extensions. In short, current business action is slow. Most recruitment assignments that do make it past the ‘sign-off’ stage are faced with increased process stakeholders, extended candidate interview hurdles, and general hesitation. Given what we have discussed above, how competitive do you think your recruitment process is?
Let’s be clear – you are competing with Hiring Managers with flexible budgets and the power to offer a candidate a job during or immediately after an interview. In talent, short areas such as IT, skill assessments, psychometric testing, and 3+ interview stages are luxuries that will slow you down and significantly reduce your chances of securing your candidate. We’re not saying make knee-jerk, ill-informed decisions. Far from it. Instead, be very clear on what you need, what you’re able to compromise on, invest time into creating a robust, high value but lean interview plan, and prepare to make offers quickly should you need to.
Plan for Competition with a Strong Offer Strategy
Before the sign off stage, talk to us at Langley James about the market and local talent competition. In skill short, high demand niche areas, failing to plan for recruitment competition is foolish. Assuming that going back to your management team, post-signoff, for more money is undesirable, pre-empt the inevitable with an offer strategy that includes an ability to negotiate and raise offers. In 2021, competition is going to be fierce.
To ensure your salary budget is in line with the market have a look at our salary guide which we publish monthly, these are the average salaries of what candidates are seeking and roles are advertised, you may need to consider paying more that the average, but we understand that is easier said than done as it may knock out the whole IT department salary budget.
While you read this, your employment competitors are already plotting to attack the talent market, which will include them trying to entice your staff. They too have powerful recruitment partners with extensive candidate networks and persuasive pitches. Putting off your battle plans until the new year gives them the advantage. By the time you’re ready to hire, they will have already engaged the market and may have already met many candidates some of which may be your own staff. Our advice is to start planning today and start taking decisive action.
Bottom Line – It’s December 2020 right now with plenty of working days until the 24th so, get ahead of the rat race and meet some candidates while they are available. With digital interviewing, it has never been so easy to put an hour aside to talk, so call Langley James and make a start. You will not regret it.
Give real thought to your existing processes and talk to us about them. They are meant to make your business run smoothly and efficiently so if your recruiting process is slowing you down causing a commercial disadvantage, consider changing it. The process is not law and is yours to change!
Speed is of the essence. Take action today.