How to Attract New Talent During the Great Resignation?
For the first time in history, there are more job vacancies than unemployed people in the UK.
Between January and March 2022, the unemployment rate fell to 3.7% which is the lowest in almost 50 years. At the same time, job openings exceeded 1.3 million, according to the Office for National Statistics (ONS). However, wages are often failing to keep up with the rising cost of living.
While the current job market is complex, many professionals are still searching for new roles – especially ones that allow for hybrid and remote working. ONS found that a record-high number of people changed jobs through resignation rather than redundancy. During the Great Resignation, sometimes called the Great Reshuffle – in the last nine months, almost 3 million people in the UK have moved jobs.
Candidates and job seekers have more power in the market than ever before, but for employers, it means that it is even harder to attract and retain talent. So, what are some of the ways to turn the talent problem into an opportunity?
Develop your Employer Value Proposition
To put it simply, Employer Value Proposition (EVP) is your organisation’s core values and benefits that make up the wider employer brand.
To demonstrate why your company stands out from the crowded marketplace, think of it as a promise between you and the potential new hire. What can your organisation and culture offer (aside from salary) in exchange for their expertise and talent? Perhaps it is a clear career progression path, mentoring and coaching, or lucrative learning and development funds? Be aware that holiday allowance and basic pension are not perks – they are legal requirements.
