Recovery
  • Publish Date: Posted 9 months ago
  • Author:by Hayley Davis

4 successful strategies for securing talent during the global recovery

Over the last five months, organisations across the globe have made extraordinary changes in their working practices in response to COVID 19 and Talent Acquisition has been no exception. Whilst many companies have temporarily halted their hiring, others have accelerated structural changes, invested in L&D and grasped the opportunity to attract and onboard the most capable individuals in the market.What we cannot ignore is the effect that COVID 19 has had upon the international landscape and the way in which people view their career. Priorities have changed, travel restrictions enforced, and sponsorship/visa processes reviewed. As we begin to observe some ‘green shoots’, Cedar Europe has used our observations to provide the following tips to increase hiring success.1)Understand that the candidate pool has shrunk and embrace it.To quote a recent report from Deloitte “There’s a paradox of scarcity among plenty ... today’s high unemployment rate does not mean the talent will be there when you need it.” Whilst career development remains a core driver for many, COVID 19 has undoubtedly brought a number of health, social and economic factors into the spotlight meaning many will be reluctant to move. On a European level, this may reduce people’s willingness to consider cross border relocations.It is encouraging to see that many Cedar clients are responding to a decline in candidate availability by choosing to complement rather than replicate the skills set of their existing team. This in turn has led to an increase in the consideration of local talent that may have previously been overlooked in preference of an international hire.2)Show flexibility beyond home workingThe expectation of employers to offer increased home working is greater than ever with Vodafone discovering that "Over 75 percent of companies worldwide have introduced flexible working policies to enable employees to vary their hours and use the latest technologies to work remotely". This of course goes a long way to ensuring safety at work, reducing exposure to public transportation and providing much-needed assistance to those who suffered from a reduced provision of childcare.There are however many other factors employers need to consider, particularly when targeting international talent. For example, candidates who are required to relocate for a new career opportunity may seek reassurance of their ability to leave a host country following a change in public health. Others will request a reduced probation period to ensure job security, or some form of financial compensation should they walk away from a significant redundancy package.3)Be ready to sellIt is clear from the market that as we enter a stage of recovery, there will be an increased pressure upon certain functional areas. As recently noted by Deloitte "Managing procurement risks and cost need to be the priority to adjust to the new economic reality". As a result, we can expect the competition for talent to be high. Those in possession of niche skills set will undoubtedly be approached by multiple organisations therefore it is paramount that organisations are prepared to sell to candidates. Hiring managers would benefit by presenting not only the opportunity but the organisation itself and providing time for candidates to ‘interview’ the business and discuss topical issues such as sustainability.4)Be prepared for counteroffersAs we navigate our way through the global pandemic, it stands to reason that employers will fight to retain their best people. Hiring freezes may prevent leadership teams from replacing those who exit therefore the presentation of counteroffers is likely to increase. To prevent this from becoming problematic, organisations should place a stronger emphasis upon candidate motivations during the interview and be ready to offer at the higher end of salary banding.

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Over the last five months, organisations across the globe have made extraordinary changes in their working practices in response to COVID 19 and Talent Acquisition has been no exception. Whilst many companies have temporarily halted their hiring, others have accelerated structural changes, invested in L&D and grasped the opportunity to attract and onboard the most capable individuals in the market.

What we cannot ignore is the effect that COVID 19 has had upon the international landscape and the way in which people view their career. Priorities have changed, travel restrictions enforced, and sponsorship/visa processes reviewed. As we begin to observe some ‘green shoots’, Cedar Europe has used our observations to provide the following tips to increase hiring success.

1)Understand that the candidate pool has shrunk and embrace it.
To quote a recent report from Deloitte “There’s a paradox of scarcity among plenty ... today’s high unemployment rate does not mean the talent will be there when you need it.” Whilst career development remains a core driver for many, COVID 19 has undoubtedly brought a number of health, social and economic factors into the spotlight meaning many will be reluctant to move. On a European level, this may reduce people’s willingness to consider cross border relocations.

It is encouraging to see that many Cedar clients are responding to a decline in candidate availability by choosing to complement rather than replicate the skills set of their existing team. This in turn has led to an increase in the consideration of local talent that may have previously been overlooked in preference of an international hire.

2)Show flexibility beyond home working
The expectation of employers to offer increased home working is greater than ever with Vodafone discovering that "Over 75 percent of companies worldwide have introduced flexible working policies to enable employees to vary their hours and use the latest technologies to work remotely". This of course goes a long way to ensuring safety at work, reducing exposure to public transportation and providing much-needed assistance to those who suffered from a reduced provision of childcare.

There are however many other factors employers need to consider, particularly when targeting international talent. For example, candidates who are required to relocate for a new career opportunity may seek reassurance of their ability to leave a host country following a change in public health. Others will request a reduced probation period to ensure job security, or some form of financial compensation should they walk away from a significant redundancy package.

3)Be ready to sell
It is clear from the market that as we enter a stage of recovery, there will be an increased pressure upon certain functional areas. As recently noted by Deloitte "Managing procurement risks and cost need to be the priority to adjust to the new economic reality". As a result, we can expect the competition for talent to be high. Those in possession of niche skills set will undoubtedly be approached by multiple organisations therefore it is paramount that organisations are prepared to sell to candidates. Hiring managers would benefit by presenting not only the opportunity but the organisation itself and providing time for candidates to ‘interview’ the business and discuss topical issues such as sustainability.

4)Be prepared for counteroffers
As we navigate our way through the global pandemic, it stands to reason that employers will fight to retain their best people. Hiring freezes may prevent leadership teams from replacing those who exit therefore the presentation of counteroffers is likely to increase. To prevent this from becoming problematic, organisations should place a stronger emphasis upon candidate motivations during the interview and be ready to offer at the higher end of salary banding.

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