So… What exactly is the ‘Recruitment Industry?’
In the words of leading B2B Analyst Francesco Salau, Recruitment “plays a critical role in matching skills with the businesses in need of them.”[i]
The Recruitment Industry is bigger than ever before, exceeding £35 billion in the UK. According to the Recruitment & Employment Confederation’s (REC) indicative forecasts, from 2020 to 2021 it is predicted there will be a 1.2 per cent increase in Gross Value Added of the industry, and a 6.7 per cent increase in the number of contractors on assignment each day.[ii] Clearly, the industry is thriving while other parts of the economy suffer the effects of an unpredictable past few years. Already, technological advancements have fostered the emergence of newly strategic and proactive recruiters.
To ensure this positive trend continues, and maintain its growth moving forward, the world of recruitment must accept that technology will disrupt traditional ways of the profession and embrace the likes of Artificial Intelligence to streamline processes.[iii] In other words, the shift toward Data-Centric Recruiting will have favourable outcomes for your business.[iv]
Considering a career in Recruitment? Here are 5 top tips for success from our very own recruiters…
Build great relationships – not only with clients, but colleagues too! Your network is your best asset, so lean into it.[v]
Listen more than you talk.[vi]
Celebrate the little wins – each new referral, new project, new potential client will add up![vii]
Have self-confidence – pushing yourself on and bouncing back from setbacks, not worrying about what you cannot control.[viii] Others will notice these qualities and respect you for it.
Be as organised as possible – there is a lot of information to process, find an effective way of storing it so you can quickly connect dots and plan your day.[ix]
How has Recruitment been impacted by the ongoing existence of Covid-19?
In February, Eric Friedman, founder and CEO of eSkill, wrote for Forbes predicting that the biggest problem for 2022 would be to “find and retain top talent.”[x]
As a Civil Engineering Recruitment company, Unite People has overcome unique hurdles: for more than a decade, experts have warned of a skills shortage within the UK’s Construction sector. Recent figures suggest a further 200,000 skilled workers are required to meet the demand of current growth. Brexit and Covid-19 combined have aggravated this shortfall, seeing many migrant workers return to their home countries.[xi]
As Q4 approaches, let’s evaluate how recruitment has adapted to meet such challenges, and how we can bounce back better from potential anguish.
The following successful trends have been identified – active recruiting, advanced screening tools and enhanced focus on the employee. The latter demands flexibility from the employee, says McKinsey & Company.[xii] Crucially, when hiring new candidates, be responsive to their needs and suggestions, whether this means offering remote work or adjusted hours, maintaining a high morale is key to employees’ retention and progression. Data collected supports this, citing that 82 per cent of women with children, 80 per cent of all employees, and an impressive 90 per cent of millennials prefer benefits over an increased salary, hinting that work-life balance has overtaken fiscal incentive when it comes to employee preference.[xiii]
Engage candidates early, even for entry-level roles. Build relationships with candidates to win them over competitors. Use smart assessments, not only to filter out unqualified candidates, but to ensure core behavioural attributes. A recent report from Zip Recruiter has revealed that over 90 per cent of employees cite soft skills as ‘critical’ when hiring new candidates, demonstrating how in-demand interpersonal skills are in the workplace.[xiv] Importantly, attitudes are contagious, as Chris Myers shares, reflecting upon his time as a CEO: “to master my emotions and set a positive tone for my company, I had to have a group of people around me who strengthened me and provided both insight and accountability when I faltered.”[xv] It has recently been proven in psychological studies that humans are hard-wired to find ‘like-mindedness’ attractive, so it makes sense to inject harmony into a business through hiring compatible candidates.
Moreover, not only are we drawn towards those of similar mind, but we become those whose company we frequent. Jim Rohn, motivational speaker, famously coined the phrase “you are the average of the five people you spend the most time with.” It’s true – we are influenced by our peers, whether deliberately or unconsciously, with greater implications than we realise. In fact, the World Health Organization lists the number one determinant of health as ‘environment’ rather than an individual’s behaviour or characteristics.[xvi] Think about the proportion of our waking hours spent in the office – our social climate at work really matters because, generally speaking, the majority of our week is spent amongst co-workers.
If you’re reading this and thinking that a shift towards remote working will diminish the importance of company culture, think again. Peer influence persists through channels such as virtual teams and social media, meaning it is not directly correlated to physical proximity, inundating even digital interactions.
Little surprise then, that in Unite People’s recent poll, 47 per cent of employees cite company culture as the ‘most important’ aspect when deciding on a new job.[xvii] The stakes are even higher when considering millennials uniquely, 65 per cent of whom give high regard to organizational culture, higher than for baby boomers.[xviii] (Glassdoor, 2020)
As recruiters, what does this tell us?
It reveals that the most valuable way to attract and retain talented employees is to instil an admirable company culture. Therefore, people skills are vital to successful recruitment.
A focus on diversity and inclusion is fundamental to your business’ success, as a simple web-search will reveal, repeatedly highlighting ‘employee retention’ as the primary benefit of a diverse workforce. Furthermore, diversity has been linked directly to profitability, says RETS Associates Principal Jana Turner. Turner claims that more diverse workforces breed innovation, invite more talent, increase customer satisfaction through relatability, and likewise attract investors who seek out businesses championing diversity.[xix] She makes a strong case, since 72 per cent of Generation Z highlight racial equality as the most critical issue, proving that your organisation must be inclusive to attract young talent.[xx]
[i] Francesco Salau, “UK Recruitment Market Report 2021,” Mintel, https://store.mintel.com/report/uk-recruitment-market-report
[ii] Stuart Gentle, “UK recruitment industry’s direct economic impact was almost £36 billion in 2020,” Onrec, https://www.onrec.com/news/statistics/uk-recruitment-industry%E2%80%99s-direct-economic-impact-was-almost-%C2%A336-billion-in-2020 5 Jan 2022.
[iii] https://www.digitalmediastream.co.uk/blog/recruitment-industry-trends-2018
[iv] Eric Friedman, Forbes, “Hiring And Recruitment Trends To Expect In 2022,” https://www.forbes.com/sites/forbeshumanresourcescouncil/2022/02/15/hiring-and-recruitment-trends-to-expect-in-2022/?sh=281ffaf3279e
[v] Leo Peat, Unite People, 24 Aug 2022.
[vi] Leo Peat, Unite People, 24 Aug 2022.
[vii] Ben Hague, Unite People, 24 Aug 2022.
[viii] Marcus Murray, Unite People, 24 Aug 2022.
[ix] Ben Hague, Unite People, 24 Aug 2022.
[x] Eric Friedman, Forbes, “Hiring And Recruitment Trends To Expect In 2022,” https://www.forbes.com/sites/forbeshumanresourcescouncil/2022/02/15/hiring-and-recruitment-trends-to-expect-in-2022/?sh=281ffaf3279e
[xi] Jonathan Greenhalgh, “The UK construction sector skills shortage – what you need to know,” Employment Solutions, https://www.emp-sol.com/blog/2021/05/the-uk-construction-sector-skills-shortage-what-you-need-to-know 19 May 2021.
[xii] “How COVID-19 has pushed companies over the technology tipping point—and transformed business forever,” McKinsey & Company, https://www.mckinsey.com/business-functions/strategy-and-corporate-finance/our-insights/how-covid-19-has-pushed-companies-over-the-technology-tipping-point-and-transformed-business-forever 5 Oct 2020.
[xiii] https://financesonline.com/recruitment-statistics/ ; “50 HR and Recruiting Statistics for 2017,” Glassdoor (2017).
[xiv] https://www.linkedin.com/news/story/show-off-your-soft-skills-5901714/
[xv] Chris Myers, Forbes, https://www.forbes.com/sites/chrismyers/2018/05/30/entrepreneurs-remember-that-who-you-spend-time-with-is-who-you-become/?sh=56c1004742f1 30 May 2018.
[xvi] “Determinants of Health,” WHO, https://www.who.int/news-room/questions-and-answers/item/determinants-of-health 3 Feb 2017.
[xvii] Unite People, poll: “What is most important to you when choosing a new job?”
[xviii] “40+ HR and Recruiting Stats for 2020,” Glassdoor, 2020.
[xix] Jana Turner, “4 Ways Diversity is Directly Linked to Profitability” Entrepreneur, https://www.entrepreneur.com/article/346229 14 Feb 2020.
[xx] Carolyn Nevitte, “What Generation Z want from their employee experience,” People Management, https://www.peoplemanagement.co.uk/article/1743859/what-generation-z-want-from-employee-experience 21 May 2019.
