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Expert Blog Series Part 5 – It’s a Seller’s Market….

By Rachel Varrilly Gierula

If you’re thinking about stepping into the job market, you may find that you’ve got a whole heap of role choice. Through lockdown, the recruitment market, just like the housing market, has seen people ‘staying put and making the most of what they have’. Just like there are less houses for sale, there are less applicants searching for a new job. And that’s great news for candidates. Jobseekers – the ball is firmly in your court!

Unemployment rates have been falling since October 2020[i]. Often there are too few skilled applicants for too many roles. The applicant to hire ratio has dropped, and companies are now having to work harder to attract new team members. A candidate with a strong skill set may find that they’ve applied for 2 – 3 new roles, and have been offered them all. Not great news for hiring managers, who’ve found themselves ‘bidding’ for new hires, or the companies offering ‘golden hellos’. Over-offering on pay and reward, creates false salary inflation too. The market will stabilise, but for now, this could be a great time to look for a new role, and a new employer.

Selecting a new employer is not just about salary. I asked Jilly and Sarah at JS Recruitment what  candidates really want from a company. For some it’s about the benefits package, for some flexible working, and for others a need to work for an organisation that has strong sustainability targets and gives back to the community. Some candidates are ready for a ‘next step’ challenge, and cite progression opportunities and investment in their development as essential. Many jobseekers have embraced remote working, and the thought of spending several hours a week on the M62 or M1 corridor enough to bring on a migraine! For these candidates flexible working is a must.

Too much choice can lead to confusion and indecision, and one thing is nearly never the only factor. Have you thought about what’s important to you from the next company you work for? Here’s a simple coaching wheel exercise to help you make the right choice. I’ve pre-populated the segments below, but feel free to change them to things that matter more to you.

Instructions – draw your own wheel. Consider the importance of each segment and give it a score out of 10, 1 = low, 10 – high. Ask yourself,

  • What stands out? Did you learn anything about what’s important to you?
  • Is there a sector, or a company, that aligns with your needs as an employee?
  • Do you need to adapt your CV to appeal to the employers you’d like to work for?
  • What’s the first step you’re going to take to connect positively with potential employers?

[i] Office National Statistics

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