Posted on 24th November 2020 at 15:30
Up until March 2020 recruitment was taking place in a candidate-driven market, and this had been the way for at least 2 years. This meant that there were very few great candidates compared to the number of roles out there. Candidates were in the driving seat. A great candidate was in a position to be able to negotiate on salary, dictate when they were available for interview and keep employers waiting whilst they considered the best offer for them.
Then COVID happened and other strange things started to happen to recruitment too. Firstly, potential candidates who were furloughed, or were no longer confident in the longer-term prospects of their company started to look for their next position. Secondly, huge numbers of vacancies were put on hold as employers started to try and guess their marketplaces and the long-term impact of COVID. Companies that were recruiting found that the numbers of applications started to increase rapidly.
Finally, we have settled into a new norm (well for the time being at least!) where those companies that may have stalled for a while have pivoted within their market place and those that are growing need to fill their vacancies. However, the candidate pool is now huge and will continue to grow over 2021.
So, what does this mean to you if you are recruiting?