The Candidate Market – 2021

Studies show that recruitment activity grew in June 2021. Permanent placement growth hit a record, while the upturn in temporary assignments was among the fastest recorded.

The demand for workers gathered further momentum in June, with overall recruitment opportunities rising to the greatest extent in the last 24-year period. Demand for permanent staff hit a record, while temporary vacancies expanded at the fastest rate since December 1997.

High demand for candidates contributed to an unprecedented fall in the availability of applicants in June. Recruiters noted that increased hiring, Brexit, pandemic-related uncertainty, and the furlough scheme all weighed on candidate numbers.

Current market conditions have made candidate availability more challenging than in 2019 for a variety of reasons even though unemployment sits in a very different space than two years ago. We believe the candidate shortage is being influenced by the following factors in2021.

• Stability with current employment is continuing to remain important to candidates during uncertain times
• Corporate salaries have not adjusted to the candidate shortage in the market
• Candidates are requiring remote, work from home opportunities to consider moving jobs
• Companies are hiring and onboarding candidates faster due to virtual technology than we have seen previously (the average shelf life of a software engineer on the job market is 4 days in 2021)

What does this mean for recruiting?

We have put together some advice on how to recruit effectively and to gain the best talent in this current climate:

1. Prepare a thorough job specification.
2. Review the salary and benefits of the role, ensuring it is competitive in the marketplace. If you are unsure, ask your Recruitment Consultant for their professional advice.
3. Once you receive the shortlisted CVs from your Recruitment Consultant, we suggest reviewing these at your earliest convenience and encourage you to arrange an interview imminently.
4. If you like the candidate, we suggest moving quickly with an offer and ensuring you have a well-planned and thorough onboarding process.

To conclude, the current factors above have contributed to a candidate-driven marketplace. This means there is a shortage of available candidates, if you want the best talent you will need to move quickly and ensure you are offering the best package in order to be competitive.