Gough Recruitment’s focus is to stay on top of the constantly evolving job market. Here they list the top five recruitment trends that dominate the Real Estate, Property, Development and Construction Industries. Staying on top of these trends and being able to react to them effectively can help retain top talent, and keep employee turnover at bay.
1. Talent shortage
The talent shortage has been one of the most talked about market phenomena of the past ten years. Research shows 35% of 38,000 employers reported having difficulty filling jobs due to lack of available talent. So what can be done to attract candidates? The study suggests that employers who are using new technologies need to base hiring on more than just education and experience, such as the non-cognitive skills that allow some people to excel at learning on the job.
Other important factors include promoting attractive offers that match a candidate’s passions, as well as a well-designed hiring process, effective interviewing and honest communication. A positive candidate experience can also make you stand out to candidates, and can really make the difference when it comes to filling that vacant position.
2. Onboarding programs
Many companies are starting to make greater use of their onboarding programs to reinforce company culture and integrate employees effectively into the team, so they can add value quickly. Before a new employee starts, a strong onboarding program should be in place, and an employee should be equipped with all of the resources and necessary equipment they might need. This means they can complete day-to-day tasks without any confusion or strife.
Communication with your employee at each stage of the onboarding process will help them understand how they fit into the bigger picture. Welcoming a new employee is a chance for you to make a good impression and for your team to get creative. A great first day, week and 90 days, can contribute to a positive employee experience.
3. Generational incentives
As Gen Y takes its hold within the workforce, employers are having to get to grips with the most multi-generational workforce ever. With Baby Boomers, Gen Xers and Millennials all heavily represented in the workplace at once, incentives now need to meet the expectations and preferences of each generation. Overall, generational incentives should begin with determining what each generation is looking for in a job, which can also help to build the recruitment and hiring process.
4. Job satisfaction
What is the number one reason for an employee to stay at their job? Surprisingly enough, generous salary packages are no longer the prime reason. Research shows that employees value being happy in their work life. They stay because they enjoy the work they do and if the job fits in well with other areas of their life.
Results show that many employees now value fulfilment more than financial reward.
Of course, money and remuneration do count, but overall job satisfaction and the feeling of being connected to an organisation dominates the list.
5. Employees – leaving managers not companies
How a company is managed has a strong influence on an employee’s decision to stay or leave. So, what are the main breaking points that cause employee turnover? Employees give interesting responses as to why they leave, with conflicts with managers, inadequate promotions and lack of career development the primary motivators.
Key research, including Gallup’s Q12 employee engagement survey, confirms that professionals tend to leave their job in search of better managerial support. That support includes the following elements: recognition of value, establishment of clear expectations, a sense of autonomy, a clear path for growth and the guarantee of a better work-life balance.
Depending on your company, you might not be able to provide regular bonuses or benefits. However, there are other ways to show appreciation; such as by improving management and providing opportunities for career development.
Not meeting the specific needs of top talent can have a strong negative impact on your company. It’s important for businesses to tackle these recruitment trends head on and ensure your management and hiring programs are well-designed. Be the best manager to your employees and soon enough you’ll see positive results.
