All that glitters may not be gold

The biggest recent change within recruitment is the change within the job market, switching from being employer-driven to candidate-driven. Such a shift creates an imbalance, where in-demand hires can demand more and get it, constantly moving around and leaving gaps that need to be filled from an increasingly reduced pool of possible employees.

This creates a Gold Rush for candidates, especially ones who are in niche sectors, such as data science, AI, etc. We have a situation now where even junior candidates are changing jobs, roles and companies every 6 months, matched with large upgrades in their salaries as they do it.

This is having a strong impact which, in turn, is leading to short term thinking. Short term planning in and of itself is not necessarily a bad thing, but it must exist in relation to long term planning and should never be driven by desperation.

What we do not want is collective insanity where businesses are just throwing money around with wild abandon as that is really unsustainable. Reaching the limit has to happen sooner or later and when that happens there will be one hell of a hangover. In our previous post, we pointed to a need to restrategise in terms of company image and interview policy.

All of this upheaval puts recruitment under the microscope and that may not be a bad thing. For one thing, recruitment is changing as the world is changing, but many companies have been too busy to understand or recognise.

Firstly, recruiters should at this point be examining how they have been running things. The standardised way of recruitment is, once an assignment is won from a company, to spam candidates found on job boards with emails and once they respond, send multiple resumes to the company and hope and pray. If one particular mission is too time-consuming, the recruiter will naturally focus in on others that are less time-consuming, or if it is too niche, they switch to those that are less difficult to find candidates for. Recruitment where no money is made until the recruiter finds that ‘magic ticket’ is a rather unsustainable business model if we are being perfectly honest. It is somewhat of a miracle that it has lasted this long.

Secondly, organisations should be reassessing their relationships with, and understanding of, recruitment. There is a saying that repeating the same actions and expecting different results is the very definition of insanity, and that old saying just might be true.

The perception of recruiters is that they are only out to make a fast buck. There are bad apples in every industry and recruitment is no different. The reality is closer to those working within it and working hard. Those who are working hard and have left behind the ‘spray and pray’ model are creating  proper consultancies where they can leverage their experience and expertise to help companies they have a real relationship with.

As the candidate market heats up, offers are going to be lost. That is a fact of life. But because of exclusivity between organisation and recruitment partner, they can keep up the momentum, which is important during this gold rush. They can learn from that specific situation to improve refine the search. Development is usually either arrested by clients having multiple agencies working on a role, so short term failure caused them to switch focus in hopes of getting the result, or by the agency running away from the challenge because there is nothing keeping them there other than a verbal agreement. If a dedicated recruitment partner has the mandate is to build a team, the lessons they learned from the challenge leads to better results over and over again.

Those who are ready to face the future with a realistic and calm outlook, will be the ones who have a bright future ahead of them.

Curious about how Zenshin Talent can help your organisation? Contact us today for a no-strings conversation about your needs and our experience.