6th September 2021 5 MIN READ •Talos ATS •Hiring Tips
The UK is facing a critical talent shortage, making it difficult for many employers to find compatible candidates for their vacancies. Here, we explore how hiring teams can overcome current job market challenges, and how they can approach attracting talent during a worker shortage.
Talent Shortage Statistics
How much of a problem is the worker shortage at the moment? Talent shortage statistics show:
- 77% (4 in 5) of global businesses have reported recent difficulties in filling roles, the ManpowerGroup Talent Shortage survey shows
- 13% of UK businesses are experiencing a talent shortage, according to Office for National Statistics data from November 2022
- Reliability, self-discipline, IT and data skills are among the most sought-after skills among employers, according to the ManpowerGroup survey
- Globally, the communication services, energy and utilities, and healthcare and life sciences sectors are experiencing the greatest talent shortage, the ManpowerGroup findings show
Meanwhile, our own 2023 Talos 360 research into the challenges of the ongoing talent shortage shows:
- 55% of HR professionals believe the cost of living crisis will make it harder to recruit
- 48% of hiring managers believe the cost of living will continue to impact their HR strategy
- 64% of HR managers believe their top-performing employees will be more at risk of leaving for competitors
- 48% of hiring managers expect lower morale and employee engagement
- 91% of HR professionals are worried that the cost of living crisis would make their role harder
- 70% of hiring managers have said it’s now harder to attract suitable candidates
Why is there a talent shortage in the UK?
The main symptom of the UK’s ‘talent shortage’ is a significant lack of skilled candidates for various job roles. Employers are receiving fewer applications for job vacancies, and from an even smaller number of compatible candidates.
This creates an atmosphere of high competition between employers, with companies offering increasingly competitive employment packages to attract more applicants.
The country’s current lack of available skilled workers has been fuelled by a number of issues. While experts argue over which factors have had the most impact, companies have become familiar with the key hiring challenges of the past 18 months.
1. Job market competition
In recent months, the job market has seen a surge of new vacancies. This has given jobseekers a wider range of employment options, making it more difficult for employers to ‘win over’ the best talent.
As more and more companies seek to expand their teams, they find themselves competing with similar employers for a shrinking number of available candidates. This has created a highly competitive environment within the job market, forcing employers to spend more time and resources on attracting talent. During a worker shortage, this can be challenging.
2. Lack of learning & development opportunities
A lack of learning and development opportunities within the workplace has left many employees in ‘stagnant’ job roles. This not only reduces progression for workers, but makes it more difficult for employers to fill more executive positions.
Over the past 18 months, it has been almost impossible for companies to facilitate face-to-face training and development for their employees. This has contributed to the talent shortage, making it more challenging to source new talent internally through employee promotions.
3. Challenges for international recruitment
A number of recent challenges have made it more difficult for employers to source new talent from overseas. From international visa restrictions, to changes in UK/EU regulation, companies have become more reliant on sourcing new workers from within the UK.
The government has responded by adding ‘essential’ status to some job roles, such as HGV drivers, making it possible for employers to source international candidates. However, many roles still fall short of the minimum required salary for UK employment visas, limiting the pool of talent from which employers can source candidates, exacerbating the talent shortage.
While the job market is certainly becoming increasingly competitive for employers, there are ways to secure your reach over more of the best talent. Here are our top tips for attracting talent during a worker shortage to fill your vacant positions with quality candidates:
1. Build a competitive employer brand & EVP
Your employer brand is what first attracts candidates to your roles, and encourages existing employees to stay with you. With the competitive nature of the job market, it’s more important than ever to give your workplace and its values a competitive edge. This means identifying which benefits, incentives, and cultural factors matter most to talent in your sector by outlining your Employee Value Propositions (EVP), and optimising your company’s approach.
Survey your employees to find out why they choose you as their employer. This will highlight the best qualities of your employer brand, to show you the aspects you need to promote across future hiring campaigns.
2. Research your competitors
In this overly competitive recruitment market, you must consider researching your competitors. Even at a basic level, understanding what your competition is up to in terms of talent attraction will be invaluable when it comes to attracting talent during a worker shortage. Think about the following:
- What salary and benefits do your competitors offer?
- Where do your competitors advertise?
- How do your competitors utilise their employer brand?
- Do you know your differentiator?
3. Look to the next generation
The future is now: graduates and school leavers will be searching for new opportunities come mid-2023, so be sure you put your business in pole position to attract them.
To do this, consider the following:
- Building relationships with universities and colleges
- Attending career fairs
- Using undergraduate job boards
- Keep your applications simple
- Seek out influential online publications to promote your brand
4. Optimise your recruitment advertising
Is your recruitment advertising strategy up to scratch? If not, you’re probably losing out on valuable candidates to your competitors, which you particularly need to avoid during a talent shortage.
Ensure you’re using all the essential platforms to promote your vacancies. Use a multi-poster to make sure your ads are properly targeted, and utilise all available recruitment channels.
Make sure your advertising strategy and application processes are mobile-friendly, and reflect the most important qualities of your employer brand. This will make it easier for candidates to spot the key benefits of working for your company, and submit their application. These steps of the recruitment process shouldn’t be underestimated, particularly when it comes to attracting talent during a worker shortage.
5. Deliver a positive candidate journey
The quality of your candidate journey is often overlooked when attempting to achieve successful recruitment. This is how candidates perceive your employer brand and its hiring process throughout various stages of their recruitment journey – from application to onboarding. Did you know that 63% of candidates report being dissatisfied with the level of communication from employers after applying for a role?
Make sure candidates remain in the loop with the process of their application; provide a fast turnaround for interviews, feedback, and progression. This helps to keep talent engaged with your brand and the relevant vacancy, ensuring you don’t lose out to other employers – something that’s especially important during a talent shortage.
Contact scheduling software can be an effective way to achieve a more positive candidate journey. Tools within your ATS enable you to schedule personalised updates to be sent to candidates at key hiring stages, including on receipt of application, when booking an interview, and during onboarding comms.
Attracting talent during a worker shortage with Talos ATS
Talos ATS is the easiest way to attract and hire talent, regardless of whether there’s a talent shortage. Want to attract more high-quality candidates to your vacancies? Talos ATS has you covered!
The multi-purpose hiring platform provides all the tools you need to attract, manage, hire, and onboard the best new employees. Talos ensures you never miss a trick when it comes to talent acquisition, helping your business to overcome the UK’s current talent shortage.
Talos ATS includes:
- Multi-platform advertising suite
- Next-generation applicant tracking system
- Advertising optimisation tools
- Automated progression of your strongest applicants
- Automated communication and updates for candidates
- Video screening and interviewing for fast, accessible hiring
- Gamified culture-match – increasing candidate compatibility
- Simplified remote hiring and onboarding tools
Help your company to overcome the talent shortage; attract and hire the best new employees with Talos ATS:
