Category: Recruitment

“Trinnovo Group is purpose-led with a mission to build diversity, create inclusion, and encourage workplace innovation.” – Richard MacMillan, Chairperson, Trinnovo Group

In April, Trinnovo Group made two announcements: the appointment of Richard MacMillan to the Board of Directors as Chairperson as well as the launch of its fourth brand Equiris Consulting.

NEW CHAIRPERSON
Richard has a 25-year history in the staffing industry was CEO of health and life science staffing and services company called Independent Clinical Services (ICS) for 14 years. He led the growth and diversification of ICS through three periods of Private Equity ownership until it sold in September 2020. During his tenure, ICS completed multiple acquisitions, expanded its international presence, and developed several innovative healthcare services.

Richard commented: “Trinnovo Group is an exciting and dynamic business led by exceptionally talented people and I am delighted to join as Chairperson. Trinnovo Group is purpose-led with a mission to build diversity, create inclusion, and encourage workplace innovation. They have a unique and exciting approach to the full talent cycle. The business is flourishing, and I look forward to working with the team as they continue to diversify the business and grow internationally.”

James Cox, Trinnovo Group CEO also commented: “I am delighted to have Richard join us as Chairperson. Richard’s track record in international growth driven by an entrepreneurial and technology focused approach is second to none. The Board and I are hugely excited to work with Richard and to continue disrupting the recruitment sector via our people and delivering our vision, to be the fastest organically growing and most impactful recruitment business on the planet. Ashley Lawrence continues to support the group working with the Trinnovo Board in his new role as Founder.”

NEW BRAND
The announcement of the new brand, Equiris Consulting will enable high-growth businesses to attract, retain and develop amazing people and high-performing teams that are representative of society by ensuring that the world of work is a more inclusive and equitable place for everyone.

Equiris is a talent consultancy and solutions provider with a diversity, equity, and inclusion methodology that is focused on the full talent lifecycle including attraction, assessment, onboarding, learning and development and retention.

TIARA Recruitment Award winners 2021, Trinnovo understands that every business is unique, and focus on building strong relationships that enable them to truly understand their clients’ business strategies. This focus enables them to embed bespoke talent solutions into clients’ businesses that help them achieve sustainable growth while ensuring that diversity, equity, and inclusion are at the forefront of their strategic agenda. It works closely with its sister brands, specialist recruitment companies Trust in Soda, Broadgate and BioTalent, to offer a full wrap-around DEI focused talent solution.

Cara Myers, Talent Advisory Director at Equiris Consulting commented: “I am so incredibly excited to be launching Equiris Consulting. Across our social enterprise and unique platforms, we have inspired a lot of change within the workplace and worked hard to make it a place that is more inclusive for everyone. We recognised, however, that we have an opportunity to do more, and to not only inspire change but to also work with our clients and partners to offer very targeted DEI focused talent solutions that enable high-growth companies to scale in a way that is diverse, equitable and inclusive.”

James Cox, Trinnovo Group CEO also commented: “The Board and I are hugely excited to launch Equiris Consulting. We created Equiris Consulting because we want to provide solutions that enable high-growth, tech-enabled businesses to grow in diverse and sustainable way. We are on a mission to build diversity, create inclusion, and encourage workplace innovation, and we are excited to see the impact that will be delivered through our new talent consultancy and solutions provider.”

 

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24 Recruitment firms join global recruitment network

Global recruitment network NPAworldwide has announced that 24 new recruitment firms have been enrolled in their network. The new member firms are from the USA, Mexico, Australia, Indonesia, India and the United Kingdom.

NPAworldwide’s network currently includes over 550 recruitment companies across almost 50 countries. Membership is offered to selected recruitment firms which meet the networks enrolment criteria.

The new members are:

Dave Nerz, president of NPAworldwide, said: “Congratulations to each of these recruitment firms. By joining our network, these firms are invested as owners.”

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Side has 300,000 active candidates

Randstad NV has announced that Randstad France will acquire Side, a leading end-to-end digital staffing platform in the region. It’s said that the acquisition strengthens Randstad’s offering and market position through increased digital presence and capabilities.

Side was founded in 2016b and are specialists in online recruitment that offers digital staffing solutions to over 2,000 customers. With 300,000 active candidates on their books, they operate primarily in the logistics, trade and service sectors.

The acquisition of Side would lead Randstad towards a strong extension of Randstad’s current portfolio as well as enable them access to new opportunities for existing and potential clients.

Sander van’t Noordende, CEO at Randstad made comment: “The role of technology is becoming increasingly important in the world of HR services. In a tightening labour market, this acquisition would allow us to offer customers and talent a new solution to those looking for a fully digital experience. However, it is our shared values and the belief in the crucial role of the ‘human touch’ underpinned by technology which makes me excited to welcome their great people to our team.”

Pierre Mugnier, Co-founder and CEO, Side also commented: “This acquisition fuels our ambition to offer the best online staffing experience to candidates and businesses. It’s a great recognition of the strength of our team and our unique approach mixing cutting-edge technologies with high quality human touches. We’re looking forward to joining forces with the Randstad Group’s talented teams and combining our online user experience expertise with the world’s largest HR services provider.”

The transaction has been presented to the applicable employee representative bodies and is expected to close in the coming weeks.

 

 

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Rapid growth in demand and shortage of talent creates tricky situation

Industry specialists continue to warn of challenges in finding the right candidates in the current buoyant software recruitment market.

The rapid upturn in demand and a talent shortage is creating a difficult situation for businesses that wish to expand. Specialists warn that companies need to invest sufficient time, money, and expertise in the employment process if they wish to succeed.

Experts say that one of the reasons for the current challenging situation is an increasing number of recruiters in the technology industry, resulting in candidates receiving significantly more cold approaches than before.

Additionally, remote recruiting has sped up recruitment procedures, even though companies have added layers and touchpoints to ensure that they’re hiring the right talent.

Tristan Heywood, Divisional Director at Oakstone International, commented: “I’m 21 years at Oakstone and I can’t remember a time when we have been busier. Literally every tech company is hiring at scale, which is not only driving salaries up, but also challenging candidates to make the right decision – and that situation is unlikely to change in the near future.”

“There are simply not enough qualified/experienced resources to deliver against the demand across every function – whether that’s technical, marketing, consulting or sales – the average candidate is overwhelmed with offers and for many, the primary metric for measuring an opportunity is on the salary rather than a holistic focus on earnings, culture and genuine career prospects.”

“Software is now driving everything – new banks are essentially technology platforms – and traditional industries are being fully automated by tech and therefore the demand for staff is constant and is only getting bigger and greater and more difficult.

“Companies will also have to think about how to sell their brand to attract the right people. Packaging your opportunity based on earning scope, leadership, personal development and culture will be critical. Otherwise you are in a straight salary shoot-out and if you don’t sell a vision then the risk is that highest payer will win”

Dan Hammond-Smith, Divisional Director at Oakstone International, added: “As we continue to move towards a hybrid working model, most clients who we partner with have adapted and adjusted.

“Those that haven’t – and those that aren’t willing to – will lose candidates because employees are more than ever calling the shots about when they want to be in the office. People’s priorities have changed.”

“There is probably a 20 per cent increase in terms of base salaries within senior technology roles from even where we were last year – coupled expectations of bonus, decent pensions, investment in people’s betterment, learning and well-being – and you have a pretty competitive landscape.

“At the start of 2021, the standard interview process within technology was 27.5 days – now, for most of my clients, it’s 14 days. That’s because they have now got to be even more competitive in the market to succeed.”

All indications are that UK businesses need to continue adjusting and extending sufficient resources in the recruitment process to thrive in the current challenging business climate.

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Despite global political concerns, financial services are in a significant growth period

Morgan McKinley’s latest recruitment monitor for Q1 2022 shows that recruitment numbers in the financial services industry are rising following pandemic lows and global political and economic concerns. 

According to the report, there were 11 008 jobs available in the first quarter of 2022, over 73% more than the same period in 2021. There was also an increase of 35% quarter-on-quarter from Q4 2021 to Q1 2022.

The continued increase in available jobs clearly shows that business intends to grow, even with global instability.

Another key finding was that 51% more people actively sought new job opportunities in Q1 2022. There was also an average salary change of 22% when changing jobs. This number is significant, indicating a shortage of candidates in the city’s financial services market.

The data shows that businesses are bidding with higher salaries to attract the best talent, as the numbers of job seekers have not proportionally increased in line with the volume of new jobs available. Companies are also taking steps to retain existing staff, often by offering larger bonus payouts.

Hakan Enver, Managing Director at Morgan McKinley, commented:  “Once again, the city’s recruitment has shown stubborn resilience in the face of adversity. The first three months of this year saw companies hiring in their droves and professionals with renewed confidence to move. It’s safe to say that firms have been desperate to hire.”

“This growth is even more momentous when considering the various global issues that have come to the fore. The start of 2022 has been a tale of two opposites for London. On one hand, the Omicron variant, the ongoing invasion of Ukraine and its subsequent energy crisis, 30 year high inflation and rising interest rates have been the talk of the tabloids.”

Despite all the year-on-year increases, the month-on-month growth for 2022 is significantly slower – with a 2% increase comparing March to February and 12% when comparing February against January. The escalating global issues may still impact the London bubble and recruitment numbers for the remainder of the year.

Enver went on to add, “Despite not many knock-on effects being seen in London’s Financial Services hiring thus far, the ongoing invasion of Ukraine and the global economical fallout could yet play a huge role in our market. Further escalations and sanctions would see more companies removing themselves from interactions with Russia, and who knows what might happen here as a result. It will be interesting to see what the figures of jobs and job seekers over the next three months pan out to be.”

 

 

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2022 to be another record-breaking year
According to research from the Association of Professional Staffing Companies (APSCo), vacancies across Wales continue to rise. Vacancy levels in 2022 are set to be 196% higher than the three-year average for 2018 – 2020.

Business intelligence specialist Vacancysoft provided the data, which shows that new jobs were up 88.2% in January this year, compared to the same month last year, marking a new milestone for recruitment levels across the country.

A further finding was that real estate saw the greatest increase in recruitment across all sectors. Jobs in this sector increased by 184% year-on-year, likely due to the unprecedented interest in the Welsh housing market.

The research also showed that IT experts were in highest demand throughout Wales. Throughout the pandemic, recruiting for IT specialists was steady and accounted for 16.3% of all new vacancies across the country in 2021. Jobs in the engineering sector saw the greatest increase, with recruitment up 275.9% year-on-year.

These reported figures are in keeping with trends across the UK which continue to show record-breaking vacancy numbers online. With evident skills shortages across the country, the turbulent, candidate-driven market shows no signs of abating.

Ann Swain, CEO of APSCo, commented: “Despite Omicron threatening the UK’s economic recovery, Wales began 2022 with record-breaking recruitment levels, however, while the professional sectors are currently holding up well, skills shortages are evident across almost every specialism. The data suggests that recruitment demand will only continue to grow across Wales for the rest of this year and with experts such as IT professionals in high demand, but short supply, businesses will find sourcing the best talent becomes increasingly difficult.”

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Jody Robie, SVP North America at Talent Works talks about ‘the what’ and ‘the how’ of hiring talent, fast

The current recruitment market is like never before. It’s a war for top talent and employers need to sell themselves in a way that both attracts and retains the best of the best. Authenticity is also key here, to ensure that candidates make the right choice about the culture and expectations of the company. On top of this, everything is moving at a mile a minute, and recruiters want – and need – instant results. There is no room for a passive  approach to recruiting right now.

The what 

To compete today, companies need to modify their recruitment approach to create the most compelling Employer Brand. Then comes the challenge of communicating that employer brand to the right candidates via your Employer Value Proposition. 

Recruitment teams have to work harder than ever if they’re going to stand out to top candidates and tempt them to join their organization. But with everything moving so quickly, projects that typically take six months need to be ready for market in less than 2 months. Talent leaders need to ensure they can carry out these projects both quickly and effectively, while not compromising on the quality of talent.

The how

  1. Hire at speed

While taking the time to ensure a candidate is the right fit for your business is ideal, it’s becoming evident that a slow and steady approach is now a luxury few employers can afford. Long-drawn-out candidate experiences will only increase the number of applicants who drop out of your recruitment process. Even if your employer branding is ticking all the boxes, candidates want to move quickly. If you have a good feeling about a candidate, you need to snap them up before a competitor does. 

With speed and agility now crucial, how can we ensure this doesn’t come at the mercy of quality? Recruitment projects that would usually take months, are being squeezed into a matter of weeks. To ensure that you’re not compromising on the right talent, and that the talent you have hired will remain, you need to have  an authentic and relevant 2022 employer brand ready to go. 

  1. Create the most attractive employer branding

As such, having a strong employer brand is no longer a ‘nice to have’, but a must. In fact, 72% of recruitment leaders agree that employer brand has a significant impact on hiring. Businesses need to adapt their recruitment approach to focus on raising brand awareness and excitement around your current openings.. 

This means recruitment and the role of recruiters is becoming  more complicated, and understanding how to sell and market your role and your organization is critical. We’re used to candidates having to sell themselves in an interview, but now recruiters are selling a business to a candidate before this can even happen. Just as marketing professionals promote products and services, recruiters are focusing on their organization’s unique selling points and strengths to convince candidates to take the role over another.

When positions are equal in terms of salary, development opportunities and the role itself, employer branding will differentiate one employer from the next. In turn, recruiters need to express enthusiasm for your employer brand right away, expressing the values, overall mission and culture they can expect. Simply saying it’s a “social office” and it has a “great culture” is not good enough in a market this crowded. Instead, look at your recruitment marketing materials and Employee Value Proposition (EVP) to discover what truly makes your workplace unique.

  1. Promote your EVP

This brings me to the final point. A strong employer brand must be supported by a clear EVP. Your EVP gives potential employees a clear cultural direction and something to buy into. Teamwork, principle fulfillment, recognition, rewards and being nice to people – these are all ‘nice-to-haves’, but they aren’t the makings of a successful EVP. 

Instead, here are a few questions companies should be asking when it comes to their EVP: Does your EVP resonate with your employees in their early careers? Is it meaningful and relevant for your employees whether they  have been there for 6 months, or 16 years? Does it say something unique and special about why people want to work for you? Will your executive team stand behind and embrace the messaging?

A great EVP needs to be transparent about your culture, remote policies, covid requirements, etc. In the hiring process, candidates will get a clear sense of the company’s values and self-select out of the application process in the early stages, saving time for HR and recruitment later down the line. While attracting top talent is the goal, laying out unique differentiators  and more intangible elements of the workplace from the start, is now more crucial than ever. 

Standing out in a candidate-driven market 

The power has shifted and candidates are now calling the shots. As such, finding the best possible approach to hiring at pace, but in a way that doesn’t compromise on quality, will be key in creating an effective and lasting Employer Brand. It might take a bit of time, but in the long term, it will be worth it.

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ONS stats show increase in economic inactivity

The latest figures from the ONS have been released and what stands out is that even though average pay rises for the first quarter are at an average of 4% (excluding bonuses), this appears well below inflation. However, in real terms (adjusted for inflation), growth in total pay was 0.4% and regular pay fell on the year at negative 1.0%. Strong bonus payments over the past six months have kept recent real total pay growth positive but employers may find it even harder to retain talent through salary increases alone as the cost-of-living crisis continues in the UK.

The latest Labour Force Survey (LFS) showed that for December 2021 to February 2022 the employment rate remains unchanged on the quarter, while the unemployment rate decreased. Over the same period, the economic inactivity rate has increased slightly which signals a slight dip in the economic rebound following the end of the pandemic with inactivity increasing by 0.2 percentage points to 21.4% from December to February 2022.

There was a noteworthy increase, albeit small, in the number of payrolled employees for March 2022 which is up 35,000 on the revised February 2022 to a record 29.6 million.

The report showed that once again, the number of job vacancies in January to March 2022 rose to a new record of 1,288,000, with the rate of growth in vacancies continuing to slow down.

Jon Keeble, employment partner at DWF commented on the latest report: “The latest ONS labour market figures demonstrate continued resilience in the labour market. The highlights for the period between December 2021 and February 2022 show a largely unchanged employment rate of 75.5%.

“With legal requirements largely removed across the UK and a shift over to personal responsibility we are very much in the phase of having to live with COVID-19. Although employers are now faced with a number of practical challenges as we enter this next chapter, the relaxation of restrictions should have a positive effect on the labour market.

“We are yet to see what impact the cost-of-living crisis will have on the labour market and whether the Chancellor’s Spring Statement and the rise in the National Minimum Wage will provide sufficient support.  Undoubtedly, employees who are struggling to cope financially will be seeking out those employers, which are able to provide the most attractive rewards package.”

James Reed, Chairman of Reed.co.uk, also commented: “The economy is facing a crunch point as businesses contend with serious challenges, from rapidly rising inflation to severe labour shortages. The jobs boom that began last year continues to be reflected in the ONS’s labour market statistics. With job postings on Reed.co.uk in March increasing 18% year-on-year and 14% month-on-month, this trend shows little sign of slowing. But with economic growth now as low as 0.1% and unemployment at historic lows, the jobs boom is in danger of becoming a jobs overload.”

“The difficulties businesses now face in hiring staff, are having a knock-on effect on supply chains, production output and the quality of goods and services. This is slowing the UK’s economic recovery from the pandemic.

“There are now 8.8 million people who are economically inactive in the UK, which is 600,000 more than at the start of the pandemic. This is a symptom of what I call ‘The Great Lie Down’, with many workers leaving the workforce altogether, some through long term sickness and others preferring early retirement or different lifestyle choices. If these workers are to be coaxed back, they will need convincing with attractive employment arrangements, higher wages and better conditions and benefits.

“Currently, less than 20% of these people who are economically inactive say they would like a regular, paid job. However, if it was possible to help this group find work then that would be of great benefit to both them and the economy.”

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71% percent of contractors are looking for outside IR35 roles

Research amongst contractors, recruiters and end clients by Kingsbridge Contractor Insurance has revealed that IR35 reform has drastically affected businesses hiring contract labour, and recruiters are having difficulties placing contractors within IR35 roles.

According to the research, 71% of contractors insist on outside IR35 roles. However, these account for less than 41% of the roles available. Sixty-six percent of contractors say that with the increase in the risk of greater tax liability, they would not consider inside IR35 roles.

The research also found that over 70% of businesses and recruiters saw a drop in the numbers of PSC contractors since the introduction of IR35 with the Check Employment Status for Tax (CEST) tool affecting the availability of essential contract labour. Thirty-eight percent of the respondents whose end clients use the CEST saw a reduction of 61% or more, whereas those who use independent employment status tools saw a reduction of only 23%.

Further findings were that 70% of end clients adopted a collaborative approach with their recruiter to establish the IR35 statuses of contractors, indicating the importance of recruiters in determining the status. However, when recruiters have end clients who use CEST, they have had the least involvement. One of CEST’s failings is that it doesn’t promote collaboration with recruiters and increases the risk of inaccurate determination.

While many recruiters felt that their end clients weren’t prepared for IR35 reform, many are hopeful for fewer blanket bans on contract hire in the future. Tellingly, the users of independent employment status tools find that more of their end clients are making an about-turn on their blanket bans than the CEST users.

Andy Vessey, Head of Tax at Kingsbridge Contractor Insurance, commented: “HMRC was severely under prepared for the private sector reform, and CEST simply isn’t fit for purpose. However, there are some signs of positive change. There are more U-turns on blanket bans and contractors are optimistic about their future job prospects. To accelerate this change and avoid losing access to the skilled talent businesses need, three things need to happen:

  1. More education is needed to address the issues still being experienced. A better understanding of IR35 would be much healthier for the market as a whole
  2. CEST must be made fit for purpose and take Mutuality of Obligation (MOO) into consideration
  3. Companies can legitimately hire experienced contractors outside of IR35 but, to do this, the use of purpose-built tools, advice and insurance should be sought. This will provide the right process to mitigate against the perceived risks of hiring contractors.”

With no end in sight where labour shortages are concerned, the use of the CEST when placing IR35 candidates is only hindering the hiring the process.

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Headcount to grow to 100 in the coming months

Levin Group has announced the launch of Storm3, its HealthTech tech recruitment brand in Singapore. Following the launch of their Amsterdam and Dallas office, Singapore will be the third global office for Storm3 focused on Asia Pacific’s HealthTech market, which includes subsectors like Genomics, Telemedicine, FemTech, surgical robotics, and Smart devices and apps that focus on physical and mental health.

With the health technology sector in APAC growing at a rapid rate and the region coming in second to the US in funding in 2021, APAC secured a total of US$ 8.68B in funding. This is a massive increase from 2016, when the market only raised a total of US$ 4.1B. Storm3 aims to seize the opportunity by supporting the growth of emerging health tech start-ups by providing the niche talent to the sector. Insiders tip Storm3 to become a global powerhouse in health tech recruitment.

Mildred Lim, ex-Phaidon International, will assume the position as Vice President of Storm3 and head up the expansion in Singapore where it will be onboarding 30 micro-niche specialist consultants in April.

Mildred Lim, VP of Storm3 Singapore commented: “We noticed a gap in the HealthTech talent marketplace and as one of the rare specialist recruitment firms in Asia that boast the richest global specialist talent database, we aim to be the touchpoints for both emerging health technology companies and candidates in the markets.”

APAC VP of Levin Group, Candy Choong also commented: “By the end of 2022, we will be bringing our headcount to more than 100 to cater to the demand of emerging markets.” The tech talent recruitment company is also in the midst of launching its next office in Sydney and plans to bring the GreenTech recruitment brand, Storm4 into the APAC market within the year.

CEO of Levin Group, James Brown made comment on the launch of Storm3: “We have seen a strong demand for top tech talent within the Asia Pacific market and our new office marks, not only a milestone for Storm3 in Asia Pacific, but also a recognition of the impact and change that Storm2 has made within the market. We are thrilled to have Mildred and Candy working together, we envision the brand will become the next disruptor of tech recruitment.”

 

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