Category: Recruitment

Businesses must hire carefully to find suitable candidates in today’s fast-paced market.

According to global software and fintech executive recruitment consultancy Oakstone International, businesses face a perfect storm due to massive growth and a shortage of suitable candidates.  

With most industries becoming automated by tech, the demand for staff is constantly growing. As a result, many new recruitment companies have appeared in recent years. In addition, remote recruiting, primarily due to the pandemic, has sped up recruitment procedures.  

The recruitment market is increasingly competitive, and potential candidates are getting many more job offers than they were just three years ago. Decisions are typically being based on immediate financial motivation instead of career prospects.  

Companies are encouraged to invest enough time, money and expertise to attract the right people. If different employers offer potential employees roughly the same money, the candidates will make decisions based on leadership quality, market position and working conditions. 

Tristan Heywood, divisional director at Oakstone, comments: “I’ve been in this business for more than 21 years and I can’t remember a time when I was busier. What is very clear is that everyone is hiring, which is not only driving salaries up, but leading to candidates to make poor choices – and that situation is unlikely to change in the near future. 

“The single biggest challenge is that with not enough people for the volume of roles across every function – technically geared, engineering-related and sales – candidates get many more offers and typically will make decisions based on instant financial motivations rather than career prospects. 

“Some recruiters just throw CVs at businesses in their haste to conclude a deal, but we consider that akin to ‘people trading’ and we don’t cut corners. We invest time in finding the right person for each role – putting the wrong candidate up for interview not only damages our reputation but slows or stops the process.” 

Oakstone International divisional director Dan Hammond-Smith, 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 competitive in the market to succeed.” 

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RefuAid offers English language tuition to clients

A consortium made up of a number of UK-based employers, brought together by entrepreneur Emma Sinclair, MBE has pledged resettlement support to those who have fled the conflict in Ukraine. The scheme will offer language support as well as jobs to refugees arriving in the UK.

Most skilled professions require intensive English language tuition and UK re-accreditation to practice, which usually involves undertaking exams and/or further training. This process is prohibitively expensive for those who have sought sanctuary in the UK and is time consuming. The purpose of the scheme’s providing language support will largely speed up this process.

Companies such as FDM plc, PageGroup plc, PWC and Portman Dental Group are each sponsoring 50 RefuAid clients to learn English language and receive resettlement support. Sponsors will not have the right to employ the clients at the end of their courses.

Over 120 large companies (and many smaller ones) have engaged and have expressed interest in joining the consortium. Some of these businesses are: Caffe Nero, Capital One, Domino’s Pizza, Dunelm, Mitie, Mondalez, Nando’s, Northumbrian Water, Sodexho, Speedy Services, Wincanton, WPP and many more. Many are announcing other initiatives in support such as The AA and WH Smiths.

Emma Sinclair, MBE commented: “My father’s side of the family came from Ukraine, fleeing pogroms and persecution. It is not surprising – but very uplifting – to see how quickly business has stepped up to fill an urgent gap in light of the Ukrainian crisis. There is an overwhelming desire to help refugees resettle and have meaningful lives, finding employment commensurate with experience.

“The slow, bureaucratic process to set up a life in the UK needs to be sped up. This launch initiative is the first step towards significantly accelerating the pace that the United Kingdom can do that – and do that better. A second large wave of supporters has already been assembled and we will shortly be ready to expand the programme. I hope through this consortium that we are seeing the beginning of much needed blue print for how to help refugees arriving on our shores to lead dignified independent lives, for all our benefit.”

Kevin Ellis, Chairman and Senior Partner at PwC, made comment: “A profession is part of someone’s identity – we want to use our strengths as a training business to support refugees into the right work for them. This is a no-brainer for businesses looking for talented people, and we’re delighted to work with other businesses to get moving on this important pilot which aligns with our existing activities to support refugees.”

Steve Ingham, CEO at PageGroup commented: “With over 40 years’ experience of changing lives, we will continue to use our expertise to create opportunities. Being part of the Business.Consortium allows us to provide talent to UK businesses that are crying out for skilled employees as well as break down entry barriers to employment for the Ukrainian refugees.”

Rod Flavell, CEO, FDM Group also commented: “We are very excited to be joining forces with the other businesses to offer job opportunities to Ukrainian refugees. Last year FDM recruited over 2,500 new joiners into our permanent workforce. We are looking to hire in excess of that number in 2022 so we are open minded as to numbers.”  

Anna Jones, CEO, RefuAid: “Forced migration is one of the leading issues of our generation. Whilst governments must be called upon to provide safe and legal routes to sanctuary more support is needed to enable people to rebuild their lives in the new communities they find themselves. This consortium displays the amazing capacity businesses and the third sector have to create change by working together to support people and RefuAid are thrilled to be a part of it.

If you’d like to join the Business.Consortium please contact Emma Sinclair, MBE.

 

 

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Job applications drop 37% as vacancies increase 52% 

The number of applications per vacancy have steadily decreased as the skills crisis continues to grip the UK, with figures dropping 40% between January and February 2022. That’s according to the latest data from the world’s largest network of job boards, Broadbean Technology. 

 

Applications tumble 

According to the statistics, the number of professionals applying for new jobs fell 37% between February 2021 and February 2022 as vacancies spiked 52%. While this data highlights a concerning picture for the UK’s skills availability, pre-pandemic comparisons provide a clearer indication of the talent crisis facing the recruitment sector. 

Broadbean’s analysis revealed a 55% decline in the number of people applying for new jobs between February 2019 and February 2022, indicating the extent of the impact of Covid and Brexit on the UK’s labour market. 

 

Sector breakdowns 

Across the sectors, the data reveals a significant decline in the number of people applying for roles across the engineering, IT, retail and healthcare sectors. In the retail arena, applications per vacancy fell 45% between January and February of this year, while figures in engineering and IT were down 41% and 38% respectively. Medical and nursing job applications also reported a 30% decline which is indicative of the continued pressure being felt across the healthcare sector as it attempts to play catch up on routine services following two years of significant demand. 

Alex Fourlis, Managing Director at Broadbean Technology commented: 

“The UK’s skills crisis has been well documented over the last year, impacting almost every business, of every size, across every sector. The uptick in recruitment activity at the beginning of 2021 was initially welcomed with open arms in a Covid-hit economy, but we all soon felt the squeeze on resources as we found ourselves in a unique scenario where everyone was recruiting at the same time. And while Brexit may feel like a lifetime ago, the impact this has had on the labour market wasn’t immediately felt, largely due to the pandemic. There is no quick solution to rebuilding dwindling talent pools and we fully expect this squeeze on resources to continue over the coming months. We do, however, expect to see more employers and recruiters using innovative technology and maximising partnerships with external talent suppliers to tackle this skills crisis.” 

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Amazon hires more alumni from Russell Group universities than any other major tech company

According to analysis from TonerGiant, there are universities in the UK that are more likely to set up graduate careers at the world’s biggest, most valuable tech companies.

Using LinkedIn, TonerGiant discovered where more than 500,000 employees of the world’s most valuable tech companies studied at university to find out which universities are more likely to get you hired by a tech giant. Its analysis looked at 26 of the biggest tech companies including Google, Facebook, Amazon, and Microsoft.

By teaming up with tech recruitment expert, Misha Yurchenko at Carrus.io, they were able to find out more about the hiring process at tech companies to quantify the research.

The university where graduates are most likely to get hired to work in tech companies is the University of Cambridge with an impressive 4,219 alumni now working at one of the big tech giants.

In second place is Cambridge’s rival, the University of Oxford with 3,410 alumni and in third place, is The London School of Economics and Political Science (LSE) with 3,378 alumni.

Ranking  Name of University Number of Alumni
1 University of Cambridge 4219
2 University of Oxford 3410
3 The London School of Economics and Political Science (LSE) 3378
4 The University of Manchester 2548
5 University College London 2454
6 London Business School 2403
7 Imperial College London 2358
8 The University of Edinburgh 2063
9 University of Leeds 1676
10 The University of Nottingham 1673

The UK universities where graduates are least likely to get hired by a tech giant 

According to the analysis, Queen’s University Belfast is the university in the UK where its alumni are least likely to be hired by a tech giant with only two recorded alumni working for one as of January 2022.

Ranking University Number of Alumni
1 Queen’s University Belfast 2
2 Royal Agricultural University 4
3 Regent’s University London 5
4 The University of Law 6
5 University of East Anglia 7
6 St George’s, University of London 14
7 Harper Adams University 17
8 Newman University, Birmingham 20
9 Leeds Trinity University 29
10 University of the Highlands and Islands 32

Which UK regions are most likely to produce alumni for the world’s biggest tech companies?

London came out on top with a massive 27,678 alumni now working for a tech giant. South East England ranked in second place with 12,683 alumni and Scotland in third place with 8,269 alumni.

Northern Irish universities were found to be the worst to attend if students want to work for a tech giant afterwards with only 620 alumni now working for one of the top 26 biggest tech companies.

Region Number of Alumni
London 27678
South East England 12683
Scotland 8269
North West England 7980
East of England 7464
West Midlands 7216
Yorkshire and the Humber 6557
East Midlands 6513
South West England 6035
North East England 4184
Wales 3060
Northern Ireland 620

Amazon hires more alumni from Russell Group universities than any other major tech company

According to the study, Amazon has more employees (17,427) that graduated from a prestigious Russell Group university than any other of the most valuable tech companies in our analysis.

Accenture comes in second place, with 13,660 graduates from Russell Group universities working there.

The full breakdown of which universities each tech giant is most likely to hire is available here. ​

Company Number of Russell Group alumni
Amazon 17,427
Accenture 13,660
IBM 11,702
Google 9,207
Apple 7,340
Oracle 4,803
SAP 3,389
Cisco 3,250
Microsoft 3,076
Huawei 2,514

 

 

 

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Impact of the Ukraine crisis is not reflected in employer hiring 

According to the ManpowerGroup Employment Outlook Survey, strong hiring optimism has continued into the second quarter of 2022. The survey of 41,000 employers showed that employers in 36 of 40 countries reported stronger hiring intentions than this time last year with the greatest demand in IT, finance, and manufacturing. The demand for skilled workers has remained at a record high as employers continue to look to attract and retain the best, diverse talent while embracing the post-pandemic era. 

The ManpowerGroup Employment Outlook Survey is the most comprehensive, forward-looking employment survey of its kind, used globally as a key economic indicator. The Net Employment Outlook is derived by taking the percentage of employers anticipating an increase in hiring activity and subtracting from this the percentage of employers expecting a decrease in hiring activity. 

Jonas Prising, CEO and Chairman of ManpowerGroup commented: “Labour markets around the world are looking strong for Q2, with hiring outlooks back at pre-pandemic levels in most countries. Any impact of the Ukraine crisis is not reflected in employer hiring intentions. While Poland and neighbouring countries are dealing with the humanitarian crisis, we must be poised to help resettlement and employment efforts for refugees, adapting roles and requirements to fill vacancies and create new opportunities.” 

Jonas continued: “At ManpowerGroup we are working fast to leverage our experience integrating refugees into labour markets from other countries – for example from Syria to Germany, Afghanistan to U.S. – and to adapt and scale reskilling and upskilling programmes specifically targeted to this population. Now is the time for collaboration between employers and governments to make it as fast and simple as possible to integrate refugees into the workforce so they can earn a living, contribute to society, and most importantly feel welcomed in their new surroundings.” 

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The Social Media Recruiting Guide

According to talent attraction experts at Adway, they’ve cracked the code to simpler, smarter recruiting that gets you way more candidates and it’s a lot simpler than you think. In a talent-scarce market, isn’t that what recruiters are looking for?

It’s all about automated social recruitment marketing.

As the number of job vacancies in the U.K. continue to reach record highs each month (1.3 million) there’s never been a better time to test out recruitment strategies that truly work. 

Well-executed social media recruiting allows modern recruiters to dive into a talent pool of 4.6 billion+ candidates who are active users on social media. It elevates their employer brand so they can stand out against their competitors, it allows them to tell the story of what it’s like to work at their company! Recruiters can now reach their dream talent on any device.

Automated social recruiting marketing creates a candidate experience that draws from best-in-class e-commerce advertising tactics — with highly-intelligent, targeted ad campaigns that compel candidates to explore the employer’s potential, review job listings and apply on the spot.

Adway’s Ultimate Guide to Social Media Recruiting is a must-read tool for busy TA professionals who want to spend less time hunting for candidates and more time meeting them.

Get the tips and tricks to:

  • Pinpoint where you are in the social media recruiting process
  • Determine the right metrics to track your strategic success
  • Measure your efforts so you can reach your goals faster

If you’re ready to benefit from one of TA’s best-kept secrets — and you need actionable steps to get started — download the Ultimate Guide to Social Media Recruiting today.

https://lp.adway.ai/guide-social-media-recruiting-campaign

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RocketPower’s reported revenue stands at $28 million

Kelly® has announced its acquisition of RocketPower, a provider of Recruitment Process Outsourcing (RPO) and other outsourced talent solutions. RocketPower’s customers include rapidly scaling U.S. tech companies that are known for disrupting industries and changing the world. With headquarters in Silicon Valley, California, RocketPower will continue to operate under its own brand with its current leadership team and staff as part of KellyOCG, the outsourcing and consulting business of Kelly. Terms of the acquisition have not disclosed at the time of going to press.

RocketPower reported revenue of $28 million with year-over-year growth despite the pandemic. Its growth reflects the increased demand for leading RPO providers to help organizations augment and rebuild their talent acquisition capabilities and full-time workforce as they navigate the rapidly changing talent acquisition landscape.

Tammy Browning, president of KellyOCG commented: “The pandemic coupled with fluctuating talent acquisition trends are driving tremendous growth in the RPO market now more than ever. This acquisition significantly expands KellyOCG’s RPO solution and delivery offering across the globe and enhances our specialty RPO strategy and expertise and provides us with another entry point into the high-tech industry. We’re thrilled about the possibilities that will come from this partnership with RocketPower and elevating our position to become one of the top RPO providers in the market.”

Mathew Caldwell, founder and chief executive officer of RocketPower also made comment: “RocketPower is excited to join the Kelly team and take the next step to build upon our solid foundation for growth. Together, RocketPower and Kelly will be a force to reckon with in the RPO market. Kelly’s long-standing commitment to leadership in the RPO industry, its aggressive growth strategy, ongoing tech investments, and its deep expertise – combined with RocketPower’s unique delivery model and strong talent acquisition experience – will empower our collective team to unlock tremendous growth opportunities and continue delivering considerable value to our clients and to our team.”

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Skills shortage remains a concern in the market

According to background screening and identity services firm, Sterling, candidate communication needs to move up the priority list as the war for talent rages on.

With the latest labour market data from the Office for National Statistics (ONS),revealing a continued increase in vacancy numbers across the UK and concerns around talent shortages rife, the expert Sterling called on employers and HR teams to prioritise high quality and regular candidate communication.

In a recent Sterling Live discussion, experts discussed how the war for talent can often be won through simply communicating to candidates consistently, from the first engagement right through their first days on the job.

Tom Stokes, Director at Sterling EMEA, explained: “The skills shortage has been a concern for some time now and while there is certainly a need to broaden talent pools, far too often, potential new recruits are exiting hiring processes, due to the process itself. When we consider how tough it is to recruit at the moment, once an offer has been accepted it’s understandable that some hiring teams or managers may breathe a sigh of relief. However, candidates are increasingly disappearing in that crucial timeframe between the offer and the first day, and this is quite often due to a lack of communication.

“Employers need to remember that for an individual, a career move is a life changing event and after the excitement of getting the job offer, they can face a lengthy notice period where they are juggling their current role alongside the administration that comes with a new job, including employment screening checks.

“Communication is key during this time. Candidates need to know what to expect after the job offer is made, otherwise, they can feel lost or alienated, which leaves them open to being lured away by other businesses. Starting a new job and going through an employment screening process can be daunting for anyone. Celebrate your new hire and maintain the excitement of the job offer. The more they are communicated with and the more engaged they feel, the lower the chances of them being enticed elsewhere.”

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Salary secrecy culture is detrimental to hiring

New research commissioned by Reed.co.uk, one of the UK’s leading jobs and careers sites, has revealed that that 78% of jobseekers are less likely to apply for a job vacancy that does not display a salary.

Amid labour shortages and a cost of living crisis, a culture of salary secrecy is limiting hiring managers’ ability to secure the best talent. The research revealed that 22% of jobseekers will only apply for jobs with a listed salary, with recruiters admitting that they still either don’t include the salary, or only sometimes include it, on nearly half of all job ads.

Money talks, but employers remain silent

With more than 42% of companies currently finding it more difficult than usual to generate applications, the research indicates that there is a clear need for businesses to update their salary transparency protocols.

With jobseekers stating that salary is the number one reason to apply for a job, almost two-thirds (62%) of hiring managers believe a lack of salary transparency on job ads has no negative impact on applications, and less than half (46%) of employers have a salary transparency policy. There seems to be a disconnect between hirers and candidates despite data from Reed.co.uk showing that ads that display salaries receive 27% more applications than those that don’t.

Furthermore, almost half (48%) of all jobseekers say the absence of a salary on a job advert negatively impacts their perception of the hiring company with a quarter (26%) reporting that the word “competitive” in a salary description is likely to put them off applying for the role.

Transparency enables greater diversity

Improving salary transparency could contribute towards solving the nation’s hiring challenges, as well as widening the candidate pool for employers.

A high proportion of hiring managers found that providing salary details delivered more applications (42%), greater relevancy of applications (38%), and saved time in the recruitment process (35%).

More than a quarter (27%) also said showing salary generated more applications from diverse candidates. This is supported by data from the study which found that women (81%), disabled (81%), LGBTQ+ (81%), and black people (87%) were much less likely to apply for a role without a salary being shown, compared to the national average (78%).

Simon Wingate, Managing Director of Reed.co.uk made comment: “You wouldn’t shop in a supermarket that doesn’t list its prices, so why should we expect people to sift through job ads that don’t advertise salary? From our research, it’s clear that jobseekers want to apply for roles at businesses that are open about what they pay.”

“Not only will [revealing pay] generate more applications, you’ll likely improve relevancy and save time in the process. You’ll also be able to attract from a wider talent pool and avoid any negative impact to your employer brand. Businesses need to be more open to salary transparency or risk losing out on the best candidates.”

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According to the US Bureau of Labor Statistics, the unemployment rate moved down to 3.8%, which was far ahead of expectations, as the US economy continues to rebound.  

The BBC reported that job growth across the US was widespread and led by gains in leisure and hospitality, professional and business services, health care and construction with the number of new jobs added well above analysts’ estimates of around 400,000 new roles. 

Companies also added more jobs in January than previously estimated, according to revised numbers released on Friday with average hourly earnings rising by 5.1% over the past 12 months, although that figure is down from a 5.7% annual increase in January. 

According to reports, most of the rise in jobs came from the leisure and hospitality industries, which added 179,000 new roles, and at bar and restaurant companies, which filled 124,000 jobs.  

Employment in professional and business services rose by 95,000 jobs in February. 

However, the total number of jobs on US payrolls is still 2.1 million below where it was before the pandemic. 

Analysts predicted that the stronger-than-expected jobs market increased the certainty that the US central bank will raise interest rates at its next meeting which is something US Federal Reserve chairman Jerome Powell was in favor of as quoted saying earlier this week.  

Neil Birrell, Chief Investment Officer at Premier Miton Investors made comment “It looks like rates up by 0.25 basis points will be coming this month, as noted by Powell yesterday. The outlook is too uncertain for more than that.”  

Seema Shah, Chief Strategist at Principal Global Investors, said an interest rate rise in the US was “all but baked in” to help control soaring inflation rates. 

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