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Posted By Rowan O'Grady, Hays Canada President, on Monday, Jan 27, 2014
I was recently interviewed by Denise Deveau with the National Post about recruiting in today's competitive and candidate short market and we discussed employers' recruitment tactics and what professionals are looking for in job offers. The key piece of advice I gave to Denise was that you can't build a recruitment strategy around the fact you pay high salaries. Only one company pays the most, and although most candidates won't leave their current job for less money, professionals today are wanting more out of their employers.
We just launched our 2014 Hays Canada Salary Guide, discussing key trends in compensation, benefits and recruitment and retention; providing employers with insights into what competitive salary ranges are, what benefits are being offered and what is impacting employers ability to recruit the right people. The findings from this years survey shows that employers are cognizant of the impact career progression is having on recruitment and retention. Which is spot on. Our What People Want Guide, which surveyed over 5000 Canadian professionals confirms that Canadians rank career progression as one of the top considerations when looking for a new job. And interestingly, 60 per cent of the respondents would consider a 20 per cent cut to their base salary for the potential to earn more through things such as performance-related bonuses.
What worked in terms of recruitment tactics for employers in past years, doesn't necessarily work in today's marketplace. For the first time we conducted a three year analysis of the findings from our Salary Guides, comparing what actually happened in the previous year to what employers predictions were. When looking at anticipated vs actual recruitment challenges, year-on-year, skills shortages and salary levels have ranked as the highest concern. For 2014 however, although consistent with previous years in terms of skills shortages and salary levels still topping the list, what is happening now is that employers are recognizing the importance of the total package. For the first time things such as company reputation, and low company profile are issues that are anticipated to affect recruitment.
My point about this is that as we move into a year where employers have plans to actively recruit, which is exacerbating the already candidate short market, factors other than salary will play a much larger role. I encourage you to ask yourselves these questions: do you have an employer brand outside of a product or service brand? Are you promoting why your company is a great place to work outside of the basics in a job ad? Are you customizing your recruitment approaches to your target demographics? Are you prepared to recruit in a digital landscape? These are questions and topics I plan to explore in this blog over the coming months.
As we explore these topics, I encourage you to use the What People Want Guide in tandem with our 2014 Salary Guide. Together, these aids will help you customize your recruitment strategies to your targeted professions, while developing competitive and attractive packages.