Over the last two years there has been significant change in the employment market which has affected most industry sectors across the economy. With the advent of the pandemic, we saw a slowdown in recruitment activity across most sectors in Cyprus and Malta as business adopted a “wait and see” approach as the full extent of the pandemic was yet to be understood. It quickly became clear that the world was not about to end and around 12 months ago we saw the beginning of a very strong recovery with more jobs becoming available however at the same time there became less candidates available for these jobs.
This has presented employers with several challenges as the market has turned into a ‘candidate driven market’ with candidates having more options and opportunities than ever before. At GRS, the largest recruitment agency in Cyprus, we have seen a phenomenal annual growth in new business and job opportunities in both Cyprus and Mala and we have had to advise and consult with our clients to adapt and change their approaches when recruiting.
With candidates frequently having multiple job offers and with the ‘Genie out of the bottle’ for working from home, employers now must embark on a strategy of candidate attraction. Invariably it’s not just about salary, but the whole package on offer including flexible working and WFH options, wellness and health care packages, employee engagement, and career development plans. Companies can no longer just offer a salary and a medical plan and think this is enough. Since the pandemic the relationship between work and home has fundamentally shifted. Work and home life for some has blended and become what is required by a lot of employees. By giving this flexibility employers can see employees being more productive working from home. Employers must create flexible working and working from home policies to attract, reward and retain their human capital.
As unemployment continues to fall and candidates become scarce it is important that employers streamline their recruitment process to make them fast and efficient. Unnecessary delays in the recruitment process reflect badly on companies and candidates will soon be snapped up by a competitor. Many potential employers lose candidates due to their hiring process taking far too long between each interview.
Attracting talent also involves the use of social media platforms to ensure that employers are projecting a positive, fun and ethical environment where employee engagement and experiences are shared to enhance the company’s reputation in the marketplace. Brand and culture of any organisation are essential to attract the top talent in any recruitment market and this is even more important now as business’ compete for a diminishing supply of candidates. Candidates need to be engaged, by creating a collaborative and open team based working environment this will really make a company stand out from its competitors. Not only will this attract new employees, it will lead to a community-based environment which will also retain them.
To have a successful recruitment strategy and to attract the best talent, companies need to ask themselves ‘Why would someone work for us?’ and you need to invest time in your hiring and attraction process to ensure that you secure the best talent available.
GRS Recruitment can aid and assist your business in attracting and securing top talent and streamline your hiring process. For more information on our Recruitment Service contact one of Consultants on +357 25342720 or email firstname.lastname@example.org