For many jobseekers, deciding on a role is more than simply finding a job. There are many factors that go into this decision and recruitment agencies need to understand what the key trends are for candidates.
Rather than focusing on administrative tasks, recruiters need to be making the most of research that allows greater understanding of the job market. Utilising employment management tools allows for greater engagement with clients, fostering growth for recruiters.
Is Australia lacking jobseekers?
According to the latest analysis by the Department of Employment, Australia contains more than enough job candidates with the relevant skills and qualifications for most vacancies. However, this does not necessarily equate to employers hiring them.
The department's recent Skill Shortages: Statistical Summary indicated that, on average, only 2.2 applicants out of 15.6 were considered by employers to be suitable for the role.
One of the reasons cited for companies failing to fill roles was an inability for employers to agree on the terms and conditions of the role with the preferred candidates. In light of this, what are prospective employees looking for when applying for roles?
What are candidates looking for?
Hudson's latest research, The Hiring Report: The State of Hiring in Australia 2015, explores what candidates are looking for in a position. According to its results, 70 per cent of senior executives prioritise cultural fit when seeking a new role, over other factors such as work/life balance and a higher salary.
"The fact that cultural fit - that feeling of belonging - is so far up the value chain, and is actually the most important factor for senior executives, demonstrates that fitting in and feeling valued are also important priorities for Australian job seekers," said Hudson Executive General Manager Dean Davidson.
According to the Hudson report, the significance of cultural fit is redefining the recruitment sector. Cultural fit has no singular meaning and conjures varying concepts for different people. However, Hudson maintains that, at its core, cultural fit means belonging.
This signifies the importance of not only understanding the needs of a candidate but also defining what cultural fit means to their specific organisation. For recruiters, defining a company's brand can help pinpoint what it is that a business needs in its staff.
For jobseekers, in general, a new trend has emerged that can play a pivotal role in the recruitment process.
Flexible working arrangements sought after by staff
According to the Hudson report, work-life balance has taken the top spot as the most sought-after aspect of a role for jobseekers overall. The survey revealed a majority (70 per cent) of Australian professionals looked for a "work-life balance, including flexible arrangements" when seeking a new role.
"No longer just a buzz term or the domain of the working mum, work-life balance is now fundamental to all Australian professionals and will be firmly on the agenda as we move throughout 2015," added Mr Davidson.
For recruitment agencies, sourcing the right talent is becoming challenging. As such, focusing on these trends is increasingly essential in such a competitive market. With many employers unable to verbalise what exactly they are seeking in a candidate, recruiters need to employ strategies built on research and hiring trends.
In order to do so, recruiters need to be able to focus on their clients, rather than administrative tasks. If you are having difficulty prioritising the growth of your business, contact the team at Oncore Services. With our range of employment management tools and payroll services, we can help facilitate the development of your enterprise.