With good, skilled people so difficult to come by at present, an estimated 71,000 unfilled engineering jobs in the UK and active candidates (those actively seeking a new role) currently enjoying an average of 3 job offers each, it is no surprise that jobs in engineering and manufacturing are currently taking an average of three months to reach offer stage. *25% of all UK vacancies went unfilled in 2015 due to a lack of talent (UK Commission Employment & Skills).
Now let’s say your chosen candidate is on a three month notice period; this means that you could be waiting six months from beginning your search for someone, to filling your vacancy. This is before they have been properly inducted, found their feet and are up to speed adding value. It is therefore intensely frustrating, if during your chosen candidates notice period, they accept a counter offer to remain where they are, or accept another position with a third party. The closer this happens to when you expect them to start, the longer your recruitment plans have been delayed. This is why, with a potential six month wait to appoint someone who doesn’t start, it could take you twelve months to have someone in post.
To mitigate this happening there are a number of factors you need to have covered. Our research on successful appointments made within the last six months showed they all had the following success factors in common:
1. Velocity: Whilst we advocate the saying “Hire slow, fire fast”, we also believe that you should take your time in developing your job and person specification, interview questions and induction process BEFORE beginning to engage with candidates. Doing this means that you can act fast and decisively when suitable people arise.
2. Make your offer financially attractive: Counter offer pay increases are currently averaging 12%, the most successful new job offers which were accepted by our candidates were between 15% and 20% more than current earnings.
3. Personalisation: The most important aspects of an offer to the person you want to recruit are what matters to them personally, such as working hours, flexitime, home working etc… One company we work with even allows you to bring your dog to work.
4. Commute zone: Successful job acceptances are being made by people who live within 20 miles of your location.
5. Security and prospects: Emphasise job security, future prospects and interesting work content. These were the key drivers for people moving away from jobs and why some people will even take a new job on less money for a better long-term future.
For more free advice on how to become an employer of choice, improving your chances of winning the best talent for your business, or support on recruiting the best permanent and contract people in Engineering and Manufacturing contact us on 01530833825 or firstname.lastname@example.org.