Welcome to Weekly Wrap, a brief update on the market and news from a recruitment and search perspective.
We’re all living and working in a rapidly changing environment at the moment, so this update is an overview of how the job market is tracking.
A quick look back
It has certainly been a turbulent time and the impact of COVID-19 on the job market was immediate.
Prior to the lockdown, there was a lot more caution being shown by employers with non-essential roles being carefully considered. Once Level 4 hit, the brakes went on employment across the country with many vacancies deferred.
Of the roles we were recruiting in the week prior to lockdown, around:
- 20% were withdrawn from the market altogether
- 40% were put on hold pending a lifting of the lockdown
- 40% remained active, mainly within Essential Businesses operating across industries including health, food and banking.
The move to Level 3 has lifted spirits. Change is already apparent and a number of “on hold” vacancies are live again.
Signs of life are coming back with companies outside of Essential Businesses wanting to begin recruiting again and this will increase as confidence recovers.
Job adverts are increasing from historic lows and with many employers back to work, the focus is coming back on strengthening up teams.
Employers are still exercising caution – they are optimistic but also realistic that it is still too early to understand the full impact of the pandemic on the economy and the job market. They are looking forward to the move to Level 2, and this is expected to provide greater stimulus to the market.
Feedback from candidates
Candidates are still keen to consider a move, but they want to be sure that new roles are secure. We have had some senior candidates saying they are prepared to move into a role at a slightly lower level because they know the top end of the market will be the last to recover.
Candidates have been watching events unfold and how organisations have conducted themselves. The way businesses have treated their employees throughout this time is having a significant impact on their opinions about these companies as future potential employers.
Right now at Hunter Campbell
During the first week of Level 3, we are getting ready for increased activity as roles come back to market.
Interestingly, as we have seen during previous situations of market turmoil such as the GFC, the demand for temporary, contract and interim staff has increased as a percentage of current needs with some businesses looking to defer decisions on permanent replacements until more certainty returns to the market. We expect this trend to continue and that we will be recruiting more temporary staff in the months to come.
A note of caution
The COVID-19 crisis has resulted in a quick flip from a market where candidates are in short supply to the reverse.
This is both a blessing and a curse. It is great to have more applicants to choose from, but there is a real art to hunting out the best candidate among the masses.
There is a significant cost to hiring the wrong candidate. At a time when businesses need to recover, it is more important than ever to get the recruitment process right.
Links to some of the top jobs we’re recruiting at the moment.
Accounting and Finance:
Supply Chain, Operations and Procurement:
- Operations Manager
- Commercial Manager – Procurement
- Procurement Manager- IT Infrastructure & Licensing
Please contact Ken Webb for further information on these Supply Chain, Operations and Procurement roles.
In case you missed it – news and views
Check out our latest updates:
- Onboarding your contractors virtually
- Getting your video interview right
- Contract Accounting – a good choice in uncertain times
If there’s anything you’d like to discuss in this update, get in touch with our team.