Partly it’s salary pressure to retain TA & Resourcing specialists as demand fuels huge churn – a recent PeopleScout poll found that a staggering 65% of TA professionals were considering moving employer in the next 12 months.
Add to that a reduction in contract recruiters available (blend of demand and IR35) - and obviously there's a lack of candidates in many markets driving higher attraction costs. For certain roles/locations we’ve seen the Cost-Per-Application double in the past nine months.
And recruitment agency rates are increasing as good candidates are effectively auctioned off to the highest bidder.
No surprise then that there’s a renewed focus on developing greater internal recruitment capability – often using smarter talent management tools such as Eightfold, Hitch or Gloat to automate much of the process, coupled with enhanced employee referral programmes and structured alumni marketing.
At PeopleScout, we’ve recently worked with a leading media business to transform their internal recruitment – remodelling processes and powering a shift towards greater internal mobility through a focus on skills and attitude – not job titles,
Unless you enjoy paying more and more for recruitment, I think it’s the way ahead.
What does the future of recruitment look like? With a record number of vacancies recorded this summer, recruiters are scrambling to identify and hire scarce talent. Activity in the recruitment sector has been nothing short of a rollercoaster over the last 18 months. In the UK, hiring activity fell sharply as Covid-19 lockdowns were implemented, but the downturn was short and sharp. Since summer 2020, the sector has enjoyed a remarkable recovery. Recruiters across nearly all verticals have been experiencing significant increases in demand, and in many cases over and above 2019 levels. This strong recovery has been accelerated by several factors including the unprecedented level of government-backed financial support, the speed at which employers and employees adjusted to work-from-home and hybrid working models, and an acute skills shortage.