When the Going Gets Tough, the Tough Get Going!
We are getting a fair amount of feedback from recruiters and candidates indicating that they are under pressure to maximize their performance in the lead up to the start of the festive season.
Most of those that we have spoken to are looking forward to a well-earned rest and the irony is that if both groups, namely candidates and recruiters are slowing down as we approach December, then the likelihood that an above (recent) average number of placements will emerge is low.
Adding to this feeling of “why should I go the extra distance” is the reality that most recruitment groups have reported record revenue growth and profits or at least significant improvements in performance when compared to any other time frame post 2019.
Candidates are aware of the extremely low unemployment which has led to a perception that they can get the ideal job when ever they like , so why not wait until the new year. To put it mildly, they have become complacent.
With regard to recruiters, recent numbers indicate they are only filling about one in three roles they are working on, and it is taking more time. They are however maintaining good commercial rates and are able to show revenue growth in their portfolios’ even though the number of actual placements may be less.
Management at this time has shrunk in terms of numbers, as a result of many corporate realignments implemented over the last two years. Time poor, they are reverting to measurement of performance based on analytics set at a different time in the economic cycle.
The activity being demanded is not realistic given market conditions. Couple this with an underlying dissatisfaction felt by many who did not receive bonuses or reviews that were expected last quarter.
With the rising inflation, partly driven by ongoing upward interest rate movements, in many cases although we are apparently enjoying high times, many people across most industries are in a worse net financial position than they were twelve months ago.
Companies are also demanding changes, which in some cases means a regressive return to old work practices. Just when we have become accustomed to the benefits of hybrid roles, shared job roles, independence, balance of life, improved productivity and more.
Some lessons learned during the COVID pandemic are being forgotten or disregarded.
If you are feeling the pressure, then know that comes as no surprise to many working in the employment marketplace where talent management is becoming more difficult than ever. There is less respect for the various players whether they be current employees being taken for granted, potential new entrants or candidates and the managers of the process namely recruiters.
In regard to the latter (recruiters), if you are experienced and looking to run your own business at this opportunistic time, consider joining our growing team and become a Tanner Menzies Licensee. Apart from your skill set, specialization and determination to succeed, nearly everything else you need for success as a business owner is supplied.
Let’s not forget you also enjoy the lion’s share of the revenue generated and equity created.
What can you lose by having a confidential chat, even if it confirms where you are, is best for you, your career and all those affected by it.
For more information, please call Peter Gleeson, Ian Stacy or Peter Tanner (03) 9190 8904 or visit tannermenzies.net.au